B2B DATA MARKET INDUSTRY REPORT
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1 B2B DATA MARKET INDUSTRY REPORT 2017
2 TABLE OF CONTENTS Executive Summary Happy Customers (Yes, Really) The More (Data Providers) the Merrier Large Enterprises Are Tougher to Please The Most Popular Data Providers Why Marketers Buy B2B Data The Weakest Link A Different Issue for Enterprises When in Doubt Database Update Methods Who s Calling the Shots? Survey Methodology About Openprise
3 EXECUTIVE SUMMARY Curious about the trends in the B2B data marketplace, we surveyed 175 U.S.-based B2B marketing professionals in 2017, representing a diverse group of industries, from companies with over 200 employees. Here are some key findings: THE MORE (DATA PROVIDERS) THE MERRIER. The marketers who have tried four or more providers tend to be happier: 80% of them report being very satisfied with their current relationship with data providers. For everyone else, that number drops to around 50%. In a nutshell, the more data providers you try, the more likely you are to find the right ones for you. ABM ISN T GETTING THE HELP IT NEEDS FROM THIRD-PARTY DATA. Perhaps fueled by the rise of Account-Based Marketing, the primary use of third-party data is to identify contacts within target companies (62%), followed by identifying new target companies (52%). Subsequently, 41% of the marketers surveyed name missing contacts at target companies as data providers biggest weakness. LARGE COMPANIES ARE HARDER TO PLEASE. While 67% of marketers at small companies are very satisfied with their data providers, only 31% of their enterprise counterparts agree. This makes sense as data issues compound when the size of a database grows, making data upkeep exponentially more difficult. EXISTING CRM DATA TRUMPS THIRD-PARTY DATA. This might come as a surprise to many: only one in three marketers tap data providers for data cleansing purposes. This could be that overall, compared to third-party data, marketers have more faith in data entered by their sales team and captured via web forms. 3
4 HAPPY CUSTOMERS (YES, REALLY) While marketers are often frustrated with the state of their house data, their sentiments towards data providers are much more positive. 56% of the marketers surveyed say they re very satisfied, and another 38% are somewhat satisfied. HOW SATISFIED ARE YOU WITH YOUR CURRENT DATA PROVIDER(S)? 3% SOMEWHAT DISSATISFIED 2% N/A Commenting on these findings, Allen Pogorzelski, VP of Marketing at Openprise, said, It makes sense that most companies are satisfied with the quality of the data they re seeing from reputable data SOMEWHAT SATISFIED 38% 56% providers. The data issues most companies are struggling with are in normalizing and integrating that data from different VERY SATISFIED vendors into their house databases to make it useful. 4
5 THE MORE (DATA PROVIDERS) THE MERRIER The marketers who have tried four or more data providers tend to be happier: 80% of them report being very satisfied with their current relationship with data providers. For those who haven t worked with as many providers, only 50% say they are very satisfied overall. Since each provider has its own unique strong suits, it stands to reason that you re more likely to reach data nirvana and get everything you need when armed with multiple providers. By the way, 37% of the marketers surveyed plan to use a combination of four or more data providers in 2017, while 12% intend to use only one. THE MORE DATA PROVIDERS, THE MERRIER HOW MANY DATA PROVIDERS DO YOU PLAN TO USE IN 2017? 52% HOW MANY DATA PROVIDERS HAVE YOU TRIED IN THE PAST 3 YEARS? % 2% 5% 0% 20% 48% 49% 49% 45% 50% 80% 80% NUMBER OF DATA PROVIDERS NONE 1 PROVIDER 2 PROVDERS 3 PROVIDERS 4 PROVIDERS 5 OR MORE 2% 12% 17% 14% 23% % OF RESPONDANTS 32% 5 OR MORE 16% 5% 0% 20% 40% 60% 80% 100% Marketers expect to use an average HOW SATISFIED ARE YOU WITH YOUR CURRENT DATA PROVIDER(S)? VERY SATISFIED SOMEWHAT SATISFIED SOMEWHAT DISATISFIED of 3 data providers in
