Email marketing and Data quality
How companies, publishers and affiliate can benefit from using or collecting high quality data instead of random data
Data quality and data quality tools are the key to cost reduction and revenue increase. Especially in the digital marketing industry this tools and concepts are gaining more and more popularity. Email marketing creates one of the highest return on investment (ROI) among all online marketing channels. Although, some researches show that between 30% and 50% of companies do not determine their email marketing ROI.
A survey data from the Direct Marketing Association (DMA) shows that more than 30% of companies are unable to calculate their revenue earned from email marketing.
Why Can Email Campaigns Underperform?
Often email campaigns underperform. It might be for a number of reasons including too many low quality addresses or inactive subscribers. The content of a campaign is also very important. Each campaign should be designed for a specific and unique market or segment. The consequences can include missing the point on relevance or failing to take advantage of methods such as triggered email, mobile marketing, social media integration, big data mining and cross-channel marketing.
As stated before, data quality is crucial. Knowing your database and having fresh and reliable data is key to an efficient and profitable marketing project.
If your data is poor or degraded, you risk undermining your deliverability and reputation, which eventually will affect your marketing success and bottom line. Return Path surveys have proved that sender reputation was the cause more than 70% of email delivery problems.
Excellent Data Hygiene and Data Appending Can Help
The success of the best email marketing performers is most likely ascribable to their attention about the quality of the email address they collect before adding them to their database. (Silver Pop)
Similarly, Aberdeen Group has reported that fixing problems from “inconsistent or inadequate” customer data is crucial to online marketing success. The importance of data hygiene and appending have risen along with the use of triggered email. As Epsilon’s latest Email Trends and Benchmarks research highlights, campaigns using triggered emails have 70% higher open rates and up to 100% higher click rates compared to Business As Usual (BAU) messages.
Marketeers that use high-quality data driven decisions are the most successful. In fact, data-driven companies are more likely to have a competitive advantage and are more likely to increase profitability year over year, as stated by Forbes.
However, if you are targeting the wrong prospects and your messaging is off the mark, your results will suffer. Again, data appending can help solve these problems by supplying the missing data to profile and target more effectively.
In conclusion, we can safely state that bad prospect data might cost companies millions and time which could be invested in making more money.