“Data really powers everything that we do.”
– Jeff Weiner, LinkedIn
As the CEO for the hugely successful social networking service LinkedIn, Jeff Weiner knows how powerful data can be. Quantcast, a technology company specializing in real-time advertising and audience measurement, calls LinkedIn the world’s largest and most powerful community of professionals. As of 2014, LinkedIn has a community of 200 countries including 93 million customers in the United States and a U.S. penetration rate of 29.9%. Marketers can connect with this audience by leveraging rich profile-based targeting – and these customer profiles come directly from accurate, high-quality customer data.
In a recent White Paper from SDL entitled “Your Data Trumps Big Data” (2014), the authors note that “it’s the small data – the customer’s data – that really impacts the bottom line” and it’s this data that becomes the “currency of engagement” for a successful business. LinkedIn leveraged this data for astronomic growth in their early years, and data appending services such as Accurate Append are highly conversant with this currency of engagement.
The need for digital information only looks to grow in the coming years. According to a study by IDG Enterprise, organizations are experiencing exponential growth with managed data, with an expected increase of 76% within the next 12-18 months. And 31% of companies expect to manage more than one petabyte – or one million gigabytes – of data by the end of 2014. SDL’s white paper continues: “when you focus on using customer data to deliver better experiences, you’ll quickly realize that it’s all about the customer’s data…[which] is the only data that can help you create the hyper-targeted customer experiences needed for a competitive edge. That’s why customer data will become increasingly vital; it’s what fuels the deeper, more intimate relationships that lead to brand advocacy, long-term customer commitment, higher revenue and margins.”
InBig Data: Understanding How Data Powers Big Business (2013) author Bill Schmarzo notes that customer data can help businesses gain powerful insights into their customers’ interests, associations, and affiliations, helping them target their customer interactions via focused marketing campaigns (p. 89) just as LinkedIn has successfully done. Schmarzo also notes that augmenting customer data with a company such as a data appending service can provide other valued information, including key demographics such as income level, education level, and household size.
The paper concludes: “Customer data is the lifeblood of your company. You need to collect it responsibly, analyze it, protect it, and then act on the insights it reveals so you can build the experiences and trust that drive conversion, loyalty, and advocacy.”
Data is a driving force for businesses worldwide, powering everything that we do. Customer data fuels relationships that lead to higher revenue, margins, and enduring customer commitment. Accurate Append can further enhance the customer data you already have, making it more actionable and valuable to your company. We leverage decades of experience and relationships because we know that customer data is the driving force behind successful marketing campaigns, long-term customer commitment, and an increased revenue stream.
Data drives the world. Are you ready to get behind the wheel?