If retail and consumer goods companies’ customer and prospect data is not accurate and updated, even the best sales and marketing strategies and the most earnest customer relationship management efforts are doomed to failure.
Improved data quality yields competitive advantage. The company with the best data can get closer to customers; keep costs down; make faster, more confident decisions; execute better; and respond more quickly. It’s not one silver bullet that yields the advantage, but the combination of many factors.
With more than 35 years of experience, Acxiom has helped hundreds of retail and consumer goods companies improve the effectiveness of their sales and marketing programs. Life happens. Customer data changes continuously. Let Acxiom help you keep up.
Effective data is current, accurate and comprehensive; it provides a complete view of customers and is accessible in real time. It also becomes the foundation to creating critical predictive and descriptive insights. Why is effective data important?
Why is effective data so hard to build and maintain? People move, change telephone numbers or e-mail addresses, marry or divorce, have children and eventually die. Some use nicknames, middle names and first names interchangeably. Others make mistakes in completing information or falsify information. Meanwhile, applicable privacy laws are created or revised. With all of this change, the effectiveness and business value of customer and prospect data become questionable.
In 2000, Acxiom introduced AbiliTec, our proprietary linking technology, and introduced the category of customer data integration to the marketplace. Today, customer data integration initiatives designed to build a single view of the customer are included in most customer relationship management and master data management plans.
The single view helps companies communicate consistently with their customers by always accessing the same comprehensive customer information. It supports enterprise sharing of customer information and enables a more accurate understanding of customer wants – leading to more effective merchandising, privacy management, customer support and service.
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