If you are in a business where direct mailing to customers or potential customers is a large part of your day to day operations, then you know firsthand how incredibly important it is to get a customer’s street address right the first time. Without proper address verification, you are most likely going to end up with undelivered or returned mail which can cost your company thousands of dollars annually.
When put in perspective, that can add up to significant losses for your business, possibly putting the company’s viability and reputation on the line. That alone is a substantial argument for the importance of reviewing and implementing an address verification software program for your business.
Additionally, address verification software will help you build sales as well. Consider the impact on your business if all the mail that is returned as undeliverable or with no known address were to actually reach its target audience.
Estimates put the number of undeliverable and incorrectly addressed mail at close to 25% of your outgoing direct mail fliers, mail-packs, newsletters and company brochures. Depending on the size of your customer base this can represent a critical amount of sales lost. This, coupled with the time and money spent to correct the wrong addresses, can impact a business significantly.
However, by ensuring that your customer’s addresses get inputted correctly and accurately the first time – and on the front end of data entry – via an address verification system , you are taking important steps to keep your sales numbers on track. You will also be increasing the overall efficiency of your employees and their work schedules.
Traditionally address verification took place on the back end of data entry which ultimately attributed to the 25% undeliverable or incorrectly addressed mail statistic. Most companies were unaware of their address errors until their outgoing mail was returned. By implementing an address verification system on the front end of data entry, you can eliminate many of the costly errors previously seen when inputting address data into your company’s computer system.
This will ultimately save you a tremendous amount of time, effort and energy. And while many companies have resisted implementing an address verification system because of the initial startup and installation costs, the eventual savings will more than make up for it.
There are a number of different solutions available on the market today, and it is important that you take the time to analyze your options before you make a purchase. When you do settle on the right solution, though, you will be able to streamline your company’s procedures and increase your ROI.