As marketers remain focused on delivering a positive customer experience, new research is highlighting the importance of maintaining data accuracy for beneficial insight.
Experian recently published the results of a survey aimed at looking at global trends in data management, and statistics indicated that most organizations (52%) are continuing to make the customer experience their top priority. That being said, they need accurate data to connect and resonate with customers and prospects.
“Quality consumer data is the differentiator in knowing who customers are and how to reach them,” wrote the researchers behind the report.
About 42% of respondents claimed that poor quality data results in wasted resources and additional costs, and 39% said it negatively affects the customer experience. To account for potential pitfalls, 97% of organizations have plans to make their data management program more flexible and agile within the next 12 months.
B2B Marketers Struggle to Overcome Poor Quality Data
As it turns out, poor quality data is not only impacting marketers who are looking to provide a positive customer experience. Previous research suggests that data inaccuracies are challenging B2B marketers looking to implement account-based marketing (ABM) practices as well.
Openprise conducted its “RevOps Reality Check” report, and 24% of B2B marketers interested in ABM claimed that their lack of confidence in their organization’s data keeps them up at night. This comes in addition to other ABM implementation challenges, such as a lack of internal expertise (40%) and budget restraints (18%).
“Bad data is the kryptonite of ABM campaigns — with inaccurate information, organizations are at risk of targeting out-of-market accounts and prioritizing the wrong leads,” wrote the researchers behind the report. “Missing a high-value prospect results in missed revenue, while targeting an account that’s unlikely to make a purchase is a complete waste of resources.