Bad data is a waste of money.
“When you do not validate customer information, you lose the opportunity to build a relationship past the first customer engagement,” says Edward Hunter, lead data engineer at Clutch. “But, I’m constantly amazed at the number of companies that do not validate customer information.”
To gain better information from your customers, create incentives based on what customers want and need. Use high-motivation incentives to build a data capture strategy focused on unique identifiers. Cellphone numbers make excellent ones, and create opportunities for real-time verification.
Consumers have become adept at routinely entering false information when signing up for rewards cards or discounts. As a reliable data collection strategy, using email registration or text messages to validate customer information retailers can gain authentic information immediately and then build out other data fields associated with the incentive offer.
Marketers can continue to build out profiles for customers by developing routines that gradually merge new fields of data around proven identifier and the initial profile. From there, marketers can look to establish deeper forms of engagement with the customer leading to stronger brand relationships and even more reliable data.
Cash-Incentive Rewards Create Motivation Needed for Reliable Data
A cash-incentive program such as Encore Incentive’s RewardsCardPlus offers the permission-based transparency, simplicity, and immediacy that today’s customers are seeking. In addition, cash incentives have proven to be the highest motivator for positively influencing customer behavior and increasing brand loyalty.
Source: Edward Hunter, DMN, “Is Poor Data Quality Derailing Your Campaign’s Results?”