Data-driven initiatives are popping up in many marketing departments as senior leaders look to better understand and communicate with consumers. While many of the initiatives are important to achieving marketing objectives in the year ahead, most marketers forget to consider the base information required for these initiatives.
Data quality is the foundation for marketing efforts in 2014. In fact, 93 percent of organizations feel that data is essential to marketing success.
Without information that is accurate and fit for purpose, marketers are going to struggle to achieve goals such as cross-channel marketing, business intelligence or loyalty efforts.
In fact, many marketers are already struggling with these objectives. In a new Experian Data Quality study released today called The state of data quality, 1,200 individuals from six different countries weighed in on data accuracy levels and ways in which data is being used.
Unfortunately, the level of inaccurate data is very high. On average, U.S. organizations believe a quarter of their data is inaccurate, which is actually higher than other countries that were surveyed.
That level of inaccurate data is hurting a host of marketing practices. Some of the figures include:
- 84 percent of organizations are facing challenges related to cross-channel marketing
- 67 percent of companies experienced email deliverability issues in the last 12 months
- 74 percent of businesses has encountered problems with customer engagement and loyalty programs
Poor data quality is a leading cause of these challenges. Organizations that are not able to control the quality of the information in their database are unable to effectively communicate and engage with their customer base.
In the year ahead marketers need to look at prioritizing data quality and challenging other departments to become involved with improving information across the organization. Data needs to be accurate and accessible if marketers are to truly become data-driven.
To learn more download the new research report about the state of data quality.