Using bad data can result in a decrease in customer satisfaction and retention.
With privacy becoming increasingly important, companies need assurance in the quality and compliance of third-party data. All parties involved in collecting, storing and sharing customer information must agree on industry standards for data quality.
Having a standardised data certification measure can help marketers target potential buyers more effectively. Companies should also pay close attention to data quality and data efficacy. Data quality is generally judged based on accuracy, validity and consistency across platforms. While data quality is necessary for data efficacy, data efficacy is needed to deliver an appropriate customer experience.
To ensure the brand has good quality data, marketers should commit to data providers that have taken steps toward certification. It would further help companies maintain trust and transparency while improving marketing performance over time.
[3 minute read]