If you are a part of marketing, you must be quite well versed with how essential it is to reduce costs in whatever best way possible. In a world where budgets are so limited, we need to take utmost care in understanding the right channels that are bringing maximum returns on our spent marketing dollar. This means we need to make our marketing campaigns more efficient.
Let’s start with the channels you use for running your campaigns to your contacts. We assume it is at the very least 2; email and telephone (and maybe direct mail as well). Can you find out the discarded data you have residing from your campaigns? In direct mail, the returned mail back can help you to figure out the cost of invalid contacts. But what about the phone numbers? Can you find out the incorrect or unhealthy information sitting in your prospect database? And what part of your marketing campaign budget is getting utilized?
Besides, taking up the major chunk of your budget, an inaccurate and filthy marketing database results in you missing out on numerous sales opportunities by having incorrect prospect information.
Identifying the costs relating to bad quality or outdated data is extremely difficult but it is all the more critical to vindicate attributing resource to solve the data related issues.
There are numerous fundamentals that need to be considered; how much data I have residing in-house? What would be the true cost of the bad quality data records?
This is where SMARTe can work with you as a strategic partner. Our unique & extensive ‘Data Audit’ services can assist you in knowing your existing contact data hygiene. We cover whole range of sales & marketing data that resides in your repository through tools like marketing automation, CRM systems, etc. Using our technology plus domain expertise, we slice and dice your contact data to provide you meaningful insights on your in-house contact data collected from various marketing channels such as inbound leads, web form data, trade show data, etc. We even recommend some smart practices of data scrubbing and management.