Data accuracy, and therefore quality, starts the minute you capture an enquiry. Read our top three reasons why it’s essential to success.
Data accuracy, and therefore quality, starts the minute you capture an enquiry. For example, if you only capture 80% of email addresses, you have already reduced your opportunity to keep in touch with prospects by 20% . And that’s before factoring in consent.
Without the ability to contact customers at key points of their purchase or ownership cycle, you will reduce the likelihood of repeat custom, as well as potential aftersales profits.
However, inaccurate data isn’t always a retailer’s fault. We know that customers are unlikely to let you know when they’ve sold their vehicle, meaning you are potentially building up a huge base of inactive and poor-quality data.
High-quality and accurate data means an increased opportunity for higher open rates and conversions. This will subsequently result in improved authority and trust scores with mail service providers.
By maximising your opportunities with marketing reach, you will be contacting the right people at the right time. For instance, if you’re operating a call centre, then your time (and resource) is far better spent calling those actually in market or due a service or MOT.
Based on a contact centre average cost of £3.60 per outbound call, and typically 2.5 attempts to reach each customer, our research shows that uncleansed data could be costing you, on average, £9 per incorrect record .
What’s more, by communicating accurate information with the right customer, you will help build trust and, therefore, loyalty.
Every email, SMS or phone call will take time and cost money. If your data is inaccurate, there will always be an element of waste. B y minimising wasted activity, you will be able to maximise your marketing ROI and ensure your budget is best placed.
After analysing a sample of UK automotive retailers, we have found that, on average, over 40% of ‘keeper details’ are inaccurate , with vehicles having either changed ownership ( 35.1 % ), been scrapped ( 4.6 % ) or stolen ( 0.5% ).
Marketing Delivery partners with top-tier data providers to offer a solution. An initial soft-search cross-references your DMS data with our trusted data sources to help understand the current quality of your database. This can be followed by a full data cleanse, producing a detailed report of inaccuracies that need updating.
Already our clients are improving efficiency by running regular audits with Marketing Delivery to keep on top of data quality.
One existing client with notable results includes Rossetts Commercials , a Mercedes-Benz commercial vehicle retailer, who credits Marketing Delivery’s automated process for saving their team around 1,050 hours , approximately seven months of work, when we identified 30% of their records were inaccurate. As members of the Keyloop Partner Programme , we feed any amendments directly back into Rossetts’ dealer management system (DMS).
A second is Sandown Group , who secured more than £135,000 of additional workshop revenues over a six-month period with a data cleanse followed by a personalised VoiceBox safety recall email campaign.
We are currently offering a FREE, no-obligation data audit to give you a better understanding of your current vehicle data quality. Contact us today for more information.
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