Leadspace Blog

Why US Employment Trends Should Have You Worried about Your Marketing Database

Why you need real-time data enrichment for B2B marketing
Ari Soffer

Senior Content Manager, Leadspace

A recent Fast Company article on the State of the American Workplace highlighted some important figures for anyone planning on launching a marketing campaign:

47% of the workforce says now is a good time to find a quality job, and more than half of employees (51%) are searching for new jobs or watching for openings. …[T]hey also say that their employers aren’t really giving them compelling reasons to stay, with 91% reporting the last time they changed jobs, they left their company to do so.

And lest you think this is yet another article about how allegedly fickle millennials are:

Just don’t look at millennials solely as the job-hoppers. A new report from Namely, an HR management platform, analyzed data from over 125,000 employees that busted this myth. Baby boomers are most likely to switch jobs, with a median tenure of just 2.53 years.

Assuming the contacts in your marketing database don’t radically depart from the US national average for some reason, that means roughly half of your leads are currently looking to move jobs. Within a 3-year period, a significant number will indeed do so — mostly by leaving their current company. Even those who don’t leave their current company will almost certainly change roles during that time.

This startling reality should be a wake up call for B2B marketers, particularly in marketing ops. The success of your campaigns relies on your data being accurate. Even something as straightforward as an email marketing campaign will see a steady decrease in response rates if your database is deteriorating.

So how to solve this problem? From the outset, it’s crucial for B2B marketers to accept that they can’t do it themselves. There is simply no way you can manually refresh every lead and account in your Marketing Automation Platform — never mind aligning those updates with sales’ own database.

If you haven’t done so yet, now is as good a time to straighten out your database — and implement a plan to ensure it stays fresh for good.

RingCentral, for example, increased their lead-to-opportunity conversion rate more than threefold by using real-time data enrichment.

At the same time, they were able to significantly reduce the amount of time it took to qualify each lead — saving each rep 65 hours per quarter.

Read more in the case study below:

RingCentral tripled conversion rates with Leadspace

Picture from Pixabay | CC0 Public Domain