Accurate Data: The Foundation for Personalization
Nothing will make users delete an email faster than a “Dear Customer” greeting. As more people seek out integrated experiences across different channels—whether it’s via email, social media, or text messaging—marketers are being challenged to provide personalization every step of the way.
However, this type of personalization across all channels can’t be accomplished without accurate and up-to-date data—data insight that can allow marketers to leverage the right information in order to reach the right customers and ignite buying relationships. By gathering the most complete and accurate consumer information, your business will be able to predict customer behavior and needs, as well as tailor offers and communications very precisely across a myriad of channels.
If your company acquires this valuable data insight and successfully delivers personalization, it could experience improved response rates, repeat purchases, and increased revenue. In fact, 86% of buyers who have experienced personalization state it has at least some impact on what they purchase and 59% say it has a noticeable influence on purchasing, according to results from Infosys’s survey Rethinking Retail. Moreover, of the retailers who currently offer personalization, all of them in the survey have experienced at least one benefit:
- 74% report an increase in sales
- 61% experience a profit boost
- 58% cite a jump in online traffic
- 55% see a spike in customer loyalty
So, how will your company obtain accurate data to ensure these benefits? By verifying the accuracy of customer data, along with keeping your data fresh, your enterprise will be on the right track. Let’s check out these steps in further detail:
- Confirm Identity and Contact Information
a. Millions of people change their phone numbers and switch email providers every year, making it tough for marketers to send messages to their target audience. As a result, validating the identity and contact information for every prospect is key to ensuring personalized communications. Otherwise, customer information will be meaningless if it hasn’t been properly verified.
- Maintain Up-to-Date Information
a. After the validation process, businesses need to continue to follow up, ensuring their customers’ email addresses and phone numbers remain fresh. If they fail, the company can waste their time in non-existent contact channels or phantom leads. What’s more, businesses can accidentally violate Do Not Call lists if the information is not up to date. To avoid this, look for a third-party verification partner to access accurate data.
- Connect Cross-Channel Data
a. By linking cross-channel customer data, your company will be able to figure out your most loyal customers, the most effective channels by which to reach them, and how to personalize messages. For example, combining a customer’s phone interaction history and website purchasing record can reveal plenty about their buying patterns and behavior. Consequently, your business will seamlessly discover the most lucrative customer segments and create more personalized messages for them.
Unfortunately, if the company cannot deliver this unique personalization and customers begin to leave, the outcome can be devastating – as the cost of attracting a new customer is significantly higher than the cost of keeping one. So how will your company respond to the personalization movement?