If prospect and customer data doubles every 12 to 18 months, and 10 to 25% of contact records include critical data errors, how soon will the CRM data your sales team uses be obsolete?
Poor CRM Data Quality Impedes Sales Teams
In a recent Validity survey, we asked, “Which do you think is most reliant on CRM data in your organization: executives, marketing, sales/sales ops, or customer service/success?” 52.9% responded sales/sales ops.
Certainly, the data in customer relationship management systems like Salesforce is a vital asset for any sales team. The problem is, it’s not always treated as such. Even if your sales reps are rock stars and your sales leaders are stellar at forecasting, managing pipelines, or identifying opportunities, everyone’s effectiveness and efficiency drops in the face of bad data.
To ensure sales teams have the high-quality account, contact, and lead data they need to do their jobs, it’s important to identify where CRM data quality is lacking and take action to do something about it.
The Truth About Poor CRM Data Quality
There are several contributors to poor CRM data quality and the way it impedes sales teams, including:
- Forgetting to collect valuable information from leads (examples: not asking firmographic data that would help determine lead quality; or not capturing contact data that would allow for prompt lead follow-up)
- Neglecting to record important information gathered during customer engagement (examples: not adding information about a customer’s preferences, interests, or needs to the CRM; or not properly documenting customer complaints and resolutions)
- Errors in data entry or mistakes made when working in the CRM (examples: customers entering typos on web lead forms, at the point-of-sale, or anywhere customer data is collected; team members putting information in the wrong data fields; accounts being assigned incorrectly; or leads being connected to the wrong campaign)
- Duplicates or other errors being introduced to the system (examples: importing an acquired list without first verifying the data; or adding leads after a tradeshow without ensuring they don’t already exist in the database)
- The natural decay that occurs in lists (examples: customer data changing as individuals change physical addresses, phone numbers, and email addresses; or lead and client data changing as individuals change jobs or businesses move, close, or merge)
- A lack of data governance (examples: no protocols in place for regular data cleansing and standardization; no training or accountability; a lack of controls for data access and administrator privileges)
The Far-Reaching Implications of Poor CRM Data Quality
No matter who relies on CRM data the most in your organization, the consequences of all those actions and inactions hurt everyone. When CRM data quality is poor, sales and marketing campaign ROI decreases, lead quality is reduced, CRM user adoption rates drop, and operational inefficiencies grow. Frustrations are felt throughout the organization, leading individuals and departments to place blame on one another for the inaccuracies. The more data quality suffers, the more customer engagement, customer retention, and revenue growth suffer along with it.
Getting the right people in the organization to see the challenges poor quality CRM data creates can be a challenge in itself. But we’ve made that easier with our special report, 6 Ways CRM Data Impedes Sales. In it, we detail what happens when sales teams don’t have accurate and actionable data to work with, as well as the fastest way to identify and resolve the data quality issues that hold sales teams back. Read the report to discover:
- How to evaluate what’s working and what’s not with your customer data
- Ways to ensure your sales team has quality leads and the ability to immediately act on them
- The key to accurate sales forecasting and effective sales pipeline management
- Why there are no winners in the blame game that goes on among CRM admins, sales, and marketing
Get your copy of 6 Ways CRM Data Impedes Sales now. Share it with your colleagues, other departments, and peers. Then contact us for a demo and see what happens when sales teams can rely on CRM data.