The devil is in the detail for businesses trying to attract, engage and retain their customers in today’s competitive environment. Smart retailers understand the importance of accurate customer address data from both an operational and a profitability perspective.
Many retail businesses operate over multiple channels that include both physical locations and online platforms like e-commerce websites and social media. While this approach has many benefits in terms of reach; engagement and flexibility; managing the data generated across different platforms can be a challenge.
Operating across multiple channels can mean crucial customer data resides across disparate systems, each with varying levels of accuracy. Consolidating accuracy-verified customer data into one central system will help you avoid the profit-draining problems of lost, misdirected and late deliveries; customer service headaches and re-delivery costs.
The best way to ensure accurate customer address data is by using software that automatically cross-checks and validates every address using acknowledged external data sources. Unfortunately, Google may not be the answer. A best in breed SaaS service like Mastersoft’s Harmony Hosted is easy to use and cost effective.
Harmony Hosted not only validates addresses by cross-checking them against multiple sources, but it also makes it easier for customers to place orders quickly using a “type ahead” approach – after a few characters are entered, completion suggestions are offered. This service delivers consistently formatted addresses that comply with postal service standards and guarantees your shipments will reach their destination.
Clearly, by improving the quality of your address data you can offer a better level of service to your customers and reduce unnecessary costs. What’s often less obvious are the significant marketing benefits that accurate, up to date customer records can bring your retail business.
- More effective communication with customers. If marketing messages are sent to the wrong email address, you’ve not only wasted time and resources, but you’ve missed an opportunity to stay connected to your customers.
- Better brand image and reputation. Accurate customer data means fewer lost shipments, faster delivery and less risk of poor customer service that can damage your reputation. Having address validation in place at the point of sale makes the customer journey easier and improves the general perception of your business in the eyes of your customers.
- Less wastage. When goods are sent to the wrong address the cost to your business can really add up, not to mention the impact on your customer satisfaction. When you factor in handling time, additional postage costs and potential repackaging costs you can be significantly out of pocket – money which could be better spent on other areas of your business – like promotional marketing.
- Improved campaign targeting. More accurate location data means you can target your marketing messages more accurately to each individual customer or groups of customers with similar buying behaviours.
The Benefits of Building a Single Customer Record
Over the last few years, consumers have come to expect personalised marketing that is tailored to their individual lifestyle; purchasing history; demographics and location. Retailers may collect this information across different channels but if it’s not consolidated into a single system or customer record, much of it is likely to go to waste.
Creating a single customer record (often referred to as a ‘golden record’ or ‘single source of truth’) often entails bringing together customer demographic data from multiple external sources and assimilating it with internally held data like purchasing history and loyalty status. Getting this right provides a complete detailed picture of each individual customer that you can use as the foundation for intelligence-based marketing campaigns.
Mastersoft helps retailers create and maintain ‘golden customer records’ both through its customer-facing address validation and back-end batch address validation and customer matching services. By ensuring your customer data is accurate and accessible you’ll not only improve your operational capabilities, but you’ll also be able to market more effectively and better meet your customers’ expectations across multiple channels.
Best of all, with our subscription-based model you only pay for the number of validated address transactions you use. We also offer easy credit card payment options.
- Pay only for validated address transactions with our scalable fees
- Right now Power Retail readers save 50% on fees for a limited time. This means the service is available for as little as $6.25 per month
- Try before you buy with a one-month free trial
Our Power Retail special offer ends October 31, 2018, so don’t miss out!