Data quality plays a vital role in the success of your marketing and sales. One study from IBM found that poor data quality costs U.S. businesses over $3.1 trillion per year. Before it’s too late, it is important to learn how to overcome data quality issues to protect the integrity of your brand.
What Exactly Is Poor Data Quality?
Poor data means inaccurate information. It includes:
- Outdated information
- Duplicate entries
- Missing contact fields
- Wrong entries
- Misspellings and typos
Poor Data Quality Diminishes Marketing Efforts
If your conversion rates are low, poor data could be the cause. Check for these signs.
1 – Content not aligned with the buyer’s journey
If your data about a buyer isn’t accurate, how can you expect to align content to the buyer’s journey?
- A CMO who downloaded your guide on “Latest trends in MarTech” won’t like it if you send an email to download the same document.
- A director won’t appreciate emails addressed to him as a marketing manager.
- Sarah won’t appreciate emails addressed to Sara.
These errors affect relationships with your customers, leading to poor brand value.
2 – Email churn rate
Check your email churn rate. If subscribers are leaving your list, maybe it’s time to get a data audit. Or else the list churn will amplify, further reducing the impact of your email campaigns.
Be aware of two types of list churn
- Transparent churn: unsubscribes, hard bounces and reporting spam.
- Opaque churn: emails landing in spam folders or remaining unopened, or going to inactive addresses.
Email churn is a clear indicator of poor quality data. In the long term, it leads to losing contact with new and existing customers. Poor data-driven experience may drive them to your competitors for a better customer experience.
How to Fix Bad Data?
A data audit typically involves three steps:
- Analyze data
Audit your existing database. Partner with a market intelligence provider to analyze your database and identify any data issues.
- Assess and improve data collection methods
Examine your sources and data collection methods. Are there too many unnecessary fields that need to be filled? Eliminate them and streamline your webforms. Minimize manual data changes, and equip yourself with automation tools to reduce human error.
- Fix it
Work with your data provider on fixing inconsistencies in your marketing database.
Ready for the Data-Driven Future?
Join hundreds of your B2B marketing, sales and data peers at “Truth Matters: How Data Accelerates Revenue” on July 14. Spend time in sessions with Shark and marketing entrepreneur Daymond John, Forrester Principal Analyst Kerry Cunningham, and other data-driven thought leaders. See the agenda and register your team today.