New Experian Data Quality research shows loyalty programs are plagued by bad data
Improving data collection is the top strategic priority for loyalty programs as they look to increase engagement and customer revenue
Boston, Mass., Nov. 18, 2014 — Experian Data Quality, a part of Experian Marketing Services and a leading provider of data quality software and services, today announced the release of a new research study, Driving customer loyalty. The study finds that while the majority of organizations have a loyalty program to drive retention and revenue, most programs have issues with low registration and poor data quality.
“Customers are more empowered than ever before, and organizations have increasingly less control over consumer shopping behavior,” said Thomas Schutz, senior vice president and general manager for Experian Data Quality. “Driving a positive customer experience through loyalty programs is extremely important in this environment, but without compelling offers and accurate customer data, these programs won’t be as effective.”
Experian Data Quality’s research also found that:
• Ninety-one percent of companies have a customer engagement or loyalty program
• On average, individuals can sign up for a loyalty program in 2.15 different channels
• The most popular method for tracking loyalty success is through customer retention, which 63 percent of companies monitor
• Improving data collection is a focus for 64 percent of organizations in the year ahead
“With a quarter of information in databases believed to be inaccurate, it is vital that companies work to improve the quality of information coming through the loyalty registration process,” added Schutz. “Otherwise, they will lack the insight and customer contact data needed to successfully execute these programs.”
To obtain a copy of Driving customer loyalty from Experian Data Quality, please visit http://go.experian.com/loyalty-challenges-ebook?src=PR.
Contact:
Erin Haselkorn
Experian Data Quality Public Relations
1 617 385 6700
erin.haselkorn@experian.com
About Experian Data Quality
Experian Data Quality is a global leader in providing data quality software and services to organizations of all sizes. We help our clients to proactively manage the quality of their data through world-class validation, matching, enrichment and profiling capabilities. With flexible software-as-a-service and on-premise deployment models, Experian Data Quality software allows organizations around the world to truly connect with their customers by delivering intelligent interactions, every time.
Established in 1990 with offices throughout the United States, Europe and Asia Pacific, Experian Data Quality has more than 13,500 clients worldwide in retail, finance, education, insurance, government, healthcare and other sectors. For more information, visit http://www.edq.com.
About Experian Marketing Services
Experian Marketing Services is a global provider of integrated consumer insights and targeting, data quality and cross-channel marketing. We help organizations from around the world intelligently interact with today’s dynamic, empowered and hyperconnected customers. By coordinating seamless interactions across all marketing channels, marketers are able to plan and execute superior brand experiences that deepen customer loyalty, strengthen brand advocacy and maximize profits.
For more information, please visit http://www.experian.com/marketingservices.
About Experian
Experian® is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2014, was US$4.8 billion. Experian employs approximately 16,000 people in 39 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, U.S.; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.