Transactis

Here are the key findings from our Data Wastage Report 2011:

•  Many companies have huge information resources to hand, gathered in the course of their day-to-day operations by different arms of the business, that they fail to make use of in their marketing and customer management activities – this is what we have termed “data wastage”

•  Failure to use the full range of data to inform customer communications can lead to poorly targeted and ineffective marketing messages that can alienate consumers and ultimately cost the firm business

•  Data wastage can have dire consequences on a firm’s bottom line

•  Nearly 80% of the 2,000 UK consumers questioned said they are very likely to shift their business to a competitor if a company they have already given personal information to keeps sending them irrelevant offers and communications

•  The older the customer, the more likely they are to take this hard line and move their business to a rival firm if a company is failing to take note of the details they have previously provided and keeps contacting them with poorly targeted messages

•  86% of consumers say they would withdraw permission for a company to even contact them in future if it continues to send them irrelevant communications and offers after they have given that company information on themselves

•  88% of consumers would simply refuse to hand over further details on themselves if a company they have already trusted with personal information keeps sending them communications and offers that they find to be of little use or interest to them personally

•  81% of the consumers surveyed say they seriously question the competence of a firm that asks for their details, either through a print form or online, when they know that company already has this data

•  Data wastage is usually the result of a company failing to build a single customer view that pulls together data held by different parts of the organisation, or lacks the IT infrastructure to do this, or the data management expertise to create a functional central database

•  Eliminating data wastage would enhance marketing effectiveness, build stronger customer relationships, save money and boost return on marketing and customer relationship investment

•  Creating a single customer view is an essential step towards avoiding data wastage and creating a platform for better targeting, more efficient marketing communications and improved capabilities for a myriad of other activities critical to business success

•  While turning data into a unified, manageable asset can be extremely challenging for a company, a specialist partner with the right technology and experience can make the process achievable

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