New Benchmark Playbook Shows Businesses How to Avoid the High Cost of Bad Address Data

Let’s start off with a riddle. Can you guess what these four business bummers all have in common?

• An ecommerce company loses money due to negative customer reviews for their continuous shipping snafus.
• A healthcare organization is sued for delivering sensitive patient information into the wrong hands.
• A financial services business struggles to collect payment from mailed notices to customers.
• A marketing team (pick any industry) discovers that their promising direct mail campaign flopped because it reached only a small percentage of customers in their database.

The answer? Bad customer address data.

Bad address data is a silent killer and it’s one of the critical points of failure in the shipping process. According to USPS estimates, undeliverable mail and packages cost businesses over 20 billion dollars per year. Much of this problem is attributable to simple address errors; in fact, 20% of addresses entered online contain mistakes.

Good news is a modern Address Verification Intelligence Platform — especially integrated at the point of customer data entry — can help companies across industries transform their business to avoid shipping, mailing and marketing miscues with superior address verification accuracy.

To help companies across all industries self-evaluate their database, shipping and mailing operation, Lob, the global leader in address verification accuracy, has published the ultimate benchmarking playbook titled, “How Smart Companies Avoid the High Cost of Bad Data.”

Lob processes mail and address data for thousands of companies giving insight into the industry standards for typical deliverability rates — i.e., the percentage of addresses that are deliverable versus undeliverable. This gives us proprietary insights into address verification data across all industries. And our technical superiority makes us 4% more accurate than the competition while reducing 50% of all false negatives - far beyond anyone else.

This white paper was designed to help companies benchmark their shipping and mailing operation performance against industry statistics. Focusing on ecommerce, financial services, healthcare, and real estate, Lob has determined what an average company will typically see for the amount of undeliverable address data. In addition to these metrics, you’ll discover the following:

• The Ripple Effect of Bad Address Data
• Address Data By Industry
• 7 Reasons to Choose Lob

The information inside this white paper should help sophisticated shipping/mailing professionals, who know the value of accurate address data, make a data-driven argument to management to adopt a modern address verification platform.

Bad data can be a horror story; however, with the right address verification intelligence platform, you can write a happy ending with a high level of addressing accuracy. Address verification is critical to reduce shipping costs, lower brand damage risks and, of course, deepen relationships with your customers.

To evaluate the veracity of your address data and the efficiency of your shipping and mailing operation, click below to download this free white paper “How Smart Companies Avoid the High Cost of Bad Data.”