The Dirt on Data – How Bad Data is Killing Your Marketing Campaigns
Dirty data is a worldwide epidemic, and in the U.S. alone, it is costing businesses over $600 BILLION a year. So, if you thought that your company is the only one with data integrity issues – you are very wrong. In fact, the problem is so widespread that having clean data can actually give you a big competitive advantage. Find out more about “How Dirty Data Can Destroy an Integration” and “Why Dirty Data is Costing you a Ton of Money” and learn how you can leverage your data to get a leg up on the competition.
Now, let’s talk about how corrosive dirty data can be, and what a good data cleanse can do for your marketing campaigns.
The Impact of Dirty Data on Campaigns
We all know that dirty data can affect our marketing campaigns. But, do we know to what extent? It is easy to underestimate the negative impact that dirty data can have on marketing campaigns, but the fact is, dirty data touches nearly all aspects of your marketing efforts. Here are some examples:
Metrics – Dirty data impacts every aspect of tactical campaign performance metrics, including: Sender scores, campaign response rates, email deliverability, click through rates, bounce rates – and that’s only for email marketing. Think about your other channels on top of that.
Segmentation – With bad data, it can be difficult to segment your list correctly and you may end up targeting the wrong audience. This in turn will prevent you from sending the most relevant content to your leads, which can ultimately lead to a higher opt-out rate.
Personalization – This is an integral part of marketing success. This helps marketers connect with their leads on a personal level and instill trust in them. Getting this wrong can also have the opposite effect and turn them off from your company. If you send an email to Henry, but it is addressed to “Dear Tom”, you have dirty data. That is a simple, maybe even silly example, but it happens. Think about all the ways you use personalization, and how dirty data could impact it.
Sales Success – If your marketing platform sends leads to sales, they then use that bad data to connect with their prospects! This can lead to some embarrassing interactions. It could also limit their visibility to good prospects; depending on your CRM sync options. This can be a big point of contention between sales and marketing and can be damaging to the relationship between the groups.
To tie it all together – If you can’t segment correctly, it will affect your personalization. This will lead to less than satisfactory metrics, unreliable reporting and inaccurate lead scoring. Ultimately, you will have fewer prospects going to sales, and overall funnel failure.
The Solution – Data Cleansing
What is Data Cleansing? At a high level, data cleansing is the process of removing any duplicate data, incorrect or improperly formatted data, or incomplete data, so you’re left with only the most relevant, high-quality data available. By ensuring your data collections are routinely cleansed of useless datasets, you can simplify data analysis and build more effective marketing campaigns.
Data cleansing is essential for any marketing program to function optimally, and it needs to be done NOW! Just to be clear; cleaning data can be hard work and needs to be maintained. But, as we said earlier, the result will be a huge competitive advantage and can have an immediate effect on revenue, customer engagement, branding, and lead generation. On the flip side, if nothing is done, data organically deteriorates over time, and the problem will continue to get worse. If the problem is not addressed it will cost your company more than just one bad campaign.
To find out how 4ThoughMarketing can help you set up a Data Washing Machine for your Oracle Eloqua Marketing Cloud, call us at 1-888-ELOQUA4 (888-356-7824) or email info@4ThoughtMarketing.com.