Email This
Hits: 3425
Today, most corporations are tightening the screws on their corporate cash coffers in attempts to conserve funds, yet still deliver stated revenue goals, businesses are turning to their existing customer base to generate incremental revenue. This is a logical step as the costs to cross-sell additional products and/or services to existing customers are far less expensive than to attract new ones. Obviously, this puts tremendous pressure on databases' accuracy.
As one-to-one relationship marketing becomes more the norm and less the exception, databases are expanding at exponential rates. In fact, corporate databases double in size roughly every six to nine months. The combination of these two factors alone should be sufficient stimulus for businesses to, cost effectively, get their databases in order. Why is it so improtant for businesses to realign the acuracy of their databases? The average business database has a staggering 15 to 40 percent bad data in it. That means roughly one in every four pieces of marketing material distributed is worthless.
Now how much do you believe that may be costing an organization in terms of lost revenue?
TrackBack URI for this entry
Subscribe to this comment's feed
Show/Hide comment form