How much does poor data cost your brand? According to a study by Royal Mail Data Services and DataIQ, businesses are losing an average of 5.9% in annual revenue as a result of bad customer data.
The report, How better customer data drives marketing performance and business growth, found that a third of marketers were ill-equipped to make the connection between their data and revenue.
30.6% reported an annual revenue cost of up to 5%. 23.3% stated poor data cost their business between 6-10% of revenue, while 6.8% said this figure was likely to be 11% or higher. This equates to an average of 5.9% annual revenue across all businesses.
In the following infographic, we highlight every key statistic unearthed in the report, revealing why poor data is the elephant in the room for most marketing professionals.
(Click to enlarge)
About Chris Ward
Chris is Editor of MyCustomer. He is a practiced editor, having worked as a copywriter for creative agency, Stranger Collective from 2009 to 2011 and subsequently as a journalist covering technology, marketing and customer service from 2011-2014 as editor of Business Cloud News. He joined MyCustomer in 2014.