A recent scan of industry research produced some staggering facts and figures:
If it costs £1 to process a simple operation or transaction when all the data is perfect, this will rise to £10 if it is not.
Despite the fact that failure to comply with Data Protection legislation can result in fines up to £5,000, 45 per cent of companies are not suppressing their customer data to remove individuals who cannot or will not respond to offers.
B2B contact data (names, roles, addresses, phone numbers and email) decays at 37.7% a year
On average up to 20% of Managing Directors, 33% of Sales Directors and 50% of Marketing Directors change every year.
5.7m business details change every year:
- a company name change occurs every minute
- a business closes every 2 minutes
- a business fails every 4 minutes
- a business moves office every 6 minutes
- 37% of your business customer records will be out of date within a year – losing you sales and wasting your money.
£18 million per year is wasted mailing the deceased.
Up to 67% of UK B2B mailings contain errors.
88% of all data integration projects fail or run over budget because of poor quality data.
3.6% of UK marketing emails bounce