Greg Sterling & I were asked by Yext to figure out how the cost of erroneous business listings data. The answer: $10 Billion, maybe more. Greg has the full story.
Yext internal data indicate that 14% of business listings are missing from online databases and sites and as much as 43% of listings contain errors of some kind (bad address, name, phone number).
Based on our survey, this bad data causes lots of people to not use the business they were originally searching for.
The Financial Times published a piece about the data today (registration required). Yext will be publishing additional data from our research shortly.
Now go fix your listings and prosper.
One Response Comment
Wow! Clearly most small businesses still don’t have a handle on their listings, and I can’t really blame them. If you haven’t set your listings up with a level of insight that 99.9% of business owners don’t have, a simple phone number or address change can result in chaos. I know the value, but it can be tough to justify the expense or tedious amount of work in many cases.