Data Cleansing News
W8Data confirmed as one of the "Experts" at the "Ask the Expert Forum"
W8Data are pleased to announce that we will providing a presentation and a series of one-to-one meetings providing advice and guidance on data cleansing and data issues at the “Ask the Expert Forum” on 3rd June 2010, Stratford Manor Hotel.
The idea of the forum is to be together experts from various fields to help people utilise their direct marketing channels more efficiently and effectively.
For more information please check either http://bit.ly/aUIbwA or http://www.catalog-biz.com/downloads/Ask_the_Expert_Flyer.pdf for more details. Or call 01489 796559
Manage your data correctly... or lose your customers!
Towards the end of 2009, a survey (carried out by Callcredit Information Group Marketing Solutions) revealed that 88% of UK consumers would change their attitude towards a company if they were mailed using incorrect data.
We have long championed the importance of ‘getting it right’ when addressing consumers with offers and this fresh survey certainly supports that view. In addition there are, of course, the environmental issues to consider with poorly addressed communications.
Other key findings from the survey include:
* 40% would never respond to any marketing communications if incorrect data was used
* 33% would lose confidence in the brand
* 15% would never buy from that brand again
There is also a very important issue identified by the research – and that is the fact that 55% would not contact the company to update or correct their data. The more affluent the individual, the less likely they are to do this, with 70% of those having a household income over £40,000 and 61% of homeowners saying they would not bother.
Some worrying trends are also emerging in terms of the types of consumers who would be ‘turned off’ by a company’s poor data maintenance programme.
* Females would be much more likely to change their perception of the brand than males
* Older audiences appear to be especially affected, with the over 45’s age group being 5% more unlikely to respond to a communication than those aged 18-44
To discuss any aspect of Direct Marketing or Data Cleansing, contact us. W8Data can help you decide how to get the most from your data.
Direct Mail industry is optimistic about the future
According to a recent ‘Direct Mail Attitudes Survey’ conducted by Marketing Week, (October 2009), direct mail is still regarded as a valuable business channel by the boards and senior management teams of organisations.
The research reveals that 56% of marketers believe that direct mail has influence with the top executives or board members at their companies. However, 30% of respondents believe that direct marketing is not taken seriously at the executive levels of their companies.
Direct marketing basics such as targeting and measurability are still viewed as pivotal to commercial success. As a marketer from a large retailer reports in the survey: “Direct mail still provides one of the highest returns on investment when carried out in a targeted and controlled way.”
And another marketer from the financial sector adds “DM is often overlooked as ‘expensive’. But in terms of offering measurability of campaign and marketing spend effectiveness, it is second to none as a channel for customer acquisition.”
Marketing optimism is still holding up well with just 5% stating that economic climate has had a “very bad” effect on the industry, while 7% think that it has not been
affected at all.
Other key findings from the survey include:
- * 45% of marketers use interactive direct marketing methods, with 33% using physical direct mail and 22% using both together.
- * 42% consider a 5–10% DM response rate to be acceptable to their business … 34% are satisfied with less than 5% … and 2% demand an over 30% response rate.
- * In practice, just 22% see a 5–10% response rate, while 52% of respondents see less than 5% response rate to their direct mail.
- * Most marketers (38%) use DM as a “call to action”, 24% use it for new offers or discounts and 16% use it for general brand building duties.
- * 61% believe that the Direct Marketing Association (DMA) should be in charge of regulating DM, 22% favour the Government, 9% think brands should self regulate and … 2% believe that Royal Mail should take on the role.
On the whole an interesting and encouraging survey which largely supports the medium of direct mail which can be so powerful in building relationships with consumers.
To discuss any aspect of Direct Marketing or Data Cleansing, contact us. W8Data can help you decide how to get the most from your data.
Business data 'absolutely crucial to success'
While the overall news agenda has been dominated by the effects of the economic downturn, reports in the marketing world have thrown business data back into the spotlight.
The Direct Marketing Association's recently launched environmental standard PAS 2020 calls on companies to ensure they maximise the efficiency of data by regular suppression and cleaning lists.
In addition, the announcement that a number of major firms, including Royal Mail and British Gas, have signed an Information Commissioner's Office pledge to ensure they handle client data responsibly has shown that the issue remains as important to the direct marketing industry as ever.
The Personal Information Promise calls on firms to make it clear to consumers that they are committed to safeguarding the information they have on them, and at the launch of the new pledge, the Information Commissioner Richard Thomas described data as "good for business".
It appears that this is a view shared by another industry expert, the Federation of European Direct and Interactive Marketing's (FEDMA's) marketing and membership manager Jorgen Nygaard Andreassen.
He has claimed that business data can be "absolutely crucial to the success of the campaign", adding that firms should remember the simple phrase that "the better the data, the better results".
The expert also suggested that the quality of lists can improve direct marketing by up to 80 per cent, depending on the product or service that a growing business is attempting to promote.
However, one of the major questions about business data is how and where should firms get their data from?
Two main options are available - as companies can either collect information themselves or approach a third-party source for help with the task - but Mr Nygaard Andreassen made no secret of which tactic he personally recommends.
"It is much more effective to buy or rent a list because then you get the added values included. To build a sustainable list takes a lot of time and money," he explained.
He said that companies need to be prepared to ask suppliers about the meaningful return on investment (MROI) they could get from buying such business data, adding that providers should be able to give them information about the list's impact on similar campaigns or response rates.
"[What is] important here is that the client is absolutely clear about what their target MROI is," he advised.
So while it remains to be seen whether business data will continue as a major talking point in the direct marketing industry, it appears that it will be key to the promotional efforts of growing businesses across the UK for a very long time.
To discuss any aspect of Direct Marketing or Data Cleansing, contact us. W8Data can help you decide how to get the most from your data.
Direct marketing holds the key to weathering economic uncertainty according to latest DMA study
Direct Marketing has bucked the downturn in advertising by contributing £50.5billion to the UK economy in 2007, a growth of 15.4% on the previous year according to the DMA’s Economic Impact of the Direct Marketing Industry 2008
The research, which has been compiled by the Future Foundation, also revealed that employment generated by the direct marketing industry in the UK grew by 14% since 2006 to represent 3.4% of total employment and 1,009,000 people. This compares with 636,000 employed in the restaurant trade and 370,000 in market research and consultancy services. Expenditure on DM budgets has also reported a healthy 9.8% growth since 2006.
Consumer sales generated by DM now represent just over 9% of total UK consumer spend and are estimated to be worth £764 billion annually.
Victoria Bytel, Head of Membership & Research at the DMA, commented: “Direct marketing is a sophisticated way of communicating with customers; its targeted and timely approach means that businesses can promote the latest offers and deals in the most effective way to their key target audience. This gives businesses a high return on investment and consumers the best deals - particularly desirable in times of economic uncertainty.”
While DM has not always been considered the ‘sexiest’ form of advertising its strength lies in its return on investment, because it is an accountable medium which is designed to track and measure, thus enabling businesses to plan and invest wisely. As a result of this, even when the economy begins to slow,direct marketing continues to hold its own.
To discuss any aspect of Direct Marketing or Data Cleansing, contact us. W8Data can help you decide how to get the most from your data.