If you ask senior leaders of your company if they consider data to be an asset, chances are that they’re going to say yes. If you ask them how confident they are in the accuracy of that data however, the answers quickly start to vary.
It’s not uncommon for challenges that are considered “just the way it is” to be truly simple fixes if you attack them from a data quality standpoint. Doing a cleanse of your customer database can make a world of difference for your customer communications, customer experience, and cost control.
Effective communication with customers is the foundation for driving revenue. If consumers aren’t receiving your messaging, how are they going to convert into paying customers? Problems like bouncing emails, returned mail, and disconnected phone numbers are communication roadblocks that have a significant opportunity cost. Running a bulk cleanse of your customer database will eliminate these issues and turn these pains into profits by delivering your marketing efficiently and effectively.
In a world where instant gratification reigns supreme, customer experience is what makes organizations stand out; for better or for worse. Customers expect to receive their packages promptly and any delay—regardless of whose “fault” it is that the package is delayed—reflects poorly on you and can be a deciding factor in whether they become a repeat customer. On the opposite end of the spectrum however, if your checkout process is smooth and simple and they receive their product in a timely manner, the likelihood that they’re satisfied and will purchase again increases drastically. When it comes to customer experience, data quality is an important piece of the foundation that keeps customers coming back for more.
It’s not uncommon for organizations to think of returned mail costs as “costs of doing business.” Whether it’s returned catalogues, letters, or packages, the money adds up fast. Not only would that money be better spent elsewhere, it would also save time for the people tasked with dealing with returned mail, as well as ensuring all your mailings reach their intended targets. In many cases, cleansing your existing address database will eliminate most of your returned mailings for a fraction of what you’re spending.
Overall, it’s important to understand how data quality affects your organization. Your data is an asset; if you leverage it effectively, the value it can bring is exponential. If you neglect it, you’re directly losing money as a result and incurring additional opportunity costs.
Meaningful connections with your customers starts with quality contact information. Try a free trial of Experian’s data validation tools today and see the results that it has on your business for yourself.