Customers who have implemented an on-going data management best practices program have increased lead production by 260% on average.
Eloqua Marketing Automation Benchmark Report
The compounding cost of poor data quality is described with the $1-$10-$100 Rule: it costs $1 to verify record on entry, $10 to de-dupe and cleanse data after input, and $100 per record if nothing is done.
Percentage of 54% of CMOs who say their number one database quality challenge is integrating and centralizing data
While increasing marketing attributed revenue and mastering 1:1, customer lifecycle marketing is the ultimate goal for any marketer, it’s impossible to achieve without a unified view across prospects, customers, campaigns and transactions in the buyer lifecycle. And what’s more, that data needs to be of a high level of data quality and completeness — maintained on a continuous basis — to combat the ever-present problem of data degradation, and to align with application of database management best practices.
The bottom line? It’s time for a data quality campaign. The fact is, the limits of your data — whether the lack of quality, completeness or integrated view — likely represents the single biggest throttle on the effectiveness of your marketing programs.
“…Marketing automation was a good first step, but it primarily serves to automate the transactions for marketing. What ReachForce is pursuing will allow marketers to take the next step toward more intelligent targeting or more valuable customer engagement.”
— Lori Wizdo, Principal Analyst, Forrester Research