Verified address data means accurate, usable customer data within your database. This data is essential for your business growth and is required to build trust with your customer base.
Enhanced Data-Driven Insights
A business is as good as the data they collect. If a company deals with unverified address data, it will have lousy analytics that won’t help them generate actionable insights. This unverified data can send you in the wrong direction, making you deal with its compromised nature rather than your business analytics. In industries like healthcare, inaccurate data can cost lives. For example, suppose there is unverified data involved. In that case, there’s a good chance that the prescription won’t reach the correct address or care services won’t be dispatched to the correct location, thereby making things difficult for the already vulnerable patient. It’s important to rectify incomplete and inaccurate address data points.
If you don’t verify your address data at the point of capture, you’re going to eliminate your ability to gather data-driven insights. You won’t be much use to your customer user base either if you’re dealing with unverified data. On the other hand, verified address data can help you serve your customer better with personalized and revenue-building marketing strategies.
Reduction in Failed Deliveries
Around twenty percent of failed deliveries occur because of inaccurate delivery address details, which costs an average business around a quarter-million dollars in revenue every year. This isn’t just a financial issue; over time, such a massive loss to customers results in reduced loyalty and makes them shift their business to a competitor.
Suppose you collect accurate data at the point of entry using a real-time address verification tool. In that case, you can reduce the rate of failed deliveries and increase on-time delivery rates, therefore negating the need to clean the data after collecting it. This will lead to more satisfied customers, a better reputation for your brand, and repeat business.
Smoother User Experience
Around a third of eCommerce businesses have claimed that they do not verify or check the address data of their users as the users are inputting it, therefore leaving it to the shipper to deal with unverified data. This is a bad practice and can lead to hemorrhaging customers. They’ll grow tired of a bad user interface and experience with an old-fashioned data capture method.
By adding auto-complete and automation to address field boxes on your website, you can please your customers as they will have to spend less time filling forms on your website. Also, this ensures that unverified data doesn’t get the chance to enter your database since each entry will be verified at the point of capture.
Generation of Brand Loyalty
Customers naturally demand a high-quality customer experience (CX). One bad customer experience can tarnish your brand’s name, causing potential customers to take their business to your competitors. Your competitors will have a higher level of digital transformation maturity and will retain your customers with their superior customer experience. If customers deal with clunky forms and repetitive input, they will get fed up quickly.
Generate brand loyalty by valuing repeat customers in the form of remembering their addresses when they come for a repeat purchase. This will help with negating data duplication and make the customer appreciate the overall user experience.
Benefits of Verified Address
With a good data solution put in place, you can cross-reference, combine, and clean data from multiple sources and layer them into a singular record. You can then ensure that your data doesn’t have inconsistencies caused by coverage weakness, old data age, formatting errors, and incomplete inputs.
Verified address data is paramount to the health and growth of your business as it reduces failed deliveries, improves brand loyalty among customers, offers a smoother experience to users, and lets you gather business-critical insights. With a data solution geared toward business growth, you can verify and standardize existing address data and ensure that the data entered into the point of entry is always verified.