Experian highlights the cost of duplicate mailings
Data management specialist, Experian, has revealed the extent to which the financial services sector wastes money by duplicating customers’ mailings.
In a report entitled “Making Sense of a Crowded Nation” Experian sets out guidance on optimising contact data management strategies.
Research commissioned by the company revealed that two-thirds of financial services firms fail to remove duplicate names and addresses from their mailing campaigns, on a monthly basis.
The group’s UK managing director QAS, Stuart Johnston, believes the findings show that many financial services organisations are not addressing contact data management seriously enough.
He adds that in a climate where more organisations are focused on their existing customers as a means to increase revenues, duplicate data is an unnecessary and entirely avoidable cost.
In addition, repeatedly mailing a customer with the same offer sends out a negative message about the company’s brand and its concerns about the environment.
The majority of the companies involved in the survey mailed 100,000 contacts each week, at an average cost of £1 per mail pack.
A one per cent reduction in duplicate data could therefore produce savings of around £52,000 annually.
Category: Insurance News
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