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73% of B2B Organizations Value Quality Data

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TLDR:

Dun & Bradstreet (D&B) authored a new report that studied how B2B organizations invest in the quality of their data. Among the key findings of the report, 73% of report respondents indicated that they’re planning to ramp up spending on the quality of their data. The point is to enhance marketing and sales strategies. What’s surprising is that a majority of those same respondents aren’t getting that data as efficiently as they could.

Dun & Bradstreet, a commercial data provider, authored a new report that studied how B2B organizations invest in the quality of their data. They did so because they felt it could be a source of comfort to B2B companies.

In terms of how that report was carried out, D&B surveyed 500 B2B decision-makers from the U.S., U.K., and Canada. 

The findings were called called “7th Annual B2B Sales and Marketing report.”

Broadly speaking, there was a general agreement among all respondents that the quality of data was important to marketing and sales success. To that end, 73% of respondents indicated that they plan to increase spending in obtaining quality data.

And yet, there’s a disconnect in the numbers D&B obtained. 

While the report found that a majority of participants have designs to ramp up data quality spending, a comparable number haven’t connected that data’s value to “sophisticated activation approaches.”

These findings demonstrate that while companies are interested in quality data, they’re making half-hearted attempts to obtain it. D&B stressed the importance of quality data to find security in these turbulent times. 

Their advice? Marketers are doing a good job if they’re doing all they can to get ahold of quality data. D&B advised marketers who are already trying to secure that top-notch data to keep at it, and for those who aren’t to get started.

According to the report itself, D&B also shared suggestions for improvement at its conclusion. These suggestions include: 

  • Prioritize data
  • Use a CDP
  • Maximize value from martech
  • Use intent data

These suggestions will help businesses to get ahead of the competition with quality data. D&B also said if B2B marketers are not investing in data, they will be “left behind.”

Original article from DemandGen Report on 28 April 2020. 

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The ABM Journal was created because we got tired of sifting through all the noise about ABM and wanted to gather only the very best and useful Account-Based Marketing information in one place. In addition to our own research and insight, we aggregate executive level summaries, insights and takeaways—along with some of the top ebooks and other resources available.

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