The true cost of inaccurate data

Address errors affect:

• Revenue
• Savings
• Operational efficiencies
• Customer satisfaction

Despite industry differences, what all organizations have in common is the need for accurate data. And while the topic of data quality is very recognizable, address accuracy is rarely a focus.

What is the true cost of a bad address? Some scenarios impact revenue or savings, while other scenarios impede operational efficiencies and customer satisfaction. What should be quickly identifiable is the resulting vulnerability to sales, marketing, and customer support performance.

Returned mail increases costs

• How much budget was wasted on printing and mailing?
• How much campaign investment will result in no company gain?
• Will errors lead to staff conveniences in the future?

People miss important information
Without deliverable contact details, marketing, finance, and customer management teams cannot properly disseminate important information. Whether that information is for lead nurturing, customer invoicing, product delivery, or customer upgrade purposes, it is important that all communications are received.

And from a consumer perspective, an important communication must be relevant and timely. Many organizations mail marketing collateral based on sales cycle timelines. Additionally, finance or account management departments mail a number of time-sensitive materials. All of these communications could easily be delayed or undeliverable if the address is incomplete or inaccurate.

Source: © 2010 Experian QAS Limited.

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