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My team threw down a challenge for me this week. They asked me to use as many song references as possible from our featured artist in this week’s email without being too cheesy or overwhelming. Challenge Accepted! Let me know if I’ve succeeded or am simply running to stand still…
Here is what the experts are saying, and some takeaways from the past week:
A Beautiful Day with HubSpot Data
Looking at the HubSpot data for February, I see some ongoing positive trends:
- Closed Deals increased and Deals Created remained more than 20% above the benchmark!
- Sales Calls made a huge jump (53% vs. 36% over benchmark in January)
- Sales Conversations continued strong at 11% over benchmark
It’s great to see the elevation in the February numbers – indicating some strong optimism in the market. Hopefully we’ll continue to see closed deals increase as sales reps around the world help convert those leads that still haven’t found what they’re looking for.
Bad Data – Where the Streets Have No Name
My post last week about quality data triggered some spirited discussion. I outlined some strategies to improve data quality – but what is the actual cost of bad data?
One way to look at it is in terms of retrofitting costs – the longer incorrect records remain in the database, the more expensive it becomes to deal with them. In data management circles, this point is illustrated by the anecdotal “1-10-100” rule of thumb: It takes One dollar to verify a record as it is entered, $10 to cleanse and de-dupe it, and $100 to deal with the repeated ramifications if nothing is done and your bad data gets out of control.
Research firms like Forrester have reported in the past that strong data organizations can realize up to a 66% rise in revenue compared to those in the ‘average’ category! Before you go numb over-analyzing your data, think about the stages of the demand waterfall, and determine how a small improvement in data quality can increase conversion rates at each stage… resulting in the sweetest thing – additional revenue!
NFTs – Even Better Than The Real Thing?
The Kings of Leon have brought the concept of NFTs (Non-Fungible Tokens) to the forefront of entertainment media this past week – so much so, that you’re probably already sick of seeing all the press about NFTs.
I’m certainly no expert, but I’ve compiled some resources below for you to make up your own mind and get educated!
- Alan Cross – What are NFTs and why is the music industry going crazy for them?
- Seth Godin – NFTs are a dangerous trap
- Everest Pipkin – Environmental issues with Crypto art
It seems like the NFT market will continue evolving with or without you. Whether you’re stuck in a moment you can’t get out of, or have a concrete desire to invest in Crypto art, the ramifications on the entertainment industry and B2B will be vital to track over the coming months.
ABM – I Will Follow
Join us and Forrester for another webinar – “Are You Ready for B2B Account-Based Marketing?” Follow our techniques and create ABM Success in 2021 – sign up and we’ll send you the Forrester research report too!
As always, if I can help you out, let me know! Don’t hesitate to call me to brainstorm or just say hello.
Rick Endrulat, President | email@example.com | www.linkedin.com/in/rickendrulat