Through no fault of their own, many businesses often find themselves with poorly maintained and inaccurate databases. Whether it is human error at the input stage, or just a lack of data supplied by the customer in the first place, a business’s incorrect and poorly kept database can quickly result in wasted marketing effort and spend.
The importance of having up-to-date data to work with can’t be emphasized enough, whether you are using direct mail, outbound calling or a simple email to contact your customers and prospects.
It hardly matters how slick your pitch is or how sophisticated the delivery if there is no recipient at the other end. All the resources spent towards the execution would have been a waste.
However, if you have accurate and up-to-date database you can:
Minimise compliance risks
With the most recent Facebook breach following on from the not so recent but not forgotten Facebook – Cambridge Analytica scandal, data security and permissions are more important than ever before.
Regular cleansing of databases helps businesses to keep a close eye on customer contact permissions and ensure those who have opted out of communications are not contacted.
Maintaining a clean and organised data set will help avoid large fines associated with breaching GDPR rules in the UK and EU.
Protect your reputation
One in 20 Brits deleted their Facebook account after the Cambridge Analytica scandal, denting the giant’s reputation and revenue.
In a highly competitive market, businesses are working hard to build up their reputation and gain customers’ trust. People don’t like receiving information that has no relevance to them. Spam mail and unsolicited contact will damage the reputation of a brand.
Having an accurate data set ensures that your communication only reaches people that would benefit from receiving them. It increases the likelihood of generating business and helps maintain the brand’s integrity and reputation.
Improve your decision making
Accurate information and quality data are essential in decision making and execution. It enables for more accurate analytics, builds a greater understanding of the targeted audiences and develops more effective strategies that will contribute to the overall long-term success of the business.
Boost your results and revenue
Clean data makes for better results and greater ROI on marketing and communication campaigns. For example, businesses can significantly reduce the cost of direct mail. If there are any time sensitive information or promotions that the business wants to convey to their customers directly, accurate information can help in reaching the customers conveniently and quickly.
Clean data also helps marketers to identify high-value prospects more easily. By segmenting, marketers can target individuals with personalised messages that are more likely to generate high-value business, and lead to increase in responses and interactions, which will help achieve overall business goals and drive revenue.
Why do we need to clean Data?
Simply put, to save time, increase overall operational efficiency and ensure long-term customer relationships. A study by research firm SiriusDecisions revealed that data in an average B2B organisation doubles every 12-18 months. The data might be clean initially, but errors can slip in at any time. Plus having the newest, most accurate information will help you get the most out of your marketing efforts.
How do you do Data Cleansing?
You can start with getting rid of extra spaces, selecting and treating all blank cells, removing duplicates, changing text to lower/upper/proper case, converting numbers stored as text into numbers, spell checking and most importantly making sure that all the data is up to date and correct, either via an email or phone call.
Data cleansing takes time, lots of effort and valuable business resources. If your business is unable to be without one or all three you can approach a Data Cleansing company to do it for you. However, it is important to ensure that the company has a good reputation, is a member of an association as they will be bound by their tight rules and is GDPR compliant, which will ensure they do not misuse your data.
Many businesses prefer to grow their databases naturally through email or newsletter sign ups, website downloads, events or through recommendations. But if you need to purchase your data there are two main factors you need to consider when choosing a company to purchase and cleanse your data.
Provenance is how your data is sourced, validated and structured. Data and Marketing Association (DMA) members, for example, are bound by their terms and conditions to provide data whose provenance is sound and where the opt-in credentials of every single record can be traced. The thoroughness and accuracy of each field must sit comfortably within stringent quality thresholds prescribed by the DMA.
Relevance is the likely interest of each recipient in your products or services.
BDM Talk can help you cleanse and enhance your database in a cost effective and time efficient manner, ensuring that you have the most up-to-date and accurate information at your fingertips, empowering you to tighten your targeting and reduce your marketing costs.