Maintaining quality data is a common challenge for most B2B marketers. In fact, new research from Lotame, a data management platform, revealed that 60% of marketers are concerned with the quality of data provided by data sellers.
The study, which surveyed 300 marketers across a variety of industries, reveals that nearly half of marketers (42%) purchase demographic data on gender and age. Other popular data types include geographical data (34%), behavioral data (25%) and advanced demographic data on household income, education and children (28%). But of the marketers who purchase data, only 20% said they were “very confident” in its accuracy.
Additional findings include:
- 90% of marketers rate audience data as somewhat or very valuable;
- 25% of marketers are not sure how to measure the success of their audience data purchases;
- 90% would purchase more data if they were confident in its accuracy;
- The top four factors marketers rely on when buying data segments are cost (73%), targeting accuracy (67%), quality of data (66%) and size of data segment (32%); and
- Imprecise targeting was the number one reason (37%) for poor data purchases.
“As audience data’s importance continues to grow, sophisticated marketers are becoming more interested in the quality of data to ensure they are making the right business decisions while reducing wasted ad spend,” said Jason Downie, Chief Strategy Officer of Lotame, in a statement. “They want to be confident that the data they purchase will ensure that they reach their customers and help them make better business decisions. Data sellers need to put in place rigorous quality control measures to ensure data’s quality and accuracy.”