B2B marketers are utilizing data and analytics, but new research indicates that many are still struggling to maintain the accuracy and quality of information.
The “B2B Lead Generation Survey” conducted by Chief Marketer discovered that the primary data challenge for B2B marketers is quality and standardization (72 percent). Incomplete data (60 percent) and information residing in separate silos (53 percent) were also top challenges for marketers utilizing analytics.
A quarter of marketers (25 percent) only perform data hygiene practices quarterly. Nearly a quarter (24 percent) standardize their data annually, and 40 percent do not perform data overlays to check for duplicate information.
“Data is the backbone of any strong lead generation strategy, and several experts agreed this was a major stumbling block for numerous B2B organizations,” concluded report author Beth Negus Viveiros, managing editor at Chief Marketer.
Marketing Challenges Presented by Data and Analytics
Marketers are being flooded with more data and analytics, but previous research shows that they are evolving to handle the abundance of information.
A report published by IBM last year found that 47 percent of innovative CMOs with successful financial track records were confident in their ability to handle the “data explosion.”
In 2013, just 18 percent of CMOs said that they were prepared to tackle the key marketing challenges associated with the eruption of data. By 2015, approximately 36 percent said they were ready to take on the challenges of a “data explosion.”
“They believe they’re better prepared to deal with changing patterns of consumer behavior, the rise of social media and an increasingly complex set of marketing responsibilities,” wrote the authors of the report.