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How regular data cleansing can increase your marketing ROI
Marketing budgets in 2018 are generally expected to increase for B2B marketers albeit at a lower rate than previous years. However, it is still essential to make the absolute most of your marketing budgets.
Reporting on ROI to prove / quantify campaign success remains vital, with all eyes on Sales & Marketing to bring success ahead of the Brexit and GDPR uncertainties.
Clearly, more effective campaign concepts need to be a focus, but another fairly hassle-free way of improving the return from a campaign is to ensure that from the outset it is as cost effective as possible.
Cost Effective Campaigns
So how can you make sure your marketing campaigns are as cost effective as possible?
Shop Around – Data Providers, Printers, Mailing Houses, Email Service Providers and all other suppliers are vying for business, too. Make sure you get the best possible prices by requesting various quotes and negotiating before committing to any campaign-related spend. Don’t forget, cheapest isn’t always the best! Always do your due diligence – reputation and quality of service are key, especially when buying data.
Communicate only to active contacts – You should know the costs involved in circulating your campaign. So, if that cost was e.g. £200 per thousand, you would save £1000 if you removed just 5000 records where the contact details are either incorrect or out of date. This will also go some way towards improving your brand perception by communicating more effectively with existing and new customers.
Data Management, Cleansing and Processing
Getting your data cleansed will help keep your campaign costs down and thereby improve your ROI. You can start this process yourself by:
- Undertaking some in-house management and cleansing;
- Ensuring consistent formatting for data entry;
- Making clear the importance of precise and accurate data entry to any staff entering the information;
- Combining and de-duping files based on email address or another unique reference within the files.
Following this initial activity, you will need the assistance of a data-marketing specialist or provider, to help with the more advanced stages of the processing and cleansing of your data. They will be able to:
- Identify, remove, or consolidate remaining duplicate records
- Suppress or update data that is no longer valid
- Append new contacts
Data Quality Audit to Calculate Cost Savings
With Data decaying by up to 40% per annum on average, depending how regularly you update and cleanse your data, it could be partially or even largely out of date.
By undertaking our Free Business Data Quality Audit and using our Cleansing Service, you will be able to identify and remove data that is no longer valid, or that is duplicated within your file(s). This will highlight records that are not worth either mailing or contacting and save you valuable marketing budget.
The figures speak for themselves!
Further reading: Data HQ's complete guide to data quality
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