What is the current state of your customer data? If this isn’t something that you spend your time thinking about, chances are that the answer might surprise you. It a 2013 report, Gartner found that companies surveyed estimated that on average poor data quality costs $14.2 million per year.
Speedeon Data Blog
Topics: Data Hygiene
The groundswell of online and mobile communications, rising levels of data storage and processing capabilities, and other technology innovations are expanding marketing channels and charting new courses of interaction between brands and customers. At the same time, these changes are creating a tsunami of valuable customer and marketing data.
Ok, you vigilantly brush and floss in the morning, at night, and in between meals. You religiously rinse with the latest anti-bacterial, super-fluoridated, ADA-endorsed mouthwashes. Your idea of a “treat” is periodically giving your already pristine “chompers” a surgical dousing with your top-of-the-line water flosser. Good for you and your teeth - you are doing all you can to battle tooth decay and gum disease.
Ten out of ten dentists will likely tell you that the secret to keeping a pearly-white, cavity-free smile is daily dental hygiene. Bacteria and food form plaque and acids in our mouths, which unfortunately results in decay. This process is relentless, and although regular dental check-ups are important, we all know the primary means of battling persistent tooth decay is daily dental hygiene – such as brushing, flossing, and even rinsing with antiseptic mouthwash.
If you remember the laundry detergent commercials from the 50’s and 60’s, then you understand the concept of “Brand X”. The shirt or blouse laundered in the advertiser’s new and improved detergent always seemed to come out whiter and brighter than the clothing washed in Brand X detergent representing the other leading brands. In retrospect, those commercials seem quaint, nostalgic, and even a little hokey. But the basic concept, the fundamental tool…that is the side-by-side comparison, remains alive and well.
Earlier this year, the United States Postal Service presented data from a 2010 Undeliverable As Addressed (UAA) study. The 2010 data was compared to data from similar studies conducted in 2004 and 1998. Although UAA mail has reduced significantly from 2004 to 2010, the overall volume of UAA mail still remains high and results in significant costs to mailers and the USPS.
“Would You Drink Coffee That Was Brewed A Month Ago?” happens to be the headline of a new ad that we recently produced for an upcoming conference guide and trade publication. The ad intends to convey, hopefully in an interesting and memorable way, how customer data, like coffee, quickly becomes less accurate as it ages, leading to “bitter” results in terms of lower contact, delivery and response rates, and lower revenue and ROI. Just as you would never drink month old coffee, you certainly would not want to diminish marketing results or squander valuable marketing dollars by using inaccurate customer contact data.
The ad further explains how Speedeon Data maintains the “freshest” customer data in the industry (hint: each day, we “fresh brew” our data using more than 3,000 public and proprietary data feeds), and makes data available through our new mover programs, data optimization and data append services, and other innovative data solutions.
We also introduce our new Multiple Variable Processing “MVP” service, which provides industry leading hygiene and address deliverability by leveraging key components, including: CASS software, Address Standardization metrics, Address Mailability Verification, our Proprietary Change of Address service, as well as the National Change of Address.
If you are a direct marketer who is interested in maintaining the highest quality and most accurate customer address data, then we welcome the opportunity to speak with you further about MVP.