No matter your business, data is king. The more information you have at your disposal, the easier it becomes to personalize marketing approaches while increasing profits. Whether this means sending out unique email marketing to specific accounts or offering discounts to customers that buy certain products, enhanced data typically means improved customer interactions. The better you meet your customers’ needs, the more likely you will retain them as repeat customers.
All of this data collection has a starting point. Usually, it begins at the initial purchase or even a first visit to your website. Before completing the purchase (or leaving your website), you will ask the customer for specific information, including their email address, mailing address, and a handful of other information. The exact info you need may depend on whether you sell to businesses or individual customers. Regardless if you sell B2B or B2C, it is critical to verify the information the potential customer provides you. Sometimes a customer might accidentally type in an incorrect symbol or character when filling out the data form. You don’t want to miss out on a repeat customer, which is why data verification is such an important part of incentive processing. Partnering with a service provider that specializes in incentive processing ensures data verification is completed accurately.
Challenges For Your Business
Whether setting up an incentive program for customers or simply wanting to grow your email list, collecting information from your customers may seem like an easy and straightforward process. The problem is, while asking customers for their information isn’t all that complicated, making sure the data is accurate is.
Checking out the information offered by one or two customers isn’t that much of a challenge, but if that number becomes several dozen, or even several thousand a week, you suddenly have a lot more work on your plate. Doing it yourself will become especially time-consuming, which leaves less time for other tasks.
Variables To Consider
Beyond becoming time-consuming and potentially requiring additional employees, data verification will only increase during the holiday season (and possibly other times of the year, depending on what you sell). If you can make data verification work on your own during the rest of the year, do you trust bringing on a new, seasonal employee to handle this important, data-driven task during the busiest time of the year?
You will also need to build a proper capture workflow and rely on a new application. The programming and infrastructure cost will slash your bottom line, and there’s no way of knowing if it can handle the holiday season until after actually using the established infrastructure during the holidays. Don’t forget your workflow needs to be designed properly so you are only verifying the information that matters! No need to do the work if it isn’t used for a useful purpose.
Instead of trying to carry out all of the data verification on your own, why not partner with a service provider specializing in this kind of work? Plus, instead of using a pre-assembled application that may not offer you exactly what you’re looking for, a service provider like Incentive Insights can offer a customized data capture process that fits you and your business like a glove.
Our highly trained staff can create a customized data capture workflow to meet your business needs, even if these needs evolve throughout the year. Perhaps you would like to add new data points around the holidays, or you want to tweak a question during the summer. Whatever your needs are, the skilled and trained staff at Incentive Insights is on hand to deliver highly accurate results. And after all, the more accurate your data collection is, the more customers you will keep “engaged” – this is true for both new and long-term customers. Note, the value here is making the customer feel like you know them! With good data, that is used properly, you can easily upsell or cross-sell with new product lines or categories. Don’t let bad data get in the way, don’t miss out on a potential customer (or repeat customer) because they typed a wrong letter into their email account or the wrong number on their mailing address.
Incentive Insights can adjust the staffing needs to align with your company’s demands. The built-in workflow and proprietary system will offer double-blind data verification for the highest possible accuracy. All of this goes towards improved reporting. It will also help you analyze shopping patterns with your customers, which can do everything from identifying problems with your incentive programs to highlighting what products customers are likely to be interested in.
Discover the Incentive Insights Difference
Staying on top of incentive programs as well as the data given to you by customers can be a challenge. As your business grows and more customers offer their data, you can quickly become overwhelmed with information and what to do with it. Eventually, it will take up far too much of your time, and the only way to stay on top of it is to hire additional employees and invest in new programs and hardware. This represents a major expense, which is counter-productive. The entire purpose of collecting data is to improve your bottom line, not carve into it.
With Incentive Insights, you have access to a service provider that can handle all of your data verification and other services, such as constructing an incentive program, notifying you of a customer’s successful enrollment into the program, as well as their completion of the program. So, if you have additional questions regarding what Incentive Insights can do for you, or you are ready to elevate your data verification and incentive creation game, there’s never been a better time to contact Incentive Insights than right now.