The customer data sales departments use to determine sales forecasts, distribute leads, and manage sales pipelines is only as valuable as it is accurate. It’s one of the reasons organizations need to regularly assess customer data quality.
What Happens When Customer Data Quality Is Poor?
Even the most well-written, perfectly-timed sales promotion or lead gen campaign won’t get the results expected if it’s sent to an email database filled with invalid, undeliverable email addresses. Likewise, the sales team may be primed to contact the leads from the latest trade show, but if certain contact information is missing, sales reps can’t follow-up with prospects in a timely manner. And if data that was necessary to qualify the lead wasn’t collected, the sales cycle is delayed or even brought to a halt while sales ops works to fix the data. Those missed opportunities equal missed revenue.
The longer customer data quality goes without being assessed, the more sales reps and sales leaders begin to mistrust the information they’re working with in customer relationship management systems like Salesforce. CRM user adoption drops, forecasts are off, quotas aren’t met, and people start looking for others to blame.
What’s the Best Way to Assess Customer Data Quality?
Previously, when poor data quality wreaked havoc on an organization, some companies would take action with an internal data audit. They would call on their own data analysts, CRM admins, leaders from various departments, and other stakeholders to figure out what went wrong and where. Alternatively, they’d bring in an army of consultants who were tasked with identifying data quality issues and putting together recommendations for how to fix them. Whether the resources were internal or external, they weren’t cheap. Plus, the process of sifting through and analyzing data often disrupted workflows and productivity, which cost the company even more.
Today, thanks to technology that can process large amounts of data in minimal time, machine learning, and the ingenuity of software developers, there’s an alternative: Validity Trust Assessments. This on-premise software solution is designed to assess the quality of the customer data an organization’s sales, marketing, and customer success teams rely on, while also providing a clear picture of the impact those data quality issues are having on the business from both a financial and functional perspective.
The assessment considers the impact of the following types of data errors on revenue, operational efficiencies, campaign effectiveness, and sales pipeline management:
- Duplicates in the database
- Malformed content (content that is unusable or corrupt, such as a phone number or ZIP Code field that has one too many numbers)
- Invalid, risky, and undeliverable email addresses
- Missing engagement points (data necessary to keep in contact with customers and leads)
- Missing business segmentation data (geographic, firmographic, etc.)
- Incomplete decision support data (such as the qualifiers used for forecasting and pipeline management)
This is a game changer for organizations. The information allows an organization to pinpoint data quality errors that are creating inefficiencies, missed opportunities, and revenue leaks, and take immediate and meaningful corrective action.
How Do You Assess Customer Data Quality?
The software is used on premises, and although the evaluation happens on-site, it is run without tying up the organization’s valuable resources or disrupting workflows.
A report is then generated that provides the organization with a Data Trust Score, an executive-ready summary of the findings, a benchmark comparison against competitors of similar size and industry, a high-level analysis of the way customer data quality is affecting critical business functions, and a remediation plan that details a step-by-step approach for correcting the issues found.
What makes this data quality assessment particularly useful is the option to run an unlimited number of assessments. This lets organizations make direct comparisons from one report to the next to see how the data quality initiatives they implement are working.
Increase Sales Productivity Across the Board
Validity Trust Assessments is truly the definitive tool for assessing the customer data challenges that are holding your sales team back, and identifying the best and fastest way to overcome them. To learn how Validity Trust Assessments and our powerful solution, Validity for Sales Productivity, can help your sales team reach peak productivity and revenue generation, click here.