Why Consumer Data Append Be Included in Your Marketing Strategy?
Nothing in business is set in stone. You can always improvise, change and redo any business practice. Innovation in database marketing has always been essential due to the speed at which markets are maturing. Big data and its associated analysis is the buzz word today and it is so for the simple reason that by 2020 the market is set to grow to over $18 Billion dollars worldwide.
If you are currently a part of the database marketing industry and have to work with a substantial amount of data, the quality of your records is of prime importance to you. Consumer data is vast, ever changing and aggressive in both positive and negative ways. Getting a tight grip on it requires you to master the art of database management and appending.
Consumer data append is the most popular method you can invest in. It specifies the way you can enhance and “understand” your customer. Knowledge is power, especially when you are marketing. It takes a substantial amount of information about a particular customer for you to reach and engage them.
Data Elements in Consumer Data Append
Consumer or B2C data appending is one of the most common and the most successful methods utilized today to improve the scope and reach of your records. Improving your data set is crucial if you need to extend its shelf life, understand target audiences better and get better ROI from campaigns.
Social media appending a subset of this process. To know more about how it will help you with targeted marketing, read our blog- Social Media Append: Smart Insights to Reach Your Targeted Audience
Here are some of the basic elements that should be present within your dataset so that you can run a successful consumer append process.
These are most essential elements of your dataset. If you have these available, it becomes easier to append and enrich your contacts. A large number of companies rely on these basic inputs while asking for customer information. Asking for too much has become an issue as prospects do not have the time or the need to key in what is more than required. So, to solve this conundrum, it is wise to go with the basic necessity and then append them for more information.
Some of the Many Extra Bits of Information You Can Gather From These Fields Are:
The amounts of information that can be extracted from these 4 categories are truly amazing. The list can reach a minimum of 15 aspects and can go to a much larger number. This is the power of database marketing.
The Top Reasons You Need To Invest In Consumer Data Appending
- It Isn’t A Cost– It’s an investment- As per costing goes, there are various practices that may or may not be a burden on your bottom line. Consumer data append falls into the category of beneficial processes. There will always be a significant increase in ROI when you invest in this process. This is because it not only improves data intelligence helping you improve marketing campaigns; it enhances your datasets and customer information. Understanding pricing models can be complicated. We have simplified it for you here- Dissecting Email Append Pricing Models. What is a Fair Cost?
- It Is a Crucial Part of Your Marketing Process– If you are a database marketer, appending needs to be a strong part of your full program. Since it has multiple benefits as per ROI and campaign metrics, it is important to consider and include it into your full year plan.
- Impact on Research– Most times, data has sufficient intelligence to provide you, but if you don’t know what you are looking for, you’ll never find it. Appending allows you to extract the data you need so that your research gets better.
- Long term– Consumer append shouldn’t be a one off thing if you are truly interested in database marketing. Since it makes your datasets robust, clean and updated, it should be a periodic affair.
- It Improves Targeting Significantly– This is one of the stellar aspects of the process. It improves and enhances the targeting aspects of your campaigns, decreasing wastage, which can have a cascading effect on your ROI and long term goals.
- Improves Quality of Leads– This is the best direct result from appending consumer records. As your targeting gets better, hot leads are generated which improve the chances of gaining better sales and repeat customers.
Competition has always been a constant in business. To overcome them and get to your target audience before they do, learning more about what they need is essential. These consumers are smart and they are looking for ways to solve their problems. You won’t be able to do that if you don’t know and understand what these problems are. Consumer appending is the best way to make major in-roads into the customer’s life and connect with them.
Customer Acquisition and Appending
Acquiring a customer today is a hard process. It takes months to generate and convince a lead sometimes, this is for B2B and for B2C; fierce competition is the reason for drops in sales. Even though the numbers are high in B2C, the chances of lead conversion are low, totaled with lower profit margins.
Here are the major ways in which consumer appending can assist in better customer acquisition. You can read a detailed description of the process in our blog- Why Data Enrichment is Actually All About Targeted Marketing?
- Engagement– The top benefit of running appending on your files is that it improves knowledge about your prospects. If you know and understand where they come from, what are their likes and dislikes and information such as income, family, occupation and such, you are in a comfortable position to strike up a conversation with them and more importantly- sustain it.
- Improve Overall Data Strength– Every single database marketer has the recurring nightmare of his data going bad, just like a baker dreams of bad bread. Appending is the one process that can actually make a difference here, other than the usual processes of data hygiene, better collection processes, storage and transfer and such others. Long term benefits of appending are multiple. They keep your sets updated which means that you contact the right prospect at the right time. It decreases the cost of acquisition and increases the savings you make on data maintenance.
- Segmentation– One direct result of appending is the ability to segment your contacts. This can be done only if you have sufficient information about them. Once you have received this information, you now have the power to move your contacts into segments and compartmentalize them based on parameters you have set. This increases response rates dramatically.
- Improves Content– Marketing collaterals should never be generic, least you want to be identified and a brand that speaks a lot, but doesn’t know who it is speaking to. When you have good information about the needs of your prospect, your content can become tailor made-something the new age prospect is dying to read.
- Customer Contact Points Increase– You will learn about various platforms your prospects are currently available on. This increases your chances of visibility hence improving chances of interactions and communication.
- Acquire the Right Customer– there are thousands of leads generated in hundreds of companies worldwide that are at the wrong place. Appending contacts gives you clarity about who is ideal and who isn’t. You don’t waste time chasing dead ends, the wrong contact or worse, no contact.
It All Comes Down To BIG DATA
Consumer/business append is a major part of big data. What is big data? Actionable responses you elicit from large amounts of seemingly unidentifiable datasets. When you append data, it clears out the waste, the useless and keeps only the best data for you. This data can then give you exceptionally interesting insights into what your prospects need. This is the very essence of big data.
Appending allows big data to work its magic. Terabytes of information are being collected on a daily basis today. If this data is bad, then data analysis is a costly mistake. You need to the right type of data to analyze it for the results you are looking for. All types of data can be classified as transactional or non- transactional. Non-transactional data gives you information about behavior and choices and is mostly extracted from social networks. Social media appending is crucial here and gives you a clearer picture of what you need to know, allowing you to run big data analytics on them.
Gaining customer insight is the number one requirement of a database professional. Combining the powers of big data and consumer data append allows them to dive deep into it. The more you know; the more power you have. Prospects have become extremely choosy about what they want, the brands they interact with and what they talk about. If you aren’t updated about these aspects, you will become just another brand that will keep sliding.
Extract the most amount of information you can possibly from your data by committing to data appending.