6 LARGE ENTERPRISES ARE TOUGHER TO PLEASE Large companies are tougher customers. While 67% of LARGE ENTERPRISES ARE TOUGHER CUSTOMERS marketers at small companies are very satisfied with their data providers, only 31% of their % 33% 67% counterparts at enterprises 0% (more than 5,000 employees) concur. This is probably due to the fact that larger companies tend to have larger databases, and as the number of records grows, the issues compound exponentially. In addition, large companies often have tougher requirements than smaller ones. NUMBER OF EMPLOYEES % 0% 2% 2% 32% 50% 46% 63% 31% OVER % 50% 12% 0% 20% 40% 60% 80% 100% SATISFACTION RATE VERY SATISFIED SOMEWHAT SATISFIED SOMEWHAT DISATISFIED N/A 6
7 THE MOST POPULAR DATA PROVIDERS So who are the popular choices in this crowded market? Overall, ZoomInfo leads the pack as 40% of marketers surveyed reported having experience with the company, followed by 36% for InfoUSA, and 35% for data.com. In the enterprise market (Company Size > 5,000 employees), ZoomInfo s lead becomes more significant, jumping from 40% to 61%, with InfoUSA in second place at 44%. WHICH DATA PROVIDER(S) HAVE YOU USED? ZOOMINFO INFOUSA DATA.COM SALESGENIE D&B/HOOVER S LEADGENIUS THOMSON DATA DISCOVER.ORG MATTERMARK AVENTION CLEARBIT LEAD411 DATA PROVIDERS ENTERPRISE COMPANIES USE Company Size > 5,000 Employees 41% ZOOMINFO 61% 36% INFOUSA 44% 35% SALESGENIE 33% 31% DATA.COM 28% 30% D&B/HOOVER S 28% 28% LEAD411 17% 27% LEADGENIUS 17% 25% LEADRAMP 17% 23% AVENTION 23% CLEARBIT 23% DISCOVER.ORG 21% INSIDEVIEW RAINKING 20% RAINKING SYNTHIO / SOCIAL % THOMSON DATA LEADRAMP 19% NONE OF THEM INSIDEVIEW ORB INTELLIGENCE NONE OF THEM 17% 16% MATTERMARK ORB INTELLIGENCE 6% 6% 5% SYNTHIO / SOCIAL 123 6% 0% 10% 20% 30% 40% 0% 20% 40% 60% 80% 7
8 WHY MARKETERS BUY B2B DATA Perhaps fueled by the recent rise of Account-Based Marketing, survey respondents report that the primary use of third-party data is to identify new contacts within target companies (62%). Meanwhile, only one in three marketers tap data providers for data cleansing purposes. WHAT DO YOU USE DATA PROVIDERS FOR? Check All That Apply IDENTIFYING NEW CONTACTS WITHIN TARGET COMPANIES IDENTIFYING NEW TARGET COMPANIES APPENDING MISSING FIELD VALUES (e.g., phone, , company size) 50% 52% 62% CLEANSING DATA 37% OTHER (please specify) 1% 0% 10% 20% 30% 40% 50% 60% 70% Only 1 in 3 marketers tap data providers for cleansing. 8
9 THE WEAKEST LINK: CONTACTS AT TARGET COMPANIES Perhaps because identifying contacts at target companies is their primary goal with third-party data, marketers seem to take extra notice when it fails to deliver. 41% of them perceive missing contacts at target companies to be data providers biggest shortcoming. As it stands, less than half of marketers leverage third-party data for their Account-Based Marketing efforts. This is perhaps a reflection of the fact that marketers still need time to acquire the techniques and technologies necessary to succeed in ABM. WHAT S THE BIGGEST SHORTCOMING OF DATA PROVIDERS? WHICH SYSTEMS LEVERAGE THIRD-PARTY DATA? INCORRECT FIELD VALUES MARKETING AUTOMATION 65% MISSING FIELD VALUES IN LEADS & CONTACTS 20% 39% 41% MISSING CONTACTS AT TARGET COMPANIES SALESFORCE AUTOMATION ACCOUNT-BASED MARKETING PREDICTIVE ANALYTICS NOT SURE OTHER (please specify) 1% 3% 37% 48% 52% 0% 10% 20% 30% 40% 50% 60% 70% 9
