For CRM Marketers Who Obsess Over Customer Lifetime Value: Data and Platform Usage Matters Most
- The average consumer brand has 54% duplicate customer records, with some as high as 70% (Amperity)
- 30% of CRM data decays annually (Gartner)
– Almost 4 Million families have children annually
– About 1 in 9 Consumers move every year
– 1 in 3 people change email addresses every year
– 50 Million Phone Numbers change every year
- COVID-19 response sped up adoption of digital technologies by several years. From those surveyed over 50% say they are investing in technology for competitive advantages (McKinsey study)
WHY LINKING AND ENRICHING DATA IS IMPORTANT TO BRAND MARKETERS
As outlined in both the presentation and the key stats above, continually updating your CRM data is becoming ever more important given the time period we are in.
- Unduplicated records: Leads to lower marketing costs and higher ROI.
- Better Understand your Consumers: Having the right segments for effective personalization.
- Expand Outreach with Segmentation and Activation: Identity enrichment allows for you to reach someone on any channel regardless of what first party data you have.
- Create Value Added Solutions/Custom Models: Ingest identity and intelligence information to create new market-facing data or analytics solutions.
- Real-Time Scoring: Helps provide insights into which leads and lead sources are doing best and which are raising red flags.