From increased shipping costs to lowered brand trust and customer loyalty, incorrect addresses have a profound impact on businesses. The good news is, you can prevent these issues by prioritizing data cleaning and taking proactive steps to improve address accuracy.
Address Correction Fees
If your business sends packages to the wrong place, it can result in rerouting charges from your carrier of choice (FedEx or UPS). These fees aren’t cheap, and they add up over time. Even a small error, such as mistyping a street name or forgetting to include a suite number, can cost your business $2 per package.
Not only does the extra time spent troubleshooting a bad address hurt your bottom line, it also creates dissatisfied customers and lost sales. In addition, rerouting fees can lead to higher than necessary shipping costs and additional administrative expenses.
Incorrect address data can also be costly for your company’s reputation and may cause compliance issues. For example, if your business hasn’t properly verified an address before filing tax documents or a legal case, it could face expensive fines.
The best way to reduce your company’s address-related headaches is to prioritize data cleaning and use a cutting-edge address verification solution that can catch mistakes in real-time before they’re sent out the door. This can help you save money, protect your reputation and improve the relationships you have with your customers.
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