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.