If you’re involved in B2B Marketing you’ve heard it before:
B2B contacts in your CRM go bad at a rate of between 24-36% per year due to job changes, role changes, and other reasons. And the problem has only gotten worse in recent years.
In addition, if you’re involved in B2B inside sales management you’ve heard your crack sales teams tell you that a third of the contacts they cold call to are:
- no longer with the company listed in your CRM
- no longer in the compiled prospecting list garnered from your demandgen activities
- no longer at the companies in the prospecting list from your list provider or sales enablement platform.
This is a problem that continues to have significant implications on marketing and sales productivity.
Think about it:
If you’re responsible for lead generation on your B2B marketing team, many times you’re executing marketing campaigns where 10-30% of the contacts you’re emailing to have zero chance of receiving your message…..and you DON’T EVEN KNOW IT.
Why? Because so many of the emails you send in commercial marketing campaigns go to accepts-all email servers, in many cases, you never receive even a soft bounce indicating non-delivery.
And it’s costing your enterprise money.
Your enterprise isn’t optimizing your marketing automation investment because your license fees are based on records under management and the number of emails sent. More importantly, you’re not maximizing the number of MQL’s that you’re sending to your inside and field sales teams.
If you’re running an inside business development and/or inside sales team, anywhere from 20-33% of the dials your inside sales team are making are to potential sales contacts that are no longer with the companies that your enterprise or your list provider have them at. Your enterprise is essentially losing even more than 33% sales productivity because we all know what can happen to a sales person’s trust in the system if this happens too often. It’s pretty easy to extrapolate out from there what the impact on your top line & bottom line can be. It can be devastating.
So what’s the solution? While there’s no realistic method, tactic, or technology that can rid your enterprise CRM of bad contact data every time, all the time, there are solutions that can provide significant improvement. Addressing this problem effectively will either reduce marketing & sales costs, or improve productivity, conversions, and sales, or all of the above.
Social123 offers one such solution. We provide and market B2B social data profiles on over 75 million professionals in the U.S. along with B2B email addresses on over one third of them.
Because Social123’s contact data comes from publicly available self-reported social profiles, it is more accurate in terms of where a contact is currently employed than any compiled or crowd-sourced solution out there. Hundreds of our enterprise clients use our data to match against the contact data in their CRM to see if it’s up to date and to identify contacts that are no longer marketable. Social123 even partners with other list providers and list management firms to help keep their offerings cleaner of bad data.
And the results are typically very impactful: An average range of 20-40% of the contact records that Social123 matches on in the typical CRM are no longer with the company that our clients and partners have them at. In most cases, Social123 also can tell these clients and partners where those contacts are working now and provide new emails and phone numbers for them to fuel new sales & marketing acquisition campaigns.
It’s clear that the problem of bad contact data in an enterprise CRM is still a major problem for the typical B2B marketer and sales manager. It should remain a high priority for all B2B enterprises to address this problem head on because the costs of keeping the data clean and up to date are dwarfed by the costs of not doing so.