According to a Harvard Business Review article, “knowledge workers waste up to 50% of time (1) hunting for data, (2) identifying and correcting errors, and (3) seeking confirmatory sources for data they do not trust.” By not having a data quality system in place, your organization may lose donors or customers or fail to acquire new prospects, which hurts the bottom line. Here's an example:
Imagine how many more donations or sales your business could have generated, or how much of your marketing budget could have been saved if you had access to accurate information about your donors, customers, and prospects. Imagine if you could generate 140% more responses from renewal campaigns and a 6% response rate on a cold acquisition campaign, all at 50% of your current cost of marketing. This is all possible with the right data quality system in place - and more affordably than you think. These are the results Arjuna Solutions achieved for one of our customers through our patent-protected software, Persanalytix. To learn more about how we did that, click here for the full case study.
As marketers, we can save both time and resources by sending the right material to the right people based on accurate predictions about our customers. We cannot afford to miss opportunities by failing to ensure our information is accurate and our data is reliable. In fact, according to McKinsey, marketers can increase their bottom line by up to $200 billion by analyzing customer data and maintaining a high standard of data integrity. Don't allow dirty data to be the reason why you lose donors and customers.