Data is a shockingly underused resource in the modern business world. Despite the fact that most businesses collect it in some fashion, a mere 39% of them are actually making use of their contact data in a productive way. Part of the reason for this may be that this data is not of sufficient quality to be helpful. This is, of course, a tremendous waste. This resource holds incredible potential, and while it does require some active intervention to render it useful, getting your data quality in line up-front sure to pay off.
Excellent quality data is an elusive thing. Only 3% of all companies have databases that conform to even basic data quality standards (meaning that 97 out of 100 of their records are considered to be of good quality). This is an extremely low number, but perhaps it shouldn't be surprising. There are six key features that make up excellent quality data, and all six must be present in order for data to qualify.
Topics: Contact data quality management
Here's a shocking statistic: poor quality data reportedly costs businesses $9.7 million per year. What's worse, the nature of the problem means that you probably don't even know if it's affecting you.
Getting the Right Data
Data is a huge part of what makes modern marketing and selling techniques possible, and that's why we all keep contact data records. However, not just any contact data will do. You need quality data if you're going to make a positive impact on your business, and that's where contact data quality management comes in. This term refers to the process of monitoring and controlling the quality of your contact data - data that is:
Think your boss doesn't care what your email bounce stats look like on each marketing campaign you run? Think again. Email marketing still produces over 4 times more revenue per dollar spent than any other digital marketing channel, so you can rest assured that your superiors want you to get it right. We've compiled a list of 8 critical things about email bounces that you might expect your boss to worry about - use these guidelines to get ahead of the game and impress them before they even bring anything up to you themselves.
Now that digital marketing is becoming an increasingly important piece of the industry (it's projected to take over 54% of overall marketing budgets within the next 5 years, with even greater increases for smaller companies), the role of a marketer has evolved. It's no longer enough just to create great engaging campaigns; you have to know how to optimize the technical infrastructure you use to deliver them, too.
Quality marketing does not matter when your technical specifications are not in order. The most successful email marketing campaigns actively manage email bounces, and to make it to that level yourself, you'll have to do it too.
Sending an email is easy, right? Just write it up, enter in the appropriate email addresses, and let it go. Marketing emails don't work that way; only 85% reach their intended recipient. Too many marketers don't realize this until they've incurred significant losses from that lack of knowledge. If you don't know what email deliverability is or how to improve yours in your campaigns, you're not operating at your full capacity as a marketer.
Email marketing is a relatively simple marketing technique that offers a great ROI, but only if it's done right. Did you know that many of your marketing emails may never be reaching your subscribers' inboxes? If you weren't concerned about your email delivery rate before reading this, you should be.
Email marketing is the cornerstone of any modern inbound marketing strategy, but the design and content of the messages are not the only things you should be considering. Investing in email quality verification is a vital part of a smartly designed campaign and will ensure that those emails actually end up where they need to go. After all, the flashiest and highest-converting campaigns are worthless if they can't reach potential customers.
"By introducing data quality initiatives, some companies have added millions of dollars to their bottom line as they gain benefits such as increased sales, lower distribution costs and better compliance" - Andreas Bitterer, Gartner Research vice president.
Big data and business analytics forecast to reach more than $210 Billion dollars in revenue through 2020. But what it means for quality data?
Whether we are aware of it or not, data regulates many important decisions in our lives. Think of the way we communicate, the tools we use and the way we ran our company. Data is everywhere around us and has a tangible impact on our daily lives.
But what happens in a company when decisions are based on bad data? What are the impacts?
Topics: Contact data quality management