Data Quality The Foundation for Effective CRM
Data quality is an ongoing undertaking. You must ensure the quality of existing as well as new customer data. More than 40 million Americans move each year. To make certain all communications reach customers, businesses that are aggregating customer information in a centralized repository should use solutions that offer the most recent postal change of address information—to maintain the relationships they've worked so hard to cultivate.
Not only should you verify and consolidate customer data, you should also enrich that information with demographic and geographic data. In addition to comprehensive firmagraphic data such as number of employees and revenue for business-to-business marketing, there also is a variety of demographic and lifestyle intelligence that can provide greater insight into a customer or prospect.
For instance, if our casual menswear consumer resides in an affluent area, an offer for Ralph Lauren polo shirts will most likely be better received than one for a non-branded shirt. Adding geographic intelligence to your customer file also is of great value. And if you know where the customer is located geographically, it is easier to direct that individual to the correct store. Developing marketing offers based on this type of intelligence leverages your understanding of the customer.
To maximize the ROI from CRM investment, ensure the accuracy of your customer data. A CRM solution is only as good as the quality of the customer data that feeds it.
David Peikin is corporate communications manager for Group 1 Software, a Lanham, MD-based CRM software
solutions provider. He can be reached at (301) 918-0818, or e-mail: firstname.lastname@example.org.