Callcredit Blog

Tackling the data dilemma – top tips for businesses: Blog 2/5 – First things first – quality is key

Consumer Marketing Data

In the second of a series of blogs aimed at helping you better use data to hit your objectives and improve ROI, I discuss the importance of a clean database and quality leads to help you understand your customers’ behaviours and insights.

Over half (55%) of respondents from our research of 150 senior marketing professionals across the UK, said that the quality or accuracy of data is critical to driving marketing decisions, yet only 36% said they were satisfied with the quality available. Getting the quality of your date right can have a significant impact on other marketing costs further down the line.

Target a smaller pool of higher quality leads to reduce production costs, as well as spend on things like media buying and distribution, which should lead to improved ROI across the board.

Top tips;

Invest in the appropriate quality tools to process data

A third of organisations said that not having the right tools in place was a barrier in their ability to process it properly. Whilst 67% of businesses expect to invest more heavily in the coming years in standard software packages, these are still too focused on processes such as Excel, when more powerful data solutions are available. The urgency to improve data analytics processes can be hard to reconcile with the scarcity of resource with which to do so, but rather than adopt a sticking plaster approach, organisations should consider using a professional data company that can deliver both more meaningful and in-depth results to drive genuine business impact.

For some more of the above insight download free The Marketer’s Guide to Using Data for some quick wins on how to stay ahead of the game in data-driven marketing.

Previous blogs in this data dilemma series

Aim for better, not more

Author: Steve McNicholas, Managing Director, Credit and Marketing Data

 

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