Many may not realize, but every activity happening in your business is a data point. Bring your customers into the equation, and every activity becomes an entire library of data. The last decade of connectivity has created an open opportunity for marketing and operations teams to move online, and a great deal of new software and techniques have been developed for improving customer experience and bettering the relationship a business has with its consumer.
One of the most important data points recorded is address data, and we’re looking at ways businesses responsibly use address data to provide value to their customers.
Consumers’ trust in the company
Consumers are growing increasingly anxious about how their private data may be used. This is magnified when it’s sensitive data like information of the place where they live. As data is becoming increasingly vital for how businesses connect to their end-users, gaining and keeping consumers’ trust has become more important than ever.
Companies that are transparent about the data they collect, give customers control of that data collection, and offer a fair amount of service in return for it are the companies coming out on top in the modern market. The companies desiring access to consumer data can offer value in return to the customers in terms of better services.
However, it all comes back to the trust. The inclination of a client to share their data with the companies largely depends on the brand value. Another important factor can be the transparency about the use and protection from external or internal malice.
Consumers do realize and appreciate the fact that data sharing to the companies they purchase from, can lead to products and services that make their lives smoother and save them money. And while there are advantages, this flood of data presents chances for abuse, by the company or any external malice, which do lead to trust issues between the consumers and the company. Yet, disclosures about organizations’ clandestine exercises additionally make shoppers anxious. Some examples would include credit card information theft and targeted burglary. It is the company’s responsibility to safeguard their consumers from being vulnerable to malicious agents through the data shared with them.
Using Address Data for Better Experience and Predictability
Food and product delivery has seen a massive increase in the last five years, with a substantial increase during the pandemic. This has caused consumers to expect the highest performance from businesses.
Address verification can help consumers save costs by eliminating the unnecessary delivery and distribution costs incurred by address corrections or changes. It will also help in keeping delivery workers safe as it means logistics teams are operating more efficiently by only delivering to exact addresses. Geocoding addresses is an efficient way to convert addresses into geographic coordinates (latitude and longitude), which address storing databases can use to place markers on a map, or position the map. In this way, deliveries can be optimized, through proper route planning each shift.
There are other companies for the purpose of mass transport (Uber, Careem), or food delivery (Zomato, Uber Eats) that can make use of consumers address data to arrive exactly at the consumers’ porch without the need of any additional prompts for the verification of routes, or address. This could also be used to ease the consumer by preventing them from going through a checkout process only to realize that the restaurant doesn’t deliver to their address. This bad experience can be avoided by only showing valid restaurants in their area, that will provide an overall easier and better experience for them.
Integrity and Consistency in Services
Data analytics can bring together information about sortation, delivery routes, and customer expectations. While this helps to deliver significant bottom-line savings, it also gives businesses insight into regions with heavier demand and can correlate it with property data to build insights for predictive capacity planning. Typical problems like route optimization exist within every delivery company, but a strong analytics program can factor in details about the customer experience to make these calculations even more robust. This boils up to functionality like assigning priority based on time-to-delivery and additional dimensions like per-customer benchmarks for prior deliveries.
Every time an address is wrong, delivery is late, or a product is simply unavailable, problems are created for the business. Couriers charge extra per package for address correction and return rate is higher for late products. But most importantly is the hit that is incurred on the brand’s reputation. This is why Address Verification is so important, both for the business as well as the consumer. It ensures the consumer gets the highest quality value for what they pay, and simultaneously boosts the company’s reputation and brand value.