A Database makes customer information easy to handle and can help improve service and strengthen relationships. Digital marketing such as email campaigns, telemarketing and customer service activities are much more straightforward when you have instant access to the contact details of all your customers and prospects and information about all your dealings with them. By knowing your customers better and keeping in touch regularly, you can improve your sales.
As a data-driven initiative, marketing automation is heavily dependent upon the accuracy, completeness and validity of the data on which the technology will run.
Inaccurate and out-of-date data, gaps in information and poorly integrated data will all serve to compromise the core objectives of marketing automation, hindering the ability to create relevant, timely and engaging communications, and ultimately undermining efforts to increase loyalty and sales.
Worse still, marketing processes driven by bad data can actually damage customer relationships, as demonstrated by numerous studies.
According to one survey, 55% of respondents had been sent information about an irrelevant product by a business in the previous 12 months. A large minority (47%) said they are “annoyed” when a business gets their personal information wrong, and 35% said such errors reduce their faith in the organisation to do a good job.
Indeed, poor data management is commonplace. In a recent survey by Demand Gen Report, it was revealed that more than 62% of organisations rely on marketing/prospect data that is 20% to 40% incomplete or inaccurate.
It is clear that having the right database management tool plays a vital role in accurate and therefore productive marketing.
MyDMT, Strategix’ database management tool, can be used to support master data management by removing duplicates, standardising data (mass maintaining) and incorporating rules to eliminate incorrect data from entering the system in order to create an authoritative source of master data. Master data are the products, accounts and parties for which the business transactions are completed.