How Data Can Boost Your Company’s Reputation and ROI

Estimated reading time: 4 minutes

Running a successful company involves implementing strong processes from beginning to end. You need to understand your customers, vendors, and third-parties in order to ensure you’re keeping your company safe and building a strong reputation. From government, to healthcare, to financial services, and nearly any industry in between, you need a full picture of everything going on in your business so you know you’re getting a full return on all your investments. 

So how can different organizations ensure they’re doing everything they can to help their business function smoothly? With data. Here’s how you can utilize an investigative research software to keep your business running smoothly every step of the way.

Use KYC and vendor risk assessment to perform due diligence

Know Your Customer policies and vendor risk assessment are a crucial part of many businesses, particularly corporations and businesses in the financial sector. To perform due diligence and ensure you’re working with only high-quality people and businesses, you need the ability to gather comprehensive data on everyone involved. Whether you work in financial services and you want to be sure your clients are who they claim to be, or you’re considering working with another business and need to be sure they don’t have a history of risky behavior, a public records search engine can help 

You can perform identity verification by pulling records on a person and cross-checking the data to be sure you’re getting the correct records. For example, Tracers uses multiple data points, such as utility listings data and multiple credit bureaus, to better match records for identity verification, as well as provides a full profile of someone’s history, like bankruptcies, fraud, or criminal history, in order to help you assess potential sources of risk. By utilizing public records pulled from multiple data points, you can verify the identities of employees, customers, and third-party players to minimize risk and ensure everyone involved with your company feels safe. And with the best public and private records databases, all of the data is in one place you can easily search from any device connected to the internet.

Improve your marketing with customer data enrichment

Aside from using customer data to minimize the possibility of risk, corporations should also invest in customer data enrichment to better understand customers in order to improve relationships and boost marketing and outreach campaigns. When you do your due diligence on your customers, you get a full picture of not only your current customers, but also potential future customers. Think about it – if you don’t have comprehensive data on the people you’re providing services to, how are you going to reach other people who might also need your services?

A private and public records database can help you perform a deep dive into your customers by providing you with comprehensive information about their backgrounds, like a customer’s address history or business affiliations. When you have this specific data about your customers, you can use it to generate marketing lists and target people in similar demographics or industries. You can also perform social media searches to gather data on your customer’s relationships, which can help you determine prospective audiences. When you understand who your current customers are, their relationships, and the reasons they came to your company, you can implement better outreach strategies and boost your overall marketing results. 

Perform ongoing monitoring to maintain a strong reputation

Optimizing your business and boosting customer acquisition and retention isn’t solely about understanding who the people you work with are at the get-go. In order to be the best company you can be, it’s important that you’re continuously monitoring everyone who is involved with your company, including vendors and third-parties. For example, if you’re in financial services, you need to be sure that you’re getting a proper return on investment when working with vendors or third-parties and feel confident that they’re upholding their part of the deal. 

A public records search engine allows you to perform ongoing monitoring so you can continuously maintain legal compliance and boost your ROI. With Tracers, you can get automated notifications about potential fraud or risky behavior. You can also get real-time incarceration updates in order to ensure no one in your company commits a crime, which is crucial to maintaining legal compliance. With real-time notifications and comprehensive data analytics about vendors, customers, and third-parties, you can feel confident that your company is working with only high-quality people and continuing to comply with local and government regulations. 

No matter what industry you’re in, you want to make sure you’re doing everything possible for your business to thrive. A public and private records database can help you gather the information you need to make people in your company feel safe, implement better marketing campaigns, and monitor fraud and risky behavior – boosting your company’s overall reputation and in turn improving your customer acquisition and retention. 

Ready to get started with a public and private records database? See the Tracers data difference and learn how you can boost your company’s reputation and ROI. Get started today!