How valid postal addresses support data-driven strategies

Companies today not only rely on data to analyse financial performance but also to acquire new customers, through advertising and marketing. The shift to digitization has become essential to post-pandemic recovery. Digital marketing requires data, where marketing campaigns can be expensive, poor quality of data can significantly reduce impact and hamper efficiency. Towards this, a recent study by Dun & Bradstreet found that 19% of businesses lost customers attributing to inaccurate or incomplete information.

Modern businesses today use a variety of ways to connect, build and maintain their strong customer base. As companies have changed with the times to reaching out to their customers via social media and digital presence, traditional methods such as postal addresses, telephone numbers still play a key role towards building customer relationships. However, personal data captured online or in-store, from multiple sources, can often be incorrect and error filled. In essence, customer information in its ‘raw’ form without intelligent processing could be inconsistent or incomplete with duplicates. While postal addresses are key to market relevant and bespoke services, more often than not, typically company’s data capture tools may not ensure consistency and accuracy. This issue with volume and data variety can have compounding effects, affecting business analytics and decision-making.

According to Experian’s 2021 Global Data Management Report, 72% of businesses say a better data insight could have helped improve the response to the pandemic. Therefore, the right tools and solutions can mitigate problems and can push forward companies towards smooth digital transformation and aid in the design of data-driven strategies.

Accurate postal addresses enable businesses to deliver an excellent customer experience

Dani Turner, Customer Experience Director of Bunches, a family-owned online florist and gift provider, mentions that since pandemic, more people celebrated special occasions at home. “We’ve helped maintain community at an incredibly stressful time for people. It’s really important to us that we’ve been able to create a little bit of happiness and enrich people’s lives” she says. Their business experienced challenges in managing the scale and operations as the demand for online ordering and postal delivery of flowers and gifts grew significantly. Experian helped Bunches to manage their growth with address validation solution. This ensured that all addresses captured in their website were accurate, complete, and formatted, which enabled Bunches to process more orders smoothly thereby increasing the accuracy of their customer deliveries.

“Experian’s address validation has made the checkout process on our website much quicker and significantly improved our delivery rates. This helps our operations run more smoothly.”

Dani Turner, Customer Experience Director of Bunches

Similarly, a FinTech company that recently partnered with Experian redesigned the mortgage experience by instantly processing all applications online maintaining higher data accuracy and compliance standards.

Incorporating an address validation solution into your business process will ensure that only accurate contact data of your customers and prospects are captured. This will help to streamline your business operations, drive growth and acquire long-term customers through personalised marketing.

The role of Experian’s data and services

Experian Address Validation solutions verify the accuracy and completeness of physical addresses and correct errors before they can negatively impact businesses. When the demand to acquire customers grows in other geographies, it is essential to maintain the same standards while capturing address data across the company. Our solution supports the validation of addresses for more than 240 countries, leveraging Experian’s wealth of datasets including cross-channel market segmentation and global geocode enrichment.

Our market-leading solution is designed to be intuitive, easy to use and can seamlessly integrate with many source systems, including CRM, ERP and E-Commerce applications. The user entry triggers to correct common errors such as spellings, abbreviations etc. before the address is committed into the system. Our solution ensures that the address collected is standard and actionable to plan your strategy. Analysing patterns on accurate address data benefits your business financial performance and customer service. So, why not gain your competitive advantage by leveraging data quality through Experian Address Validation now.