It isn’t always obvious that you have bad data in your marketing list. At the surface you see a database, full of names, emails, addresses, job titles – the list goes on. But what’s hiding in the data? Poor data quality has a direct impact on the bottom line, costing companies as much as 12% of revenue with misspent marketing dollars, resources and efforts. Often times, it’s what you don’t see in the database that is hurting the success of your campaigns.
Incomplete Records
According to a recent Gartner study, 40% of an enterprise’s data is missing, wrong or incomplete at any given moment. With this in mind, it is no wonder that incomplete records are the leading occurrence of dirty data. Empty fields and missing attributes make it impossible to target relevant communications and identify loyal customers.
Duplicate Records
While most companies deal with duplicate customer records, duplicate materials are becoming a growing – and costly issue for companies. Just imagine the costs associated with mailing 4 or even 5 of the same mail piece to the same person. In addition to the costs of duplicate print and postage, this duplication can potentially negatively impact response rates and hinder the overall ROI of your marketing activity.
Inconsistent Entries
A recent industry report found that 41% of B2B marketers surveyed attribute inconsistent data as their biggest obstacle for maximizing ROI. This redundant data occurs when data is not appropriately shared between two systems. Often times, organizations lack single data entry rules and different departments store the same customer under different names.
Inaccurate Records
Research shows that an overwhelming majority of organizations – over 90% – report errors in their contact data. Real, yet inaccurate information, these minor errors in customer addresses can result in deliveries to the wrong location and act as a costly interruption to business processes.
Clean up your data for just a fraction of what your poor data quality may be costing you in lost revenue. With a full suite of list hygiene and data services, Redi-Data can help you ensure your own marketing lists are the highest quality right from the start and eliminate waste and unnecessary costs. Fix outdated information, identify new opportunities, and enhance your customer data with in-depth details and appended information for a robust client file.
Redi-Data…Turning the Best Data into Better Business