Information about customers, and the insight you gain from it through good data management, needs to feed the multiple communications channels you use to inform all customer interactions.
Unfortunately data can go bad and this can have a big impact on the success – or otherwise – of your communications. Data can be captured incorrectly, stored with errors and go out of date. It’s such a big problem in fact, that 94% of businesses that depend on databases believe some aspect of the data they hold is flawed.
Which costs their business dearly. As much as 12% of income is lost because of bad contact data, which results in wasted marketing spend and resources, as well as lost productivity.
Also accurate customer data is critical to the successful implementation of a Multi-Channel Communication programme. It is also a must have for all businesses. The Experian Global Data Report 2014 found that the average organisation loses 12% of its income because of bad contact data, through wasted marketing spend and resources as well as lost productivity.
How you collect, store and maintain data is therefore critical to successful multi-channel communications and the success of your business overall. When it comes to data collection and maintenance, keep these four rules in mind:
|4 data collection rules||4 data maintenance rules|
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Source: Experian (2013)
With data, comes responsibility. There are rules, guidelines and principles around how it is obtained, recorded, stored, updated and shared. You need to know what these are and how they apply to your business. The Neopost Simple Guide to Data Protection,is a good place to start. Download the guide at www.neopost.co.uk/data-protection-guide
In our third blog, we will look at the role and importance of the channels in a multi-channel communications programme. But you don’t have to wait until then, you can find out more in our guide Smart Ways to Manage Multi-Channel Communications www.neopost.co.uk/mccguide(where you’ll also find the sources of statistics quoted in this blog).