Capture data accurately at the point of entry. Intelligent
tools that can validate information as it is being collected
are crucial to reducing errors and pay for themselves by
virtually eliminating the higher cost of isolating, cleans-
ing and correcting after the fact. Regardless of budget
constraints, up-front postal and e-mail address verification
software generally renders stronger and more immediate
ROI due to reductions in undelivered mail.
Maintain a hygiene regimen. Once you capture good,
en years ago, I had a great relationship with my If there is one asset that should be kept in top shape clean data, it is crucial that you do your best to cost-effec-
bank teller. I knew her sons’ names, noticed despite this time of economic turmoil, it’s consumer data. tively keep it that way. Run change of address processing on
when she got her hair cut and told her about Accurate, current and precise data is the key driver for those records to be mailed as closely as possible to the mail
my efforts to save for a new car. Today, I visit 24- maximum ROI. Poor data quality translates into bad date. A recent study undertaken by the US Postal Service
hour ATMs, use direct deposit, make automatic decisions, which can severely impact an entire organiza- and Christensen and Associates for the R-2006-1 rate case
bill payments and receive automatic e-mail alerts if tion in myriad ways: The wrong customers could get the found that 4.7% of all mail is undeliverable. Reduce mar-
my balance hits below my preset limit — all without wrong messages and campaigns could become irrelevant keting waste associated with lost or undelivered mail, and
speaking to anyone. and ineffective, leading to dissatisfied customers. fix as many records with deliverability issues as possible.
While my days of free coffee and casual conversa- There are ways to conserve your resources and maintain Prevention is much better — and cheaper — than finding
tion are gone, I’m giving the bank a lot more informa- high data quality. Reassess what data should be collected a cure or having the piece not delivered.
tion about my financial goals and needs. In return, I based on your business. Keep and expand data providing Obtain postal discounts and improve campaign per-
expect them to contact me if a regular check hasn’t high value, and reduce or cut those that don’t. formance by isolating undeliverable as addressed mail.
been deposited, if the charges to my card start to Audit your data and identify where errors occur. Perform There is a small investment involved in address cleansing
follow a suspicious pattern or if they build a new a data source analysis to determine where the data origi- solutions and services that more than pays for itself.
ATM in my neighborhood. In fact, I — like most other nated and ensure each field contains valid, verified data. email@example.com
consumers — now have much higher expectations for
service. The availability of so much data has put the
onus on marketers to respond quickly with compre-
hensive solutions and appropriate messaging.
Financial institutions are not the only ones who
have seen a radical shift in the level of regular com-
munication that is expected between a brand and a samples of Internet pages accessed, then infer interests or
consumer. Through personalized preference pages, behaviors. The problem has always been that capturing
any retailer or media outlet is able to customize the