Speedeon Data Blog

When it Comes to Your Data, are You Sailing Along or Sinking?

Posted by Jim Iott on Aug 14, 2013 5:13:00 PM

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. Is your company successfully navigating these turbulent but rewarding waters or are your marketing programs adrift in a sea of uncertainty? Without an effective data modeling or analytics strategy, your expanding data is likely becoming a liability as you slowly sink from the real and opportunity costs associated with inaction. If you’re not properly analyzing your data then you are not getting the most out of your data. There are a number of options to get your bearing back on course.
 
Innovative Data Solutions
 

Data Hygiene and Data Optimization solutions enable you to analyze and improve the overall quality of your current and prospective customer data, and to answer important questions, such as:

  • How accurate is my contact data? Am I maintaining correct phone, address and email data for my customers?
  • Which data records are correct or can be fixed or updated?
  • How quickly is my data decaying and becoming inaccurate?
  • What is the quality of different data sources used to compile my customer or prospect databases?  

Data Hygiene and Data Optimization solutions enable you to maintain the highest quality contact data, and to reduce costs while increasing response rates and return-on-investment.
 
Data Append solutions add missing contact data to existing customer or prospect records. For example, correct postal or email addresses can be appended to phone numbers collected at point-of-sale. Your data can be further enhanced with best-in-class Demographic DataModeled ZIP+4™ DataMover Data, and other marketing data. Data overlays facilitate more extensive data analyses and more robust data models that lead to actionable insight. For example, where do your best customers live? How is purchase behavior impacted by of wealth, marital and parental status? To what extent are new movers more likely to open an account or contract your services?
 
Data overlays also enable you to map online and offline behavior and leverage more effective omni-channel marketing strategies.

 
Data Models: Objective-Focused, Data-Driven
 
You might further consider a
 data model. The most common types of direct marketing models are Response Models and Cloning Models. 
 

  • A Response Model utilizes multivariate regression analysis to identify influential attributes driving likelihood of response, to rank customers or customer prospects by their potential for response, and to predict future behavior. 
  • A Cloning Model enables you to identify high potential prospects by mapping key demographic or geographic characteristics of your best customers to similar individuals from your own customer or prospect files, or from 3rd party data sources.
  • Data models are data dependent; results for similar companies running similar models vary greatly based on opaque but unique differences in the underlying data. Therefore, it is critical that the design, implementation and outcome of your data model address your specific objectives.

Speedeon Data® is uniquely positioned to help you get the most out of your data by combining the most accurate and comprehensive contact and marketing data available with innovative data hygiene and data append solutions, and extensive data modeling and analytical capabilities. We will get your customer data is in shipshape condition, make certain your marketing programs are smooth sailing, and chart a course for increased response rates and revenue, and improved return-on-investment.

 

Topics: Data Append, Data Hygiene, Modeled Data, Data Optimization

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