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Are Your Customer Data Practices Above Average?

January 4, 2010

A recent Aberdeen research article Data Driven Marketing (October 2009) indicated that Best in Class companies have a 2X performance differential in Return on Marketing Investment (ROMI) and a 5X performance differential in current revenue growth over Average companies.

 The research also disclosed the percent of Average companies that have a:

  • Process to identify high value customers                                                   31%
  • Process to validate the quality of customer data                                     34%
  • Customer data centralized into one data base                                          33%
  • Defined process to improve quality of customer data                          30%
  • Have established data hygiene processes                                                   30%
  • Utilize marketing dashboards                                                                          31%
  • Utilize reporting and Analytics                                                                       47%
  • Measure campaign performance                                                                    36%

 The number one challenge identified in the research is data quality.  Inconsistent and incomplete customer data result from the lack of a process for collection, hygiene, storage and enhancement.  If the data cannot be trusted then the insights derived from the data cannot be trusted.

The bottom line is that data is meaningless without analysis and context.  As a result, process becomes a critical component in an organizations ability to develop useful insights and information from customer data.

How does your company’s data practices compare?  If you would like to know more about how Data Driven Marketing can help your organization increase revenue and ROI download our White Paper Integrating Analytics into the Customer Experience at http://www.vuelogic.com/resources.html

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