The Era of Paying for B2B Data is Over – Introducing Unlimited Data Access
Bad data is a commodity, but good data is priceless.
To me, the statement above is more than just a soundbite. It’s the foundation that Radius was built on. When we started Radius in 2012, our team had one goal in mind – make it simple for marketers to access high-quality data, leverage intelligence, and ultimately drive revenue.
It’s a vision that I’ve shared many times over and a joint goal that I believe all software providers dabbling in AI, predictive, and machine learning should provide in their products today. That’s why today we’re excited to announce that B2B companies can now get unlimited access to the most comprehensive, accurate, and up-to-date contact and account data via The Network of Record™.
Mapping the revenue footprint of bad data
Companies have become data organizations – there’s no way around it. This can largely be attributed to the rapid digitization, expansion of new-age tech like AI and predictive, and massive amounts of customer data collected by CRM, marketing automation, and other systems of record. But the abundance of data is eclipsed by the shortcomings in quality which impacts business decisions and performance:
- $8.8M average cost per year due to bad data (Source: Gartner, Nov 2015)
- 79% of CROs don’t know where their revenue will come from (Source: Xactly, May 2014)
- 66% of CMOs aren’t hitting targets (Source: 614Group, July 2014)
CMOs use data to drive strategy, but most intelligence gleaned from current systems is predicated on inaccurate and stale data. In this case, the proverbial statement ‘garbage in, garbage out’ is negatively impacting companies’ B2B strategies which may be harmful to their success at scale. But, in my conversations with forward-thinking organizations, I’ve found that acquiring and maintaining quality customer and prospect data is the most pervasive challenge facing companies today.
Most organizations are missing revenue targets, running across higher acquisition costs, and seeing lower return on marketing & sales investment because poor foundational data continues to be an ongoing problem.
The business value of good data ranges from high to stratospheric. While every data source has different characteristics and presents a different set of challenges around quality and accuracy, most B2B marketers still have immature data management practices that fail to get value from these varied data types.
TechRadar™: B2B Marketing Technologies, August 2016, Forrester
How we solve the data problem at Radius
To address foundational data problems, we spent years building a proprietary, always-on data source called The Network of Record. The Network of Record provides a holistic view of B2B data across the U.S. landscape – built from hundreds of partner, public, and contributed sources – fueled by a network-effect-driven model made up of hundreds of companies contributing over 1 billion anonymized and aggregated business interactions.
The Network of Record delivers:
- A growing network effect, with connected records up 37% in the last 6 months alone
- Account and contact data on 18M+ U.S. businesses with over 100 attributes available for the average business
- Data on more than 37 million contacts of which 20 million are decision makers, a 41% increase over the last 6 months
- Unmatched data quality and coverage with 90% accuracy on core business attributes (Source – Datapure LLC and Hybrid LLC), and over 90% of businesses contactable through multiple channels
The result: a rapidly expanding source of B2B data that is always improving in accuracy, breadth, and richness.
With The Network of Record, B2B go-to-market teams have a trusted, always-on B2B data source.
But as I mentioned earlier, Radius’ mission isn’t to just deliver high-quality, comprehensive data, but also is to empower B2B go-to-market teams with intelligence to drive growth. With deep integrations across our customers’ systems, we drive intelligence that is always improving and ensuring our customers are consistently engaging with opportunities they can win. That’s why our latest offering of unlimited data access to the Network of Record for all subscribers of the Radius Revenue Platform is a much needed and major paradigm shift for all B2B companies.
Now, Radius customers can leverage ongoing, quality data and intelligence across their CRM, marketing technologies, and channels to amplify revenue efforts, including:
- Fixing foundational data problems in CRM and MarTech
- Engaging with prospects more effectively across channels by leveraging deeper insights on an expanded market view
- Accelerating growth by amplifying campaigns with high-quality data
- Unlocking the power of AI and predictive with confidence in the results
Role of unlimited data in B2B revenue success
There are 3 main ways in which companies can benefit from unlimited data access:
1. Feed quality and fresh data into CRM and B2B applications.
First and foremost, your go-to-market teams no longer need to worry about data tactics to fuel your tech stack. Get more value from your CRM and marketing technology investments by having high-quality data readily available and seamlessly integrated. Ensure your systems are constantly updated and fresh.
2. Focus on opportunities you can win.
With constantly updated and improving data, you can now have confidence that intelligent solutions such as AI-driven applications will yield the right results. Focus your marketing and sales efforts on opportunities most likely to drive revenue and convert. Know your budget is spent wisely across all your systems from CRM to media.
3. Reach your prospects and customers wherever they may be.
Instead of buying more data all the time about your prospects and customers, know that you can trust The Network of Record to point you in the right direction. Reach your customers across all channels and be notified of changes in their business at any time to adjust your strategy to reach your prospects when they are ready to buy. All of this intelligence is driven by network effects that ensure you have the best information about your prospects to drive great campaigns.
Unlock your data’s hidden potential with The Network of Record
The days of piece-meal data solutions are numbered.
With unlimited access to The Network of Record, companies can arm their go-to-market teams, technologies, channels, and workflows with the latest, actionable intelligence to drive real results.
I’ve always seen Radius at the crossroads of data and intelligence. Today, we have redefined the business model and are leading the evolution of CRM with The Network of Record.
You can learn more by joining Forrester VP, Principal Analyst Laura Ramos and Sr. Director of Demand Generation, John Hurley on “How Data Network-Effects Create an Unfair Advantage In the Age of the Customer” March 30, 2017 10am PST