I started out on my journey with data in the late ’90s right at the forefront of cutting edge business applications on the internet. What was once called “customer self-service” has now morphed into the “customer experience.” And the gold rush of everyone getting on the internet has now turned into a gold rush of brands bringing the best customer experience to their users. Put simply, in 2019, the more convenient you make it for the customers, the more customers you’re going to get – quite frequently from a competitor. The higher the quality of data you hold about your customer relationships, the higher the quality of experience you can provide for your customers. But, who holds the responsibility for CRM data? Who’s job is it to make sure your CRM data is shipshape and better than your competition?
Well, if you are a CMO or marketing manager, you should make CRM data quality your responsibility. Pronto. Without organized and up-to-date CRM data, even the most fiendishly inventive marketing campaigns can die on their feet. That’s a huge waste of both time and money. But when you get your CRM straight from the start, you can transform the success of your marketing.
Sounds good? Here’s why CMOs and marketing managers should lead the drive for data hygiene.
That Ringing in Your Ears? It Should Be the Alarm Bells…
It’s a familiar tale. All too often CRM is a minefield of dirty data: missing fields, duplicate leads, and customer details that may as well have fossilized. According to recent research observing more than 1,200 organizations across the UK, Europe, and the US conducted by Experian Data Quality, the average business estimates that 22% of its contact data is inaccurate. Almost a quarter! The estimate is even higher among marketing professionals like you, who believe 30% of their customer records are erroneous.
Have you ever considered how your CRM hygiene stacks up against your competitors and other organizations in your sector? A staggering 38% of marketers believe that inadequate contact data hinders them from getting the best from their marketing automation resources. Well, marketers: it’s time to take control of your CRM data and search for ways to benchmark your progress. Good things happen with clean data. Such as…
1. Better Customer Targeting
The marketing messages that tend to resonate are those that are carefully targeted. The better you refine your marketing to the unique profiles of your target audience, the more likely you are to drive conversions.
2. Happier Customers
Customers are savvy. They understand that companies are collecting data about their various preferences and payslip purchases. And to an ever-increasing extent, they expect marketing that is tailored accordingly. Receiving marketing collateral that is totally irrelevant isn’t going to make your customers happy and could damage your brand rep. Bottom line: nobody wants to be congratulated on a new baby that doesn’t actually exist. You have to make sure your customer experience (CX) stands head and shoulders above that of your competitors.
3. More Customer Touchpoints
Turns out customers want you to go where they go. In a global consumer study, 67% of shoppers said that they use multiple platforms to research their buying decisions. Yet only 7% of those surveyed were satisfied with the omni-channel customer service offered to them by brands, and 87% believed brands need to work harder to create a seamless customer experience across channels.
Easier said than done. But it’s impossible to get close to a successful cross-platform marketing model with dirty data. Unfortunately, Experian Data Quality’s research revealed that 42% of organizations highlighted inaccurate contact data as their biggest barrier to multichannel marketing.
4. Unreliable Performance Metrics
How do you know if your marketing campaigns are successful if you can’t actually measure success? With email marketing, for example, data errors lead to incorrect personalization, deliverability failures, high bounces, and opt-outs. Even the most immaculately conceived marketing campaigns will fail to hurdle CRM data errors.
Yet there are tools that make your CRM hygiene measurable. And, in turn, that brings clarity to your marketing performance results. That makes it easy to show your board how you are taking responsibility for data compliance and using that to improve the integrity of your marketing campaigns. Win, win.
5. Better Use of Human Resources
Every sales and marketing employee has a limited amount of time. A good way to waste it is to have your sales team attempting to call customers on phone numbers that are outdated or briefing your marketing team to create a campaign that’s sent to email addresses that are no longer used. Time is precious. Accurate CRM data helps you to use it wisely.
Responsibility for CRM Data? Over to You…
A successful marketing campaign is born from a dizzying array of ingredients. But one of the most important is also one of the most overlooked. Without accurate CRM data, you set yourself up for failure before your campaign has even been signed off. As a marketing expert, make 2019 the year you take responsibility for the integrity of your customer data. Spring clean your CRM data and insist on a quarterly quality audit. Your results depend on it. If you’re curious to learn more about improving lead quality, listen and watch our on-demand webinar now.