Businesses failing to use their customer data could lose up to GBP 1.7 million each year (UK)

Businesses that fail to make effective use of their customer data could be losing out on up to GBP 1.7 million each year, a new study has concluded.

Research carried out by the Royal Mail found that around 70 per cent of direct marketing companies could expand their operations by as much as 30 per cent simply by investing in data quality systems.

Furthermore, around 90 per cent of the companies surveyed as part of the study feel that the majority of organisations fail to make best use of the data they possess when carrying out direct mail marketing campaigns.

Just 15 per cent of businesses currently have their customer data organised on orderly balance sheet, the Royal Mail research also revealed.

Earlier this week, the chief executive of Proximity, Amanda Phillips, told PrecisionMarketing.com that direct mail marketing growth was at its strongest level for a number of years, with many businesses now seeing the advantages of high data quality.

Businesses that fail to make effective use of their customer data could be losing out on up to GBP 1.7 million each year, a new study has concluded.

Research carried out by the Royal Mail found that around 70 per cent of direct marketing companies could expand their operations by as much as 30 per cent simply by investing in data quality systems.

Furthermore, around 90 per cent of the companies surveyed as part of the study feel that the majority of organisations fail to make best use of the data they possess when carrying out direct mail marketing campaigns.

Just 15 per cent of businesses currently have their customer data organised on orderly balance sheet, the Royal Mail research also revealed.

Earlier this week, the chief executive of Proximity, Amanda Phillips, told PrecisionMarketing.com that direct mail marketing growth was at its strongest level for a number of years, with many businesses now seeing the advantages of high data quality.