Data Quality Checklist
Understanding the different types of data available is important before launching into a mortgage marketing campaign. It is also important to understand what makes data good and how to target prospects that your products will most benefit and that you’ll be able to sell. Data quality varies based on a number of factors.
Source
Where your data comes from is important when considering data quality. Trigger data, for example, is aggregated from the credit bureaus, which is the most timely and accurate. All other data can come from a variety of sources, and it’s important to know where it is coming from. Something like self-reported data, will be less reliable than data from public records or agencies.
Criteria
It’s important to look into any selections available and understand how they are applying the criteria you choose. Something as simple as targeting ‘aggregate loan balance’ vs ‘highest loan balance’ could dramatically affect response and your ability to qualify and convert the leads that you receive.
Availability
Some data is harder to obtain than other data. Trigger data requires a lot of approvals before you can purchase. The less people that are buying that data, the better chance you have. We’ve worked with our clients to find unique data sets that their competitors aren’t investing in, helping them to decrease competition and increase conversion.
Offer
Having a pointed, specific offer allows you to filter and purchase leads who both have a need and are likely to qualify for the products that you have. What works for one client doesn’t always work for the other, so being able to customize data selections based off your campaign is essential for success.
Author: Kelsey Apperson
With thousands of hours and millions of records under their belt, Kelsey is no stranger to analytics in marketing. They manage a team of experts who have experience developing and maintaining data warehouses and marketing dashboards. Marketing automation starts with our data experts, and you won’t find anyone more capable than Kelsey and their team.
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