Big Data and Data Quality in Direct Marketing
A survey conducted by TEK systems (as subsidiary of Alegis Group, a talent management firm) found that over 60% of IT leaders lacked good data quality and had issues with data governance.
With the increasing production, storage and aggregation of data, the challenges of creating workable and maintainable data are increasing exponentially. Vendors surveyed claimed that customers routinely use sub-optimal data for analytics and marketing campaigns.
Some of the primary issues involve
- Incomplete data
- Governance of data quality on population
- Lack of data validation & corrupted data
- Incompatible characters sets & formatting
The concept of garbage in – garbage out still holds true. The true value of data, as a business asset that can be optimised and grown in value with time, is constrained and even jeopardised by poor data design and governance. The impact on customer outreach and direct marketing can really affect our customers at both a sales and earnings line level as they increase customer acquisition costs and limit the effectiveness of their marketing.
The UK-based direct marketing sector has extensive knowledge and experience of data management. As an industry we can help any company seeking to get on top of their data management requirements, to maximise return on their marketing investment through targeted personalised data-driven communication across any medium.
By using sophisticated software and a logical approach to data quality, mining and governance many mailing houses and data providers are able to ensure that marketing professionals can access the rich information and big data analytics that deliver effective messaging to audiences at the right time. Our industry’s data governance consistently demonstrates high security for data, a need demanded by cross-channel advertisers.
Data for marketing campaigns has been the mainstay of the direct mail industry long before ‘big data’ was heard of as a term, helping customers, to develop smarter and more effective marketing campaigns. Understanding your data shows how best to get started profiting from your data.
Customer data augmentation and enhancement services can further enrich key details to your customer database. This service allows you to identify key characteristics of your target audience; those most likely to drive customer acquisition. Customer data enhancement services are provided by many suppliers and lead to costs being saved, a more powerful campaign and as an added bonus – compliance with the data protection act.
If you understand and use your data properly, then building a business case for data governance, cleansing and targeted direct marketing can help you increase ROI in your marketing spend.