The sheer volume of data generated on a daily basis is at a level that is probably beyond most people’s comprehension. Back in 2011 the average person produced six newspapers worth of information a day, a year later and Facebook alone was collecting 500 terabytes of data on its members everyday. Roll forward to 2015 and 315 million people use the Web each day across Europe alone - imagine the data trail they must leave behind for hungry website analytical tools to collect. The use of the Web has become so ingrained in our lives that for some, it is hard to imagine having to solve a conundrum by reaching for an encyclopedia instead of asking Google.
In this generation of a ‘data deluge’ and the evolution of intuitive data analysis technology, marketers can now acquire vast amounts of customer data and use it to hone their campaigns down to a very personal and detailed level – which is great!
Sound too good to be true? Well it almost is because the data that is generated on such a gigantic scale is not necessarily accurate or true data – and therefore cannot be trusted wholeheartedly. So how do digital marketers in business-to-business companies enhance the data at their fingertips to identify true and accurate data in order to tailor marketing campaigns? Here are four tips of data enhancement:
1. Make sure your data is clean
Data cleansing is the automated process of correcting or removing poor quality or incorrect data from your existing customer database or mailing files. Using a database that consists of incomplete submissions or details that have been recorded incorrectly can result in critical information becoming out of date very quickly. To keep data clean and up to date, conduct regular reviews into the accuracy of a database to maintain its data integrity.
2. Enrich the data you’ve already got
Data enhancement is the process of adding extra data sets to customer records and is a process that can be run simultaneously with data cleansing. The result is a set of data that provides increased customer insight to help marketers with better customer profiling and understanding of customer behaviour.
3. Conduct a Data Quality Audit
Before starting out on a marketing campaign, what would be more useful than having a comprehensive analysis of your existing database to identify any inaccuracies and incomplete customer and prospect data? A Data Quality Audit will show results that could make your direct marketing far more cost effective. Matching data against The UK Business Universe® and UK Consumer Universe to verify key details such as postcodes, addresses, household income, household lifestyle and age, or business type, size and much more, will improve the accuracy and quality of any existing data. Any future marketing activities will benefit from this revitalised data, leading to improved campaign results.
4. Aggregation or Segmentation – which one is right for you?
Not all the data companies sell the same data. Data aggregation is combining many different lists together into one and removing any duplicates to give a fuller picture. The UK Business Universe, for example, aggregates eight different databases into one, allowing for more data to produce more analytics on databases, and for the results to be truer. The obvious drawback here is that data aggregation is more expensive than just using one list – but the data is far more accurate.
Data segmentation involves taking data and splitting it into different groups, using whatever criteria is important to you and your business. You can then be more efficient by targeting each segment differently. The drawback here is that you need the same data attributes/fields on every piece of data to segment them all. If your data is not complete then you cannot segment it all.
Choose the method that works best for your business, there are benefits and drawbacks in each method so B2B marketers need to understand their customer base and the best method to reach them.
To find out more about the data universe and data aggregation then please click here
In addition, to find out more about how we helped UBM EMEA achieve marketing efficiency and effectiveness gains through SCV data quality, please click here.