Data quality mainly revolves around three questions: who is my customer, where does my customer live and how do I reach my customer? In a series of three short blogs we will focus on a question that, based on the customer data held in your database, you should be able to answer. In this first part, the central question is "who is my customer?".
As a company, you want to be able to communicate relevantly with customers and ensure an optimal customer experience. This means ensuring that customers receive a letter with the right salutation and name, that they receive an offer by e-mail that suits them and that they do not receive social media ads for products or services they have already bought from you. You build the foundation of relevant communication by optimising the quality of your customer data to the fullest. And creating a good 360-degree customer view on that basis. A tool to test the quality of your customer data is the ACCU principle.
The importance of optimal customer data in customer communication is evident. However, it is well known that it is difficult to recognise a customer. Customer data is often spread across multiple departments and each department has its own challenges. For example, financial administration wants to make sure it has the right information about a customer to prevent fraud, while customer service would like to have fast access to the complete customer history in order to provide the best possible service.
It is obvious that the combination of first name and surname (or initials) are the most important data for identifying a customer. Yet our data quality benchmark shows that in 2.1% of cases, something is wrong with the surname or it is simply missing. That may seem low. But if you have a database of 500,000 customers, it means that 10,500 customers don't see their surname in any form of customer communication or detect an error in it.
To make sure you are communicating with the right person, you need more data than initials and a surname. For example, gender, a date of birth and an address. Our benchmark analysis shows that the date of birth of only 65 percent of customers is present in an average customer database. Another option is to include the address (which we will look at in more detail in a later article), but address information is not always known or up-to-date either.
When you have a customer's name, gender and date of birth, that is the start of your 360-degree customer view. You can use this to ensure that customers who were previously duplicated in the database are now merged. This will give you a more complete picture, and an RFM analysis will give a more accurate indication of which customers are most valuable.
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In this brochure you will learn more about how you can apply Audiences from EDM and what the advantages are of targeting the most relevant audience
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Are you responsible for acquiring new customers? Do you use data in your campaigns? Then use the SMART Audience Builder and convert up to 600% better than before in just a few clicks.
The SMART Audience Builder is an easy-to-use cloud tool that provides organizations with the ability to apply knowledge and insights to their own marketing data in order to increase conversions. Load any form of your own CRM data (Postal Code, House Number, Addition, Email, Phone) into the tool and gain additional insights from your own data. Through automatic integration with various knowledge and intelligence sources, you can apply attribute selections and predictive models to set up the most effective target audiences for activation. Throughout the entire process, you remain in control of your own data.
Approaching new relevant consumers who are genuinely interested in your proposition or product? EDM helps organizations create insights into existing customer groups, which can then be used to find potential new customers within the Netherlands.
With Audiences, we analyze the target audience based on historical data and data from current customer segments. This results in a target audience profile and channel preferences. We then set goals for all desired channels (Direct Mail, DPG media, Marktplaats, phone, and inserting). With access to extensive consumer databases, the best audiences are created based on various socio-demographic data, lifestyle characteristics, or advanced look-alike models. This enables the creation and activation of the best possible audiences, resulting in an average doubling of conversions.
An integrated customer acquisition solution. The proven method for effective data-driven marketing.
For every organization, acquiring new customers is crucial. To achieve this, recruitment campaigns need to be set up as effectively as possible. This means approaching the right target audience through the right channels in a data-driven manner. EDM has a proven method for data-driven marketing, which involves an iterative process consisting of 6 steps:
EDM analyzes the existing customer database and ensures its accuracy and currency. It improves the quality of incoming leads and analyzes them to gain insights into "who is the customer?". Then, an assessment is made of the channels already being used, which additional channels can be added, and how to optimize them as effectively as possible. This results in improved conversion rates and effectiveness, which serves as input for reworking non-conversions and continuously optimizing recruitment campaigns.
Are you responsible for acquiring new customers? Do you use data in your campaigns? Then use the SMART Audience Builder and convert up to 600% better than before in just a few clicks.
The SMART Audience Builder is an easy-to-use cloud tool that provides organizations with the ability to apply knowledge and insights to their own marketing data in order to increase conversions. Load any form of your own CRM data (Postal Code, House Number, Addition, Email, Phone) into the tool and gain additional insights from your own data. Through automatic integration with various knowledge and intelligence sources, you can apply attribute selections and predictive models to set up the most effective target audiences for activation. Throughout the entire process, you remain in control of your own data.
Approaching new relevant consumers who are genuinely interested in your proposition or product? EDM helps organizations create insights into existing customer groups, which can then be used to find potential new customers within Belgium.
With Audiences, we analyze the target audience based on historical data and data from current customer segments. This results in a target audience profile and channel preferences. We then set goals for all desired channels (Direct Mail, DPG media, Marktplaats, phone, and inserting). With access to extensive consumer databases, the best audiences are created based on various socio-demographic data, lifestyle characteristics, or advanced look-alike models. This enables the creation and activation of the best possible audiences, resulting in an average doubling of conversions.
An integrated customer acquisition solution. The proven method for effective data-driven marketing.
For every organization, acquiring new customers is crucial. To achieve this, recruitment campaigns need to be set up as effectively as possible. This means approaching the right target audience through the right channels in a data-driven manner. EDM has a proven method for data-driven marketing, which involves an iterative process consisting of 6 steps:
EDM analyzes the existing customer database and ensures its accuracy and currency. It improves the quality of incoming leads and analyzes them to gain insights into "who is the customer?". Then, an assessment is made of the channels already being used, which additional channels can be added, and how to optimize them as effectively as possible. This results in improved conversion rates and effectiveness, which serves as input for reworking non-conversions and continuously optimizing recruitment campaigns.