10 A DIFFERENT ISSUE FOR ENTERPRISES Incorrect field values in 3rd party data is a bigger issue for enterprises (Company Size >5,000 employees), as 25% of their marketers see it as the top concern, compared to only 14% of their counterparts at small companies. This is probably due to the fact that larger companies likely have larger databases, more data sources, and more team members touching the data, all of which are contributing factors to incorrect field values. WHAT S THE BIGGEST SHORTCOMING OF DATA PROVIDERS? NUMBER OF EMPLOYEES AT YOUR COMPANY 43% % 14% 37% % 21% 40% % 22% 30% OVER % 25% 0% 20% 40% 60% MISSING FIELD VALUES IN LEADS AND CONTACTS MISSING CONTACTS AT TARGET COMPANIES INCORRECT FIELD VALUES 10
11 WHEN IN DOUBT... Only one in five marketers surveyed would overwrite their existing records should they conflict with third-party data. This could be that overall, compared to third-party data, marketers have more faith in data entered by their sales team and captured via web forms. Interestingly, over a quarter of respondents say they would keep both and reconcile later. Without reconciling the data, this limits its usefulness and compounds the dirty data problem. WHICH DATA SOURCE WINS IN A CONFLICT? THE EXISTING FIELD VALUE IN YOUR CRM SOLUTION THE FIELD VALUE FROM YOUR DATA PROVIDER KEEP BOTH FIELDS AND NEVER RECONCILE KEEP BOTH AND RECONCILE LATER 22% 27% 38% NOT SURE 4% 0% 10% 20% 30% 40% 11
12 DATABASE UPDATE METHODS So, how do marketers update their house databases? 47% still rely solely on manual updates; 50% have advanced to continuous, automatic updates exclusively; while everyone else uses a combination of these methods. HOW MARKETERS UPDATE DATABASES Check All That Apply MANUAL UPDATES ONE RECORD AT A TIME MANUAL BATCH UPDATES 40% 47% With 40% of respondents indicating that they manually update one record at a time, it s likely that these companies are missing out on opportunities to improve their data. CONTINUOUS, AUTOMATIC UPDATES NOT SURE 5% 50% 0% 10% 20% 30% 40% 50% 60% 12
13 WHO S CALLING THE SHOTS? More than half of the time, Marketing owns the relationship with data providers. But even when Marketing does own the relationship, in only 57% of the companies surveyed does it also own the budget, as Sales, IT, Finance, and Operations often all have a say on the spend. WHO OWNS THE RELATIONSHIP WITH DATA PROVIDERS? EVEN WHEN MARKETING OWNS THE RELATIONSHIP...WHO OWNS THE BUDGET? IT IT 1% NOT SURE FINANCE 16% FINANCE 6% 9% OPERATIONS 9% 58% MARKETING OPERATIONS 9% 12% 57% MARKETING SALES SALES 13
14 METHODOLOGY The survey was completed by 175 B2B marketers in the U.S., from companies with over 200 employees. COMPANY SIZE INDUSTRY OVER 5000 MARKETING & ADVERTISING 16% BANKING 7% 14% 24% COMPUTER SOFTWARE INFORMATION TECHNOLOGY & SERVICES 7% 6% % MANUFACTURING AGRICULTURE 3% 5% 38% BUILDING MATERIALS COMPUTER NETWORKING 3% 3% CONSTRUCTION HEALTHCARE 3% 3% ALL OTHERS 42% 0% 10% 20% 30% 40% 14
15 ABOUT OPENPRISE Openprise is a Data Orchestration Platform. We solve the garbage-in/garbage-out problem to make data-driven anything possible in Marketing, Sales, and Support. Openprise automates critical data management processes including data onboarding, cleansing, enrichment, and unification. Openprise is designed from the ground up for CRM, so it has the business rules, best practices, and data info@openprisetech.com built right in, and it seamlessly integrates with CRM solutions like Marketo, Eloqua, Pardot, Desk, and Salesforce, so you re up and running fast. For more information, please visit SEE A DEMO 15 The State of B2B Marketing Data Management
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