3 Ways to Prevent Data Decay
Customer data in the Digital Age is extremely valuable. We are seeing companies harness data to personalize and improve the customer experience more and more as marketing technologies advance. There are plenty of platforms out there that help organizations gather and store their customer data but keeping that data up-to-date is where many CRM systems fall behind. Customer data decays at a rapid rate of 30% per year. Rotten data does not give you an accurate view of your customers and can have a negative impact on your entire business. This decay is not a result of customers purposely withholding their information, in fact studies show that the majority of customers are more than willing to share their data for personalized, efficient experiences. So, how can you ensure that your data stays as fresh as possible?
1. Engage your audience frequently
Frequent communication with your members or subscribers is crucial for keeping them engaged. Recurring (but not repetitive) communications will maximize your chances of reaching your audience. When your communications are meaningful and frequent, your customers are more likely to engage on a deeper level. The more engaged they are, the less likely they are to drop off the map.
2. Personalize your communications
Customers crave personalization and 74% of marketers say targeted personalization increases customer engagement. Gather the data from your continuous and relevant communications and use it to better personalize future marketing efforts and increase open and click rates.
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3. Automate with AI
Implementing processes to execute on the above can take tons of time and effort if done manually. Luckily, you can use AI to automate the frequency, personalization, and management of your messages. AI can gather your customer data in real time so that every future communication for that individual can be curated to their interests during that particular time. Integrating your AI tool with your CRM will keep your customer information as fresh as possible and prevent the negative impact of data decay.