Revenue-driving benefits of clean address data
Every business executive knows that good data is critical. When you’re developing your sales strategy and talking about how to increase revenue, you probably turn to data to answer questions like these:
- What areas of growth can we exploit?
- Which products are performing well?
- Is mobile or desktop driving more sales? Where is traffic increasing?
- How do we identify the “low-hanging fruit” customers?
- Where can we reduce costs?
But how do you know if your data is accurate? What steps do you need to take to ensure your data is actionable and driving revenue?
In our free ebook, 4 Steps to Unlocking Latent Revenue and Driving ROI with Your Address Data?, we show you how to get clean address data, and then how to use that address data to unlock latent revenue and drive ROI.
First, we outline four address validation factors that are crucial to outputting clean address data:
And then we show you how the resulting clean address data can benefit different departments within your organization.
In this article, we’re going to take a look at those different departments and how clean address data unlocks revenue and ROI for each one.
1. Shipping
Shipping speed and accuracy can make or break a company in the retail space. If the USPS can’t find the recipient’s address and fails to accurately deliver your product, you’re either out the cost or might have to pay a return fee.
Using an address validation provider that normalizes and validates addresses, including secondary address data like unit numbers, ensures your shipping runs smoothly.
2. eCommerce
According to Tidio, there are over 2.14 billion online shoppers in the world, and that number is steadily growing. Providing a fast and easy online checkout experience can greatly increase your revenue.
The easiest way to speed up address entry, reduce typos and checkout friction is by integrating an address validation and address autocomplete API into your online checkout.
3. Outside sales and technicians
“Time is money” has never been truer! The faster your installers, technicians, or sales reps get to appointments, the more they’ll complete per day.
Relying on clean addresses with accurate apartment numbers helps your team decrease time and expenses related to missed appointments, irate customers, or rerouting after getting lost.
4. Marketing
Mailing to a clean list will get more mail in the hands of your intended recipients while reducing waste. Cleansing your address database might even reveal that you’ve been wasting money sending promotions to what you thought were multiple different addresses, but weren’t!
Clean address data can also help your organization qualify for bulk mail discounts.
5. Reputation management
From Google reviews to Yelp listings to the different review and comparison websites that exist today, it’s easy for potential customers to see what other people think of your business.
Misdelivered packages, late technicians, and lost or delayed mail can all result in 1-star reviews that turn away future customers. Validate your address data and watch those 5-star reviews roll in!
6. Customer service
Using validation anywhere you collect address data leads to fewer address-related errors, such as lost, delayed, and returned deliveries. Fewer address errors mean fewer furious customers calling in. Fewer furious customers means fewer reparations needed to appease those customers. It’s a win-win-win.
Use address validation paired with autocomplete to shorten phone calls and improve address accuracy.
7. Strategic planning
Precise location data pays dividends in strategic planning. If 20% of your address data is inaccurate, any assessments or planning based on that data will be inaccurate too. Database cleansing and merging can help get you the accurate data you need.
Summary: How clean address data unlocks revenue and drives ROI by department
Shipping
- Cuts shipping expenses related to misdeliveries, delays, damaged goods, reshipments, lost and returned mail, and address correction fees.
eCommerce
- Increases eCommerce conversion rates and reduces expenses related to address errors.
Outside sales & technicians
- Improves routing efficiency, logging more appointments, and wasting less time between appointments.
Marketing
- Gets bulk mail discounts, improves delivery saturation, prevents duplicate mailing, and reduces returned, misdelivered, and lost mail.
Reputation management
- Helps you keep your shipping and appointment promises. Keeping those promises makes happier customers, fewer cancellations, better retention, more 5-star reviews, repeat buyers, and positive referrals.
Customer service
- Reduces time spent collecting customer information and cutting time spent on calls with shipping errors, address confirmation, and fixing bad address data.
Strategic planning
- Helps you get more accurate customer demographic and geographic information that aids location planning, ad placement, and identifying new lookalike demographics.
Want to know more about how to increase revenue with accurate address data? Download our free ebook, 4 Steps to Unlocking Latent Revenue and Driving ROI with Your Address Data.
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