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Reasons why businesses need to maintain accurate customer data

Blog post   •   Jun 29, 2017 15:53 BST

Reasons why businesses need to maintain accurate customer data

Reasons why businesses need to maintain accurate customer data

According to Harvard Business Review, data is the next big thing in content marketing. Furthermore, industry analysts Gartner cite real-time analytics as the biggest area of IT differentiation, and a recent report revealed that 78 per cent of executives believe that data will solve top organisational challenges.

All of this points to the fact that in today’s era of big data, in order to improve their competitiveness, organisations of all sizes and in all sectors, need to focus on harnessing the power of data for maximum business value.

Here are ten reasons why you should take a closer look at address accuracy software

1. Ensure your business is above average 

Research from Experian Data Quality revealed that the average organisation estimates that 22 per cent of all its contact data is inaccurate in some way. By focusing on managing the quality of your data assets, you can ensure your revenue and customer experience is better than the average organisation.

2. Make data a valuable business asset

Keeping data accurate and up-to-date is becoming an ever-increasing concern. Studies found that 94 per cent of data-dependent businesses believe that some aspect of the data they hold is flawed and more than 70 per cent of organisations running loyalty programmes reported inaccurate customer information as the chief cause of problems

3. Put your business in control

One commonly quoted statistic is that databases are 30 per cent or more inaccurate at any one time. Make this a thing of the past with DQ Plus address accuracy software checks all of your data against the Royal Mail Postal Address File, enabling any errors to be controlled with your choice of subsequent action.

4. Dial in to your data

According to IDC’s Digital Universe study, the amount of data on the planet is set to grow 10-fold by 2020 - from around 4.4 zettabytes to 44ZB. The required investment to cope with this data surge means that many data quality projects are deemed impractical, in fact it’s reported that 70 per cent of them fail.

By breaking down the body of data into smaller parts or views that yield more information, DQ Plus offers the unique capability to dial in to your data, and perform a ‘final check’ before you proceed to communicate with your audience.

5. Maximise your return on investment

Data-driven marketing organisations are experiencing ten-times ROI on their campaigns. With powerful address accuracy software, you can be confident in your data, even when it comes from different sources.

6. Communicate and connect with your customers

DQ Plus enhances and improves your data, helping you to maximise your customer connections. When used with OMS-500, you get a simple and reliable solution to manage both mail and email, ensuring that the right document is delivered to the right person at the right address, through their preferred channel.

7. Make it personal

Nine out of ten marketers believe personalisation is the future - increase your response rates by correctly personalising communications. 48 per cent of consumers spend more when their experience is personalised, and 74 per cent get frustrated when content has nothing to do with them

8. Improve multi-channel communications

With DQ Plus, incorrect addresses, email addresses and personalisation issues can all be identified and fed back into the organisation, allowing you to control communication channels. OMS-500 can be instructed to send a letter when an email address is found to be lacking or incorrect

9. Save money

Machine readable mail is formatted so that machines can read and automate processes enabling businesses to save money by always accessing the best postage discounts, such as Mailmark. Plus, ensuring that addresses are correct and formatted in the right way, minimises wastage, as well as ensuring your communication gets in the hands of the person you want to communicate with.

10. Be compliant

Take the manual labour out of GDPR compliance. DQ Plus aids compliance as correct data ensures that the correct information is delivered. Other advantages include alerts that tell you to contact those that are close to expiry of your right to contact, the ability to collate all the information you hold to a single master view from disparate sources, and to manage your list of ‘Do not Contact’.

Find out more at https://www.neopost.co.uk/DQ-plus

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