In today’s highly digital, constantly-connected world, massive amounts of data are created and changed every second.
In fact, 2.5 quintillion bytes of data are created each day. And, if that number wasn’t hard enough to wrap your head around, 90% of the data in the world was created in the last two years (source).
This unparalleled access to data is typically seen as great news for marketers and businesses. Think about it, personalized marketing is critical for businesses that want to cut through the thousands of marketing messages consumers see each day. And, data is what allows marketers to do this.
But, even the most comprehensive contact databases and analytics programs won’t stand the test of time. Here’s why: Data decays just as quickly as it’s created. Consider these statistics:
- 40% of business objectives fail due to inaccurate data (source)
- Bad data costs U.S. businesses more than $611 billion each year (source)
- Inaccurate data has a direct impact on the bottom line of 88% of businesses, with the average company losing 12% of its revenue as a result (source)
The truth is, inaccurate data is likely having a huge impact on your ability to market your mobile apps—and you might have no idea! For this reason, we put together the following blog post. So, keep reading to learn about data enrichment and its impact on mobile app marketing.
What is data enrichment?
There are many different types of data. For the sake of today’s article, when we refer to data we mean contact and company data—like the data most businesses house in their CRMs. This data is critical to nearly all marketing functions and can wreak havoc on business initiatives if left unattended.
Enter, data enrichment. Data enrichment is the process of working with an outside data provider or service to add value to your current data set. This process is meant to fill in gaps, correct inaccuracies, and normalize certain fields. The end result is a more accurate, actionable contact database.
Here’s why data enrichment is important to the marketing of your mobile app:
1. Understand your target audience:
Data enrichment will provide a more complete view of your target audience. You likely know which demographic you expect to download your mobile app—but do you have the data to back it up?
Often, particularly with small companies and startups, marketing is based on gut instinct. But, if you want your mobile app downloads to increase, you must work with your contact and customer database to understand who exactly you’re targeting with your marketing efforts.
We recommend using data to construct buyer personas—or profiles of your ideal customers. Buyer personas can help you understand who exactly downloads your app, who makes in-app purchases, and who is most active—all in an effort to target more of these high-quality users. But, without accurate data, this is nearly impossible.
2. Improve customer relationships:
The more you know about your customers and prospects, the better you can meet their needs—whether through adding new features or functionality or simply by having the correct contact information for someone struggling to use your mobile app.
When you work with inaccurate customer or app usage data, who are you really building new features or expanding functionality for? The answer? Your guess is as good as ours.
3. More personalized marketing communications:
We’ve already explained that personalization is critical in marketing today—but we think it’s worth mentioning a second time.
Think about it: There are millions of apps competing for the attention of the same audience. As a marketer, personalization allows you to cut through the noise and reach your prospects using better, more effective marketing techniques. In fact, 77% of consumers have chosen, recommended, or paid more for a brand that provides a personalized service or experience (source).
Yet, personalized marketing requires consistently clean data. Without data enrichment processes in place, marketers run the risk of using the wrong name, email address, purchase history, and so much more.
4. More accurate reporting:
As with any business venture, reporting is a key part of mobile app development and marketing. You need reports to understand downloads, usage, and different areas of improvement. But, without data enrichment, you’re likely working with out-of-date, inaccurate information.
With access to more accurate marketing reports, you’ll be able to make more informed decisions about how to test and market different aspects of your mobile app.
5. More strategic-decision making:
Data-driven decision making is a must-have in any business—without data, you make decisions based on best guesses and gut feelings. Unfortunately, this type of marketing lends itself to human error and inaccurate assumptions. Data enrichment enables better decision making and provides you with the insights you need to grow and transform your mobile app.
Key Takeaways About Data Enrichment and Mobile App Marketing
If it’s not already clear, let’s state the obvious: Data enrichment will only improve your marketing efforts. If you’re not sure where to start, partner with a data provider to audit and enhance your existing database- modern data enrichment tools make the task of database clean-up quick and easy. Then, clean up the different mechanisms you use to collect contact information—require all form fields, use drop down menus to standardize fields, and minimize manual data entry.
Although this will improve your data quality, it’s only a matter of time before your data begins to decay again. For this reason, the modern marketer must prioritize contact database cleanliness. Make this a once a year process or more often if you have the resources. Otherwise, outdated contact information could be costing your business a significant amount of money.
For more information about ZoomInfo, reach out to our sales team today. We are the information business with the resources to scale and improve even your toughest marketing initiatives.