CRM Data

The true cost of bad data

Dirty data can cost you more than sales, it can permanently damage your relationship with your customers. Bad data costs U.S companies three trillion dollars per year, according to IBM. A study by Gartner has found that most organizations surveyed estimate they lose $14.2 million dollars annually. The financial cost of bad data is the most obvious cost, but there are consequences that run much deeper.

Disengaged Audiences

According to Data Axle consumer research, 93% of consumers receive marketing communications that are not relevant to them and 90% of consumers are annoyed by it. In fact, over half of consumers report that irrelevant advertising is the most annoying thing a brand can do. Annoying your potential customers will lead to unsubscribes on your email lists at best and lower your company sales at worst. Don’t alienate your audience. Use clean data to drive personalization and deliver relevant messages to your customer’s inboxes.

Reputation

The internet never forgets. In 2019, a slip-up due to bad data will live online in news articles and on social media for years to come. A brand that makes a sloppy marketing mistake, i.e. sending a product meant for men to women, will be reckoning with a PR nightmare. Don’t be known as the company with the bad data.

The Productivity Cost

Bad data doesn’t just affect your audience, it affects your employees as well. Sales and marketing professionals working with bad data are easily disenfranchised. Employee engagement worldwide is already at a record low, and companies need to work to keep employees engaged. A Gallup poll found that disengaged employees cost their organizations $3,400 for every $10,000 of salary. Keep your employees engaged by giving them the tools they need to be successful, this includes access to up-to-date lead databases.

Missed Opportunities

Detailed prospect profiles are crucial to zeroing in on potential new customers. These customers can be easily missed or not pursued if your sales and marketing team aren’t proactively pursuing them. You need accurate customer insights in order to compile what your ideal prospect looks like in order to drive sales. Don’t become a statistic; staunch the flow of bad data.

Ditch the dirty data with Data Axle. Data Axle enables your business to connect to various hubs of content and information assets in real-time utilizing fast, scalable open-source technology. The platform is able to handle massive amounts of data, making interactions in the now possible for everything from multi-channel marketing campaigns to customer acquisition plans. Every piece of data can be tracked and used at just the right moment to optimize customer interaction and drive revenue for your business. Learn more here.

Natasia Langfelder
Content Marketing Manager

As Content Marketing Manager, Natasia is responsible for helping strategize, produce and execute Data Axle's content. With a passion for writing and an enthusiasm for data management and technology, Natasia creates content that is designed to deliver nuggets of wisdom to help brands and individuals elevate their data governance policies. A native New Yorker, when Natasia is not at work she can be found enjoying New York’s food scene, at one of NYC’s many museums, or at one of the city’s many parks with her two teacup yorkies.