Contact data quality statistics from Experian QAS
Inaccurate contact data can be harmful to an organization and may cost your company millions of dollars each year. Organizations that focus on contact data quality can increase efficiency while decreasing costs. Consider the statistics below:
- 94% of businesses feel their contact data is inaccurate in some way.
- 66% of organizations who have customer loyalty programs believed their programs were negatively affected in the last year due to inaccurate contact data.
- 42% of companies maintain accurate data to capitalize on market opportunities through customer profiling.
- Different names and addresses or multiple email addresses for the same person can easily corrupt anywhere from 5% to 25% of the records in a single database.
- Email is the most important marketing communication channel for 2013.
- 17% of Americans change addresses annually. 45 million people move each year which is approximately 1 in every 6 families.
- 66% of companies have targets for maintaining contact data accuracy.
- 87% of companies have invested something in data quality initiatives in the last 12 months.
- On average, companies spend $137K per year in data quality investments.
- On average 92% of retailers suspect their customer and prospect contact data might have inaccuracies.
- 99% of financial institutions manage the accuracy of their contact data in some way.
- 91% of institutions have invested something in data quality initiatives in the last 12 months.
- 91% of institutions suspect their customer and prospect data might have inaccuracies.
- Among those with data inaccuracy issues, the main reason identified as a root cause is human error (65%).
Succesful marketing programs must have accurate contact data across all communication channels to ensure succesful interactions with customers. What channels are most important?
- 34% of companies say that email is the most important piece of contact data for 2013.
- Email marketing now accounts for over 50% of marketing communications.
- 50% of organizations are capturing customer contact data through mobile applications.
Succesful marketing programs must have accurate contact data across all communication channels to ensure succesful interactions with customers. What channels are most important?
- 66% of companies have targets for maintaining contact data accuracy.
- 87% of companies have invested something in data quality initiatives in the last 12 months.
- On average, companies spend $137K per year in data quality investments.
- On average 92% of retailers suspect their customer and prospect contact data might have inaccuracies.
*Sources:
The Contact Data Evolution, Experian QAS 2012
Experian Marketing Services Digital Marketer 2012
Data quality and the customer experience, Experian QAS 2013