Marketers have been advised to make sure they carefully manage their mailing lists and databases.
Kevin Slatter, managing director of G2 Data Dynamics, said too many businesses are drowning in data and do not have the appropriate tools in place to organise the large swathes of information at their fingertips.
Writing in Marketing Week, Mr Slatter explained that having an understanding about how their business data quality impacts their bottom line could encourage firms to maximise the efficiency of their databases.
“It’s all too easy to take a laissez-faire attitude towards the data at your disposal,” he commented.
“Not only will this result in your data decaying more quickly, but you could also be missing out on huge amounts of revenue.”
Companies were also advised to outsource the management of their mailing lists and business data to third party consultancies that will be able to help them meet their business targets.
Dylan Jones, founder and editor of Data Quality Pro, recently warned companies not to take a “laissez-faire” approach to their business data management.