Trusted customer data leads to twice the revenue
Survey indicates how to extract more value from marketing expenditures.
Research has consistently shown that personalized email campaigns lead to 2-3x higher conversion rates than mass emails.
But a new survey has found that many companies struggle with personalization because of a lack of data integration and bad data hygiene practices. If marketers can’t trust customer data, how can they use it for more relevant, personalized, timely interactions that drive revenue?
According to the study by market intelligence company the Aberdeen Group (Customer Analytics: Leveraging Customer Data to Fulfill the One-to-One Marketing Imperative) the top two challenges with customer data include an inability to segment and target customers through customer data (50%) and a lack of trust in customer data (34%).
“Best-in-Class companies are customer data champions demonstrating a strong organization-wide culture that values customer data management and actively uses customer data to build more meaningful customer experiences,” said Ian Michiels, Research Director for Aberdeen’s Marketing Automation research practice and the author of the report. “Customer data is stifling marketing efforts across the world. Disparate data, lack of data hygiene practices, and a lack of resources to support customer data have left Laggards and Industry Average companies with inferior performance in return on marketing investments.”
The findings represent a call to action for all marketers to start taking an active role in managing customer data. The study highlights customer database processes and procedures from 155 organizations to identify how top-performing organizations build trust in customer data and use this information to achieve superior performance in marketing.
To obtain a complimentary copy of the report, visit: www.aberdeen.com/link/sponsor.asp?cid=5870