Direct Marketing Success Begins with a Good Data Provider - Part 1
Posted on Fri, Aug 06, 2010 @ 09:46 AM
Sixty percent of the success of any direct marketing campaign can be attributed to the quality, accuracy and "targetability" of the list that is selected. Believe it or not, there is a broad array of factors that can influence a data provider's ability to deliver on all three counts. So many, in fact, that this topic will be addressed in three separate posts. By the end of the series, you will have a comprehensive understanding of how to evaluate and choose a data partner that can deliver the lists that will maximize your direct marketing ROI.
Factor #1: Data Aggregation/Sourcing Strategy
The key here is understanding the importance of multi-sourced data. Data providers who source their data exclusively from a single source run the risk of providing marketers with:
- Less than all of the available data - which translates into missed opportunities.
- Less than the most accurate data available - which translates into a less-than-optimal ROI.
While a single-sourced data provider can provide a "good" list, I think most marketers are looking for the "best possible" list...especially in a marketplace where ROI is becoming increasingly more important.
Tranzact Information Services takes a multi-step approach to sourcing data. First, we begin by consolidating data from both leading national compilers and premier regional suppliers. Then we use a methodical approach and proprietary business logic to compare and contrast similar attributes to ensure we are leveraging each compiler's strengths for both accuracy and coverage. The result is a highly accurate and comprehensive database of 215 million consumers that can be endlessly segmented using hundreds of attributes to meet the widest array of direct marketing needs and objectives.
From a financial services perspective, the most important part of our multi-sourced data strategy is our consolidation of prescreen credit information from all three bureaus into a single data access and delivery platform, Intelidata Express. This tri-bureau capability provides financial services marketers with a number of competitive advantages (see blog post titled: "The Trifecta of a Tri-Bureau Prescreen Marketing Solution").
Factor #2: Data Hygiene Practices
Yes, data hygiene is important (regardless of how silly it sounds), as it plays an instrumental role in ensuring marketers have access to the most current and "compliant" data. Tranzact Information Services conducts National Change of Address (NCOA) scrubs monthly and Do Not Call (DNC) scrubs daily, ensuring the delivery of the cleanest data in town.
If you want a sneak peek into the additional factors that contribute to a data provider's ability to deliver the best list, feel free to contact one of our experienced marketing professionals at 1-888-707-7600! Stay tuned for Part 2 tomorrow!