Discover data best practices in our “how to guide”

More data has been created in the past 5 years, than in the rest of history. This enables us as Marketers to be increasingly powerful, increasingly able to generate business for our organisations. To reach that Holy Grail: knowing our customers so we can market to them in a smarter way that leads to relevance for them and cost savings for us.

But are we making the most of all the intelligence that’s our fingertips? Without analytics and without actually acting based on the results, we are wasting a huge opportunity.

Data is the cornerstone of any Marketing activity. It underpins everything we do. It determines our success. It allows us to understand our customers’ behaviours so we can identify new opportunities. It saves our Sales and Marketing budgets by allowing us to put the right message to the right audiences and build profitable relationships. In essence, it is the most important part of an integrated marketing strategy.

We need to constantly review how we’re managing, reporting and improving our activity based on the insight data provides. We need to provide insight to our Sales teams on contact behaviour in order for their engagement to be more profitable.

But I’m getting ahead of myself. That may be the vision of ultimate success, but where do we start? Data Quality, that’s where.

Discover more about Data Best Practices in the Panovus “How to guide” to data

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The impact of data quality

If our aim is to bring in pipeline and we’re looking at 2% of our data becoming obsolete every month just through natural erosion let alone duplications and errors, how much of our time and money is wasted? A lot.

The same eDM goes to the same contact multiple times. A poor impression for a prospect, let alone a customer. Mail is delivered to the wrong address. That’s wasted time and money. In fact, 33% of those surveyed said that staff had been deployed inefficiently and 91% said that budgets have been wasted over the last 12 months.

So, what’s the result? A negative impact on profitability. Inaccurate data is an obstacle to acquiring and retaining customers, causing inefficiency which affects profitability. What can we do about it?

Find out here >>