DATA NEWS: B2B marketers must take more âstringent attitudeâ to data quality warns Experian
quality must be
taken more seriously Experian has warned that B2B marketers must adopt a more "stringent attitude" to maintaining data quality, or else drive increasing numbers of businesses to sign up for the corporate telephone and fax preference services.
Its head of B2B marketing, Nick Frazer, predicts that unless businesses take a more serious approach to maintaining data quality, more companies will join the three million that have already signed up for the Corporate Telephone Preference Service (CTPS) and Fax Preference Service (FPS) lists.
"Far from being solely an issue for the B2C market, the quality and accuracy of data and how it is used is increasingly becoming a driver in a business's desire and willingness to interact with other businesses," he says. "Since its inception, almost 1.2 million UK companies have signed up for the CTPS, whilst the FPS lists almost two million, predominantly business, numbers. The number of companies signing up for such services will continue to increase unless businesses adopt a more stringent attitude to maintaining data quality and make sure that first, and every other, contact they have with a business makes a good impression."
The data giant has just launched a âdata healthcheck' service for B2B marketers, offering to compare an organisation's data records against its own for accuracy. Experian says its health check programme can also identify what percentage of a database's records are likely to go bust within twelve months. In 2007, more than 18,000 UK companies filed for bankruptcy.
The health check also matches data against the Postcode Address File (PAF), the telephone file and the National Business Database (NBD) and looks at payment performance trends and the number of county court judgments registered against a business over the past twelve months.
"The data healthcheck programme recognises the importance of data quality and integrity and its impact on customer acquisition, retention and management. There is simply no reason why data quality, or a lack of it, should be an excuse for a marketing campaign failing to have the impact anticipated," says Frazer.
According to the latest QAS global contact data management report, UK businesses lose 17 per cent of revenue due to poor data quality.
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