Cleaning your customer data is almost like taking a duster to your customer files or books of business. Dirty data can include outdated phone numbers, contact names, addresses, and more. On average, bad data costs the U.S. economy $3.1 trillion per year.
When working with your customer data, you will want to be aware of the 1-10-100 rule. That’s $1 to verify a record as it’s entered. It will cost you $10 to fix it later, and $100 if you do absolutely nothing. The rule was developed by business management experts George Labovitz and Yu Sang Chang in 1992.
Check out our seven tips to clean customer data below:
1. Use clean customer data to boost marketing campaign results.
Say you’re sending out a direct mail or email marketing campaign. You think your contacts are up to date, but are you willing to risk missing on a percentage of those people? If this is something you’re dealing with now, data enhancement is your solution.
2. Address standardization can save you time and money.
Paper and postage aren’t free. If you’re not sure every postal address is the most up to date, you’re potentially sending postage on a roundtrip back to returned box. Plus, we all know stamps aren’t getting any cheaper.
3. It’s a way to increase your revenue.
Once you take your existing customer data and lists, cleanse them, and then you’re ready to power your business process with reliable information that will help you get your return on investment faster.
4. Eliminate the guess work in your data.
Hello, sir? Hello, ma’am? Not sure? Uh, oh. Clean data gives you the right information you need about contacts including gender, age, and more. It eliminates the guess work of deciding whether Sam is short for Samuel or Samantha.
5. Knowledge, err, we mean clean data … is power!
The more information you have about the target audience for your campaigns, you increase the likelihood of generating responses and actionable results.
6. Clean data helps light the way to new business.
Imagine when you’re prospecting with very little information about your next cold call or customer meeting. The chance of you succeeding is arguably less than if you had all of the information about them beforehand. This is why clean data helps light the way to new business opportunities and revenue.
7. Customer retention is easier when you know more about your customers.
You have the upper hand when you know more about your potential customers before contacting them. This creates a strong foundation for the relationship between you and your customers.
Now, that you know why clean customer data is important, you’ll be able to take your business, sales team, or marketing agency to the next level. Visit Data Axle Genie’s data quality page or call 877.708.3844, if you’d like to learn more about our clean customer data.