Strive to Reduce Excess Data to Save Money Skip Tracing
In our last blog post, we explained the importance of ensuring that your skip tracing strategy also aligns with your dialing strategy in order to avoid unnecessary spending. This week, we will focus on reducing excess data and how less “hits” can positively affect your bottomline.
Tip 2: Strive to Reduce Excess Data by Identifying Non-Performing Data Providers and/or Sources
A high hit rate is oftentimes viewed as a good thing, however, when many of those phone numbers do not result in a right party contact (RPC), you need to evaluate the wasted resources and unnecessary data expenses associated with them.
In the example below, LocateSmarter Phone Append returned the same number of right party contacts, but with 3,200 less “hits” – at least a 19% cost savings! LocateSmarter accomplishes this by customizing products at the data source level to reduce excess data. (Contact us to learn more.)
By choosing a data provider that returns less excess data, you not only save money on the data expenses themselves*, but also mitigate the risk associated with dialing wrong numbers.
Be sure to check back with us for tip #3 of our 5-part series where we will focus on identifying where your wrong numbers are coming from to avoid costly lawsuits.
In case you missed the previous money-saving tip, click on the link below.
Skip Tracing Tip 1
LocateSmarter offers customizable skip tracing and compliance solutions that improve contact rates, reduce operating costs and minimize the risk of litigation. With agile development, superior customer service and transparency through analytics, we deliver products built by end users, for end users.