- Team ODA
Address Enrichment: A one-stop solution to perfectly reaching your customers
Updated: Mar 3
Around 20% of addresses entered online have errors – spelling mistakes, incorrect house numbers and postal codes to formatting errors. This can be a grave concern for companies shipping across borders, for which they might have to bear unnecessary losses. Adopting automated address enrichment comes as a one-stop solution to overcoming these inefficiencies and helps ensure seamless business continuity.
Address – a significant entity in logistics business
If you are operating an online store or engaged in logistics activities, you have to make sure that your customer address database contains properly formatted and accurate address information. Without correct addresses, package delivery and business communication will be ineffective. Remember, addresses in clients’ data can be amorphous, imperfect, or improper, you never know.
In a survey, a startup revealed that they lost 50% of visitors at the first stage of reviewing records only, such as inaccurate addresses, wrong region or pin code etc. By just improving at this stage, Customer Acquisition Cost (CAC) can be drastically reduced by straight 40%.
The solution to this problem is address enrichment, which keeps your customer address database up to date and thereby helps you ship products accurately. As an end-to-end process that encompasses multiple stages, address enrichment comes with a plethora of benefits for your business.
Why do you need Address Enrichment assistance?
The magnitude of address enrichment, however, might discourage you from initiating it, and it is here that the role of address enrichment and data validation provider becomes pivotal. You can capitalize on service provider’s automated address enrichment processes to have an accurate address database that meets the needs of your businesses.
For instance, real-time address verification web services can be easily used with the existing software system to speed up address data entry, and to assure accuracy using geo-location data and USPS address correction. Real-time address verification tools help you to increase proficiency and precision while reducing overhead costs.
Here we will touch upon different sides of address data enrichment to understand its role in maintaining customer address database.
What is enriched in Address Enrichment?
Here are some of the crucial address elements that are successfully enriched by a proven address enrichment process:
Customer Contact Details
How Address Enrichment Works
What are the benefits of Address Enrichment?
Quickly enriches any number of addresses using individualised task-based projects
Standardizes address database by ensuring correct billing address in the database, which improves delivery accuracy, and optimizes the last-mile efforts in the logistics chain.
With B2B clients, improves the effectiveness of direct marketing and sales campaign
Address database can be easily scaled against uneven trends.
All results are quality-assured for quality and validated.
Understanding the key features of Address Enrichment
Cost and Time Optimization
Offering clear direction, updated addresses eliminate hassles for your delivery teams to reach destinations, thereby optimizing expenses as well as time.
Enhanced Customer Experience
Timely delivery of products boosts confidence of customers in your services, and positive customer experience builds their long-term relationship with you.
Address enrichment mechanisms can be easily aligned with operational workflows and business rules.
Address validation as a part of the enrichment process helps to gain mailing discounts when address validation is done in certified mode from specific countries.
Automated address enrichment speeds up the process, as addresses are automatically completed with just a few keystrokes of the keyboard.
Enriched Secondary Data
Address data is linked to other data elements, which, too, get enriched in the process. So, along with enriched postal codes, landmarks, and geocodes, you also get enriched demographic, lifestyle, and socio-economic data.
Get your address database enriched
Address validation is critical to the success of eCommerce, retail, and logistics companies. Despite spending efforts on making your store more productive, without accurate addresses, you will never achieve your targets.
Optimum Data Analytics (ODA’s) automated data enrichment solutions are aimed at improving the productivity of your business. By partnering with us you can improve conversion while improving routing accuracy.
By using a wide range of data sources, our automated address enrichment offerings will give you an assurance that your address database will always be correct and of the highest quality.