July 15, 2024

Data Management: What is Data Acquisition?

What is Data Acquisition

What is Data Management?What is Data Acquisition

Data management is the process of collecting, keeping and using gathered data. Data management helps organisations make decisions and take actions based on the collected data. A robust data management strategy is more important than ever and creating a suitable message with clean and targeted data will boost the return on your marketing spend.

What is Data Acquisition?

Data acquisition is the process of obtaining data so it can be analysed, stored and used to strengthen your sales and marketing campaigns. You need appropriate data for your consumer mailing lists for your next campaign. If your target market is new to you, then you may not have the appropriate data. Verified and appropriate consumer or business mailing lists for your campaign is vital; especially for a different market segment for a new offer or product.

Benefits of Being a Data-driven Business

Being data-driven in today’s world isn’t optional; it’s required. Data has become even more critical to business success, and many companies have already learned how important it is. For businesses that fully commit to being data-driven, there are significant payoffs that can make the difference between surviving and thriving.

Mailing Preference Service (MPS)

All acquired data on a consumer mailing list must be guaranteed and verified with the Mailing Preference Service (MPS). The MPS Consumer File is a list of names and addresses of consumers who want to limit the amount of direct mail they receive. The use of the Consumer File by data owners and list users is required by the British Code of Advertising, Sales Promotion and Direct Marketing departments which are administered by the Advertising Standards Authority. Additionally, it is also a condition under the Code of Practice of the Data & Marketing Association.

Tailored and Cost-effective Solutions for Consumer Mailing Lists

Marketing campaigns, B2C and B2B communications and consumer sales leads are improved with appropriate consumer data. High-quality information leads to remarkable results.

With high-calibre data acquisition, you will add measurable value to your marketing and increase your return on investment (ROI). Whichever methods your business already uses for direct marketing and lead generation, tailored and cost-effective mailing lists will save you unnecessary research time and allow you to target the most appropriate people for your services.

Clean, Compliant and Consistent Data Acquisition Will Help Your Business Grow

Understanding your business, your strategy and your core objectives will help to achieve a relevant mailing list.

Data should be refreshed every three months so that it can be guaranteed to always be relevant, up-to-date and compliant. Consumer data deteriorates quickly, so if you fail to maintain it, much of it could be useless or even harmful. However, bad data is not just harmful from a legal point of view; out of date data, leads will be harder to track by your sales team and customers. Consumers will be less likely to engage as they might not receive what you’ve been sending them. Time is wasted on inaccurate leads due to your data being incorrect and we all know that ‘time is money’. Clean, quality data will give your marketing and sales team the resources to see better lead results.

Duplicate Records can be as Damaging as harmful Data

Duplicate data also has a negative impact in many ways and can significantly impair the view of your customers:

  • Wasted costs and lost income: wasted costs of duplicated catalogues with associated postage costs
  • Missed sales opportunities: duplicate records can be costly in terms of missed sales opportunities
  • Lack of single customer view: tricky to evaluate which marketing strategy has been successful if the same customer is in the database more than once
  • Negative impact on brand: three versions of your marketing materials to Stuart Jones, Stewart Jones and Stu Jones would mean you wouldn’t be considered as a competent and professional business
  • Inefficiency and lack of productivity: duplications undermine its purpose
  • Poor customer experience: customers may turn to alternative suppliers for a higher level of personalised customer service
  • Decreased user uptake: poor quality data is one of the most common causes of low user adoption
  • Inaccurate reporting meaning decisions are uninformed: decisions based on poor quality data are no more reliable and accurate than decisions based on assumptions.
  • Poor targeting: sending out untargeted messaging can destroy open and click-through rates
  • Wasted marketing effort: annoying someone who receives multiple messages so much that they refuse to open any of your emails

Succeeding in today’s ever-evolving business landscape means becoming proficient at data acquisition. While the obstacles to acquiring relevant and verified data may often feel difficult, there are bespoke businesses who can help ultimately accelerate the growth of your business.

Data Acquisition Services

If you’re looking to outsource your data acquisition, they can offer:

  • Consumer mailing lists
  • Business mailing lists
  • Verified and guaranteed data
  • Test data and sample data available
  • Fully suppressed and viable data to meet your targeted audience
  • A consultant who will ensure your data is on track and your goals and aims have a realistic chance of being achieved

By outsourcing the data acquisition process to an experienced team of experts, you can utilise informed data to make a huge impact on your business.

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