Just a few decades ago the concept of a “channel” didn’t exist, other than on your television. If a customer or prospect wanted to contact you, they called you or wrote you a letter. And if you wanted to contact them, you got out your Rolodex – or if you were a large enterprise, perhaps your batch mainframe computer, with disk drives the size of a washing machine.
Today, sales, marketing and customer support take place across multiple touch points that include point of sale, online orders, emails, social media inquiries – and even those same traditional phone calls and letters. Increasingly, this contact data is managed by integrated enterprise systems rather than separate vertical applications. Which also means that all of your sales and support channels often serve as pipelines to a common contact database.
Over the past five years, we have been in the midst of an omnichannel revolution in enterprise solutions. The reason is simple economics – particularly the growth of inexpensive, scalable, cloud-based software-as-a-service (SaaS) applications. Once upon a time, enterprise software seemingly required months of planning and a cast of thousands to implement. Today, even the smallest operation can license applications that integrate ALL of their customer touch points on an inexpensive per-seat basis.
The era of integrated, multi-channel applications also means that the impact of bad contact data is now greatly amplified. Here are some examples:
- Many customer touch points are notorious for providing incomplete or incorrect contact information. This can range from the person who enters “Mickey Mouse” or a fake address to get free marketing incentives, all the way to customer support tickets with missing contact data.
- An estimated 25% of marketing contact data is bad – and in an enterprise solutions environment, this bad data propagates across all of your sales and marketing activities, wasting time and resources.
- Telephone numbers change constantly, and your next telemarketing campaign could find you inadvertently – and illegally – calling consumer cell phones in violation of the Telephone Consumer Protection Act (TCPA), exposing you to potential fines of up to $1500 per violation.
- Data entry mistakes in order processing can lead to lost shipments, wasted time and human intervention, and customer dissatisfaction.
- Identity fraud cost businesses over $18 billion in losses in 2014, and much of it could be avoided by matching IP address locations to customer orders – so, for example, your system can red-flag a big-ticket domestic order originating from an overseas computer.
The solution to issues like these is to build data quality right in to your enterprise contact data, with a little help from Service Objects. Our tools can validate, append and update addresses using continually verified data from the USPS or Canada Post. We can geocode and analyze your order data for fraud verification, tax compliance and more. We can do real-time phone number verification to help you maintain TCPA compliance. More strategically, we can do lead scoring and enhancement to turn your contact data into a revenue-generating engine. Using API and batch processing interfaces, these tools and more provide a seamless way to put your contact data quality on autopilot.
The omnichannel era is here to stay – and in the process, contact data has become a strategic asset for companies of any size. We can help you leverage the power of this asset, by making sure this data is genuine, accurate, and up-to-date. And with the right partner, you can let data quality drive a tangible difference in revenue across all of your channels.