Data quality must improve for marketing analytics to work

With the cross-channel revolution well underway, marketers are trying to keep up with savvy consumers who make purchasing decisions quickly. To better reach consumers, organizations are working to better understand each individual to provide a more coordinated experience across channels.

New Experian QAS research shows that organizations are operating across an average of 3.6 channels. The most popular channels for interaction are the organization’s website, physical store or branch location, and face-to-face interaction via a sales team.

Unfortunately, many marketers lack the data required to operate across these channels effectively. Respondents in the new survey cited the biggest challenges around engaging in cross-channel marketing are having enough consumer data and having accurate consumer information.

These problems directly relate to the fact that 89 percent of organizations believe their customer and prospect data might be inaccurate in some way. On average, companies thought that 25 percent of their data was inaccurate.

In addition to struggling with cross-channel marketing, many organizations also struggle to execute daily operations and create relevant marketing and loyalty offers because of inaccurate data.

To take advantage of the wealth of information available to marketers today, organizations need to improve data capture and data management practices. To get the most out of information, it needs to be accurate, complete and accessible.

Marketers need to be involved in cross-departmental conversations about:

  • Linking customer records
  • Improving data capture across channels
  • Appending third-party intelligence

By focusing on data quality, marketers will be able to overcome some of the biggest cross-channel challenges and better understand their consumer. Creating a firm foundation in data quality and intelligence will help marketers as channels continue to expand and individuals expect more personalization.

To read more about this research study and review tips for improving data quality across your organizations, download the new Experian QAS white paper ‘Unlock the power of data’.

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