The Mystery Record Epidemic:
IT Companies Losing Millions in Database Dead Zones
Technology marketers are losing substantial time, and money on, “mystery records.” In research conducted through early 2016 by Technical Communities, 64% of more than 1,000 B2B marketers agreed that, “records of unknown status or zero lead score,” comprise “more than 10%” of their database. It’s a concerning statistic.
“We generally buy all our records somehow… Maybe they downloaded a whitepaper, or watched a webcast, or went to an event… Which means we spent dollars to get them into our database. So when they just sit there, we’re losing money.”
– Demand Generation Manager, Network Security Company
Tech marketers surveyed spend an average of $53 on every record they import to their databases, with an average total live record count of ~183,000. That means the average IT company’s marketing database contains a pool of more than 18,000 mystery records, at a staggering cost of almost $1M. Making matters worse, more than 92% of respondents say their companies have no process in place to revive or re-qualify their mystery records.
“You connected with them at some point… At some point that IT gal was interested in what our company is doing; but then there was a disconnect. We know she doesn’t engage with our stuff anymore. And we don’t really do much to remedy that, besides send more emails.”
– Marketing Automation Manager, Financial Management Software
In most cases, IT companies rely on a combination of email nurturing processes and sales development teams to progress a record from contact to MQL, to SQL, and then on to opportunity and sold business. But if the contact doesn’t open, click, or answer, they can get lost in the system quickly. Data from five major TCI Marketing Services clients shows that if a contact has not engaged by the fifth outreach attempt, they have a >80% likelihood of becoming a mystery lead.
As we look at ways to help our clients run more effective marketing operations, a solution to mystery leads is atop the list. Our ReQualify service provides the call staff and email automation resources required to solve the mystery – refining and updating data, reengaging prospects, and evaluating validity.