Melissa, a leading provider of global data quality, identity verification, and address management solutions, today advocated for prioritizing data quality in marketing operations strained by inflation and increasing costs.
“Data quality touches every aspect of business, making it one of the most successful areas to shave dollars off the cost of customer outreach,” said Greg Brown, vice president global marketing, Melissa. “The deeper customer insight powered by smarter data not only helps marketers target their audience in more powerful ways, but also ensures that correct, standardized, and validated information provides the most cost-effective foundation to all outreach and campaigns.”
Melissa technologies enable faster workflows through autocompletion tools that stop data mistakes at the door; reduce undeliverable mail based on validated, standardized addresses for customers worldwide; eliminate waste and lost opportunities from incorrect mailings; and improve customer satisfaction with seamless real-time identity verification tools. Matching and deduplication tools help establish a single, high-quality customer record linking all customer touchpoints for an ideal 360-degree view of each customer. And working in compliance with USPS®’s Move Update requirements assures the most current address data through processing in the USPS’s National change of Address (NCOALink®) database.
“All these benefits and cost savings are a direct result of data quality investments,” added Brown.
Melissa’s ROI (return on investment) calculator provides clear information on how data quality impacts real-world costs related to marketing and customer outreach. A sample scenario highlights a mailing list of 50,000 recipients with as many as 6,500 recipients undeliverable. Using address verification to remove bad addresses, the sender can save as much as $23,000 on postage and material costs. The mailer also benefits from increased response rates, earning nearly $300,000 more by incorporating an address validation process. See the supporting image, downloadable here.
Another example assumes an online shop sends 278 packages per day or nearly 100,000 parcels per year, with an average of 9% typically undeliverable. With address validation, mailers reduce undeliverable packages by 2/3. Return shipment costs are reduced by $40,000 annually, saving more than $570,000 in sales per year. See the supporting image, downloadable here.
For more information on how to improve marketing costs through proactive, seamless data quality, click here to download Melissa’s Solutions Catalog. To connect with members of Melissa’s global intelligence team, visit https://www.melissa.com or call 1-800-MELISSA.