Improve Repeat Customer Percentages with Address Verification
No matter what industry you're marketing in, you have your bosses breathing down your neck and going after you for more leads, more conversions and higher sales numbers. Econsultancy reports repeat customers spend three times as much on a business as first time buyers in the e-commerce sector. If there was technology that would significantly increase the likelihood of you attracting that type of golden goose, wouldn't you do it in a heartbeat? Address verification software provides several benefits that are invaluable to a marketer trying to keep in touch with previous customers and improve their chances of buying again. Here's how.
Single Customer View
In a world where a marketer has to keep track of Facebook profiles, email addresses, home and work mailing addresses, and a half dozen additional ways to connect with a customer, a single customer view is essential to keeping the signal-to-noise ratio at an appropriate level. When you have a customer in your database multiple times, there is a distinct possibility you're going to end up accidentally sending them too many marketing packets. If this happens consistently, or you use a form of the customer's address that gets processed more slowly than others, you're going to lose the customer to another company. A single customer view also allows you to personalize your marketing materials to their name and distinct interests.
Reducing Customer Acquisition Costs
It's simply more expensive to acquire new customers, no matter what marketing channel you're using. LinkedIn reports it can cost up to seven times more to get a new customer, compared to a repeat customer sale. When you need to cut down on costs for your marketing budget, focus your marketing campaigns around keeping the customers you have.
Special coupons, sales and loyalty reward programs are all ways to entice your customer to stay with you. However, you need to keep them happy through prompt shipping and great customer service. When you use address verification solutions from QAS or other vendors, you can incorporate the USPS-approved version of their mailing address. This address is the one that's going to get to them the quickest, cutting down on customers who don't receive their orders or end up getting them very late. Address verification also helps your customer service representatives keep all of their records straight for each customer when they call in for help.
Data Quality Corruption
According to QAS, up to 25 percent of your customer database has corrupted data due to address issues. That's a full fourth of your contact database, and if you let it go, it's going to lower the data quality further. When an address verification software checks your records, it confirms various fields to make sure it has the most accurate records possible. This includes matching up the ZIP code with the correct town, adding in the +4 of the zip code, and formatting the entire address into a standard format. Once you have all of that put together, it's much easier to keep your entire database standardized for future endeavors.
Has address verification benefited your business? Tell us how in the comments.
About the Author
Devon is a dad and animal lover who writes about business trends in the mobile world.