10 WAYS DATA VERIFICATION CAN IMPACT YOUR ECOMMERCE BUSINESS

Data verification is a process where data is checked for accuracy and inconsistencies. data-verificationWhen it comes to your eCommerce business, customer data and data verification are of critical importance. Online businesses collect significant amounts of customer data on various points on their website like landing pages, shopping cart, etc. If you aren’tutilizing data validation then it’s time to start. Here are 10 ways that data verification will impact your eCommerce business:

1. Prevent security fraud: Visitors interested in committing ecommerce fraud may provide falsified information. Data validation will help ward against stolen credit card information and identify theft.  According to CyberSource, merchants lost $3.4 billion due to online fraud in 2011. Data verification prevents fraudulent information, since it checks that data is valid, sensible, reasonable, and secure before being processed.

2. Keep CRM database clean: No matter what CRM system you use, it can only be truly effective if clean, correct and useful data is being entered into it. Real-time data verification will ensure that your customer database stays clean from the get-go.

3. Save Time and Resources: Manually scrubbing and cleansing your customer database is time-consuming and costly. A better solution is to utilize real-time data verification tools that can instantly verify and validate your customer data. This frees up your company’s time and resources to work on other mission-critical projects. There is absolutely no margin for incorrect customer data, so leave data quality to the experts.

4. Eliminate undeliverable shipments: Ecommerce businesses should utilize data verification on shipping addresses. If you don’t, you are running the risk of losing your customers’ merchandise. See our infographic on the cost of undelivered mail. Address verification ensures your customers receive their orders in a timely manner.

Just how clean is your data? Identify where your data requires attention, allowing you to choose which areas to improve.

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5. Ensure e-receipts reach the inbox: If you’re an ecommerce vendor, it is imperative e-receipts are delivered to the right email address. Email verification will help with this.

6. Increase customer retention: Data verification on customer records (e.g. names, addresses, emails, and phone numbers) increases the ability to re-market through various channels. If you want to cross-sell and up-sell, then email, direct mail, and SMS marketing campaigns are critical. Without accurate customer data, campaigns don’t reach the intended target market. The result is no critical repeat business. Validate customer data and your marketing campaigns will increase in effectiveness.

7. Improve customer analytics:By collecting standardized data, ecommerce businesses can create more accurate insights about their customers. Our judgments are only as good as the data we draw from to make those judgments. Data validation is the process of downloadensuring that a program operates on clean, correct and useful data. As a result, you can make clearer conclusions and accurate representations from your customer set.

8. Enhance customer satisfaction: Errors frustrate the customer. It is all too easy for someone to unintentionally type incorrect information on your website. Consumers love online shopping for its speed and ease in reaching the checkout. However, it is these exact characteristics that cause customers to unknowingly “fat-finger” their email or phone number. These minor typing errors cause critical problems for ecommerce businesses. They make online shopping a burdensome process when shipments and e-receipts aren’t sent to the proper recipient (see points 4 and 5). This causes a customer service nightmare. What is the solution? Don’t rely on your customers to provide accurate data. Be a savvy merchant that is two steps ahead of the customer. Do not anger the consumer by waiting for problems to crop up. Instead, delight customers by verifying and validating contact data. Real-time solutions ensure that customer data is cleansed while they are still engaged on your website.

9. Enable Email Marketing: The first step to a successful email marketing campaign is a clean, deliverable email list to send to. See our blog entry on how to enhance your email marketing.

10. Increase Revenue: The bottom-line is that data verification works to improve ROI. No matter what you are selling online, accurate customer data is important. Real-time data validation tools ensure your site is optimized properly for first-time conversion and subsequent repeat business.

Posted by Kathy Jameson

Article from: http://blog.strikeiron.com

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