Episode 67 - How to Avoid BIG Mistakes with Email Data and Bank or Credit Union Marketing

Hit Record Podcast - FI GROW Solutions

In this episode, Meredith Olmstead, CEO of FI GROW Solutions, and Kristin Mock, an inbound marketing strategist at the company, explore real-world challenges and solutions in data management for digital marketing. They discuss a specific incident involving data upload errors at a financial institution and provide practical advice for avoiding similar issues.
Key Takeaways:
1. Importance of Automation in Data Management: The conversation highlights the critical role of automation in preventing errors in data handling. Manually updating and uploading data, as was the case with the discussed client who uploaded incorrect email addresses for 10,000 contacts, can lead to significant issues such as increased costs and email delivery problems. Automating data uploads and integration can drastically reduce the likelihood of such errors and improve overall data cleanliness.
2. Impact of Data Errors on Email Marketing: Learn how simple mistakes in data management could have broader implications for email marketing strategies. For instance, the erroneous upload led to a high volume of hard bounces, which not only affected the financial institution’s email sender reputation but also triggered a response from their email service provider (HubSpot) due to the unusual spike in bounce rates. This example serves as a cautionary tale about the importance of maintaining a low bounce rate (under 1%) to prevent potential disruptions in email communications.
3. Proactive Data Quality Checks: Regular monitoring and cleaning of email lists were emphasized as essential practices to avoid damaging bounce rates and to uphold email deliverability standards. The podcast advocates for a proactive approach to data management, such as quarterly reviews of unsubscribes and bounces and ensuring data accuracy before uploads. This includes double-checking data entries ("measure twice, cut once" philosophy) to mitigate risks associated with manual data handling and to maintain healthy communication channels with customers.