Our Data Tells a Story: Vol 5
Watching data is part of my job. As a Data Analyst, it’s difficult not to notice how astonishing the amount of movement that occurs on a regular basis in the financial and insurance industries. A recent update to our database only reiterated this sentiment. In this blog, I will highlight some of the most eye-opening changes.
Did you know 19,364 producers did not renew their license last quarter?
How about that 24,027 Producers were newly licensed last quarter?
Probably not, because you don’t live in the data world as I do. But that is why I am writing this; most of our clients come to FMG because they recognize the need for accurate and up-to-date data and they want easy access to this data. We continually do the manual work of gathering, organizing, updating and validating all data to ensure our clients get just that. (On a side note can you imagine how costly it may be to your firm to continue to market to the 19,000+ producers who are no longer licensed, if you work with one of our competitors, you may be doing just that.)
Data Validation is crucial to the success of any campaign.
In our continual efforts to provide the most up-to-date data, this past month we validated roughly 70,000 new business phone numbers and roughly 128,000 residential phone numbers. The addition of these new phone numbers now brings our coverage across our entire database to 83% of all records have at least one validated phone number associated to it. I want to emphasize the word “validated” because this is very important as we are the only data company in the industry that does this – Validated means the phone number has been dialed by FMG using our In-House Call Center and a connection was made.
Our data validation doesn’t stop at phone numbers, we also validate every email address in our database to ensure deliverability through our email marketing services. It may come as a surprise, but the average life-span of a personal email address is only about 24 months. This is why it is essential to work with a partner who diligently maintains email addresses by identifying and removing any opt-out or undelivered email address daily. However, our efforts can’t stop at just removing addresses; we continue to add new and validated email addresses as well. This update was no exception, we added over 100,000 newly validated email addresses.
Take advantage of our Data Services.
As outlined above, data is always changing and there is always a need to have accurate data. Are you still working with an old prospect list? Does your house file have a lot of holes? Our Data Hygiene & Data Append Services are designed to provide the most complete and accurate info to our clients. It’s simple, you provide us with your list. We then use our sophisticated match logic to compare your data to ours. We will identify any inactive producers or firms and we update and enhance the information for all active producers. Then we provide you with a new updated list so you can increase your market reach.
Do you want to learn how many producers are available in your target market? Contact us today to learn more.