Four Steps to Improve CRM Data Quality
Every company knows that their CRM is one of their most
valuable assets. With information such as emails, addresses, phone numbers,
etc. on customers, how could it not be?
However, have you ever stopped to think about the accuracy
of your data? People move, get married, get divorced, or simply input
information incorrectly. According to an industry analyst at Gartner, 25% of
most company data is inaccurate.
This, not only ends up affecting your communication efforts, but also ends up costing your company a lot of money. How much money? Well,
it takes $1 to verify the accuracy of a record, $10 to clean it, and $100 per
record if nothing is ever done. As you can see, maintaining accurate data is
the least expensive as well as the most effective way to get results.
So, now that you know the impact of having quality data,
here are 4 steps you can take to improve the quality of your data.
1. Check Data as it Enters the System
Don’t let bad data sit in your CRM.
Check it at the point-of-entry to avoid it going into the system in the first
place. With a real-time data verification solution, you can prevent bad data
from entering your CRM.
2. Fill in the Gaps-Add Missing Data
Gaps in data can affect your lead
generation and sales funnel. With periodic data append effort, you can add
missing information to increase marketing and sales campaign results.
3. Eliminate Duplicate Records
Did you know that up to 10% of the records
in your database can be duplicate records? Create a “golden record” in order to
have a singular and more accurate view of a single customer. This will provide
you with more valuable insight and improve your sales and marketing efforts.
*Learn more about how to create a Golden Record.
4. Keep Your Records Up-To-Date
Data is inevitably ever changing. However,
that doesn’t mean it is changing and being updated in your CRM. Continually
updating your database with multi-sourced change-of-address records can provide
you with the most accurate addresses for your CRM. This will ensure the
delivery of any and all mailing efforts.
These four steps should be done on a
continual basis. Data needs to be managed and maintained from the
point-of-entry and throughout it lifecycle. Data cleansing will not only
improve your lead generating efforts and customer satisfaction, but it will
ultimately have an impact on your CRM ROI.
If you are ready to improve your CRM Data
Quality, call us to find out how our solutions can help you get better results
for your next campaign.
By Natalia Crawford