Quality data
The secret to successful marketing

"Quality data" is quickly becoming a popular term in marketing as executives realise its true value in reaching their customers. Quality data ensures that marketing efforts are focused, strategic and more importantly, maximised. It helps you create the right proposition using the right voice, at the right time and through the right channel.

Quality data tells you who your most profitable customers are and reveals information about your customer you wouldn't otherwise know such as how regularly they purchase your products and services and whether they are driven by price or quality.

There are many benefits of knowing where your greatest profit potential lies, including:

  • empowerment of your sales team;
  • it takes the guesswork out of deciding where marketing initiatives should be focused; and
  • it has a direct effect on the bottom line.

What all this means is your business can concentrate marketing spend on the areas that will bring in the most sales dollars.

That said there are myriad ways in which quality data can help you to maximise your marketing efforts and build better relationships with your customers:

Better segment your customer database -- define your target markets and customer groups around the variables or customer attributes that are the most predictive in nature. This includes demographic profiles and geographic location. More importantly, identify where the most profit potential lies in your market.

Make sure you get the offer right -- good data in the right hands is invaluable - it tells you what people buy, when they buy, where they buy, how they buy and most importantly, why they buy. This information allows a good marketer to design a fully integrated and multi-channel program for above and below the line initiatives.

Build decision support systems that work and provide valuable business insights -- the data you gather pre and post campaign is critical and should guide future marketing activities. For instance, which customers responded well to the campaign? Which didn't? What are the unique attributes of these customers? The answers to these questions will help to ensure that your next campaign is even more effective.

Understand your customers and their unique attributes -- the right data gives you the power to uncover the changing behaviours and needs of your customers. Building customer profiles based on this data gives you a clear snapshot of your preeminent customers and how best to reach them. Too often when we are heavily engaged in a market it's easy to believe most customers have the same needs and behave in the same way. However this approach can result in missed opportunities, a lack of understanding of your loyal customers and wasted marketing efforts.

It is important that marketers remember that data quality is dependent on the accuracy of the information being maintained. Business information is constantly changing which means that the data you used for a campaign six months ago may not be sufficient for the campaign you want to run now.

Maintaining the accuracy of your data ensures your message is delivered to the right customers -- it also holds the key to keeping in touch with your loyal clients.

Once you have the right data understanding it is simple. Technology has empowered marketers by providing them with the tools to clean up their customer data and remove duplicate customer records across product portfolios to give a single customer view. This recent shift in data management practices has seen it become a fundamental part of a company's marketing function, and has seen more and more companies investing in ways to improve and maintain the integrity of their data.

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