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Cost of Dirty Data: The £900 Billion Annual Burden on UK Business

By |2023-11-14T10:23:03+00:00November 14th, 2023|

Dirty data is costing the UK economy £900 billion. The impact of unclean data is estimated to stand at 20% of an organisation’s revenue. In 2023 revenue of UK business is thought to total £4.5 trillion meaning that failing to keep customer data up-to-date cost £900bn. In terms of the impact of this on individual businesses, a single ‘inaccurate’ customer record is currently costs an organisation £81.11. Experian research reveals that 22% of customer records within the average database are inaccurate. This means that an organisation with a database comprising 500,000 customer records could be looking at a £811,000 cost to the business. The retail sector was found to have the highest associated cost of unclean data at £300bn, whilst [...]

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In the mood for giving: How well-being sparks generosity through direct mail

By |2023-10-31T17:06:16+00:00October 31st, 2023|

A new academic study from the University of Massachusetts and Georgia Institute of Technology has found a connection between donor well-being and their generosity, suggesting that designing direct mail campaigns that makes people feel happy will be an effective way to encourage donations. The concept explores the concept of “preheating,” by replicating the warm glow often associated with post-donation moods. While psychologists are familiar with this idea, the study is the first to identify the impact of this on charitable giving. Using natural language processing tools the sentiment of communications donors sent before and after they made a donation were analysed. The researchers detected a reliable and statistically significant mood boost in communications sent up to about an hour before [...]

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Unleashing the Magic of Mail

By |2023-09-25T12:24:44+00:00September 25th, 2023|

We are all now coming round to the fact that there's something timeless and magical about direct mail. You just have to scan the recent news headlines to see that mail’s resurgence is not a flash in the pan. According to JICMAIL its effectiveness recently reached its highest point in a year and a half, with an impressive 31 per cent of mail driving positive commercial outcomes for brands. It is also now the most trusted form of marketing by consumers and commands attention for c.2 minutes across a lifespan of 28 days in the home. Its therefore unsurprising that Marketreach has breathed new life into their "Magic of Mail" campaign, aiming to showcase the incredible attributes of physical mail [...]

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Keeping Pace with AI Ethics

By |2023-09-08T12:13:43+00:00September 8th, 2023|

Artificial Intelligence (AI) has become an integral part of our lives, from voice assistants to recommendation systems and autonomous vehicles. Its transformative power has brought both remarkable advancements and profound ethical dilemmas. Recent calls from MPs urging the Prime Minister to pass new legislation for AI safety in the UK, before the EU takes the lead, have brought the spotlight back onto the importance of AI ethics and the critical role data hygiene plays in ensuring safe AI systems. The Call for AI Safety Legislation MPs are sounding an alarm, warning that the UK risks falling behind in the global AI race if comprehensive AI safety legislation is not put in place promptly. The European Union is poised to establish [...]

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Direct marketing spend at highest level since 2006

By |2023-08-02T10:08:51+00:00August 2nd, 2023|

The ongoing cost-of-living crisis has had a big impact on media spend, the latest IPA Bellwether report reveals. Main media budgets encompassing TV, online, radio and press have tanked, whilst direct marketing, events and sales promotions have soared, reflecting reactive change by UK businesses in response to the economic climate. Sales promotions achieved the highest growth rate (13.4 percent), its biggest uplift in more than two decades of survey data. This indicates that marketers are keen to support their customers by providing them value for money, through offers and deals. Events also performed well, experiencing an increase of 9.3 percent. The growth is attributed to a desire from brands to have closer, more personal relationships with their customers. Underpinning this [...]

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Those most likely to donate as a result of Direct Mail

By |2023-07-21T09:18:23+00:00July 21st, 2023|

A new study, The Future of Direct Mail 2023, reinforces the effectiveness of direct mail, with the overwhelming finding that 81% of people engaging with direct mail in some way. Almost two thirds were found to have purchased a physical product as a result of receiving a piece of DM, 43% took advantage of a discount or special offer that was promoted through the mail, 35% applied for a financial product whilst 25% donated to charity as a direct result of a call to action within a mail pack. With charity fundraising suffering as a result of the cost-of-living crisis, understanding the impact of direct mail and who is most likely to respond is incredibly valuable. The report finds that, [...]

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Data processing security is key data concern for 2023

By |2023-07-11T13:01:31+00:00July 11th, 2023|

Our latest review of the GDPR enforcements undertaken by the ICO over the past 12 months reveals that data processing security and right of access are the most common infringements since July 2022. Almost a third (30 per cent) of the 30 recorded infringements this year pertained to Article 5, the principles relating to data processing and of these 21 per cent were for Article 5 (f) which specifies that personal data must be processed in a manner that ensures appropriate security. Sixteen per cent contravened Article 15: Right of Access by the data subject and 15 per cent were non-compliant to Article 12 (data transparency) and Article 32 (security of processing). Last year the lion’s share of enforcements (61 [...]

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The Renaissance of Direct Mail Gathers Apace

By |2023-07-04T18:12:32+00:00July 4th, 2023|

As you may have read in Decision Marketing recently, I was quoted as saying that direct mail was experiencing something of a renaissance; and that this in part was a result of more responsible targeting due to GDPR (which turned 5 at the back end of last month). You can read the article here: https://www.decisionmarketing.co.uk/news/gdpr-five-years-on-the-death-knell-for-lazy-marketing In case there were any doubters, my assertions have been justified by the latest set of JICMAIL results: mail effectiveness is soaring. Direct mail engagement and effectiveness reached their highest level in a year, with the Q1 2023 results showing that despite another challenging quarter for consumers, a greater proportion of mail was engaged with than at any point in the previous year, and a [...]

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8 reasons why should you switch to SwiftCore now for all your data processing and management needs

By |2023-04-26T08:10:19+00:00April 26th, 2023|

What is SwiftCore? SwiftCore is our powerful computing platform, hosted on the Microsoft Azure Cloud, that offers a range of services designed to help organisations process their CRM contact data more efficiently. Why is SwiftCore the best solution for you? It is secure One of the most significant advantages of the Azure Cloud platform is its robust security features. Azure provides multiple layers of security, including role-based access control, multi-factor authentication, and encryption, ensuring that data processed in Azure is secure and compliant with industry standards and regulations. It is compliant Because Swiftcore is a UK hosted solution, the data processed within it complies with all UK data protection regulations. This feature is particularly important if you handle sensitive or [...]

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On-prem v cloud data breaches: where is the safest place for your data?

By |2023-04-04T07:25:12+00:00April 4th, 2023|

According to the Cost of a Data Breach Report by IBM, the average total cost of a data breach for businesses in the UK stands at £2.9 million. This represents an increase of 9.4 per cent from the previous year's report. The report also found that the average cost per compromised record was £98 which is higher than the global average of $146 USD per record. Obviously, the cost of a data breach can vary depending on a range of factors, including the size of the organization, the industry, the type of data compromised, and the severity of the breach. However, the cost of a data breach can be significant, and can include expenses related to legal fees, regulatory fines, [...]

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