Some time ago we came across a client that had sent a direct marketing piece to a Mrs. Obe. Mrs Obe was not pleased with the communication because that was not her name. The ‘Obe’ is in fact an OBE after her name (if you are not familiar with this, its a title given by the Queen of England to someone who has contributed to society in the UK – it stands for the Order of the British Empire). She was a prominent individual and when a complaint arrived at the company in question, a great deal of focus was put on data quality.
It takes a great deal of effort to acquire a new customer. If for any reason they see poor data being communicated to then, then you are significantly reducing the chances of them buying your product or services. If they are an existing customer, then they may move to a competitor.
Most people do not like to receive information that is incorrect in any way. A negative impression is created about the sender. Here are some common mistakes that can affect your reputation:
- Sending a misspelt name (a very common occurrence)
- Using the wrong title
- Sending correspondence to the wrong address
- Sending incorrect business information (job title or department)
- Incorrect company name.
How Do You Protect Your Reputation
Most errors of this nature are very easy to fix. The problem is that we are constantly adding new data and changing existing data. Even if you have a team of temporary staff fixing the issues manually, you only have to repeat the process sooner or later (remember data degrades).
The best solution is to have an automated process that solves most of the problems and then use staff to fix anything else. This will reduce your staffing costs and keep your data in good condition consistently.
You should aim for 95% of your data quality to be automated and 5% to be reviewed manually.
The 3 types of data review you require are:
- Address Cleaning
Here is an example of how your data can be standardised (there is an example of a UK record and a record from Denmark).
As you can see, poor data can have an affect on your reputation. Don’t wait until something goes wrong, proactively manage the quality through the 95%/5% rule and you will save on expensive staffing costs and have sustainable data quality. Protect your reputation.
If you would like further information on reputational risk contact Acuate:
|Telephone:||+44 (0) 20 8799 0360|