5 Benefits Of Improving Salesforce CRM Data Quality
Melissa IN Team | |
Companies no longer compete just on prices and product features, but more importantly, on customer satisfaction rates. After all, there’s a limit to which you can lower prices and replicate product features such that they are no longer an USP.
Keeping your customers happy is the key to customer loyalty. When they feel like their voice is either not heard or needs not met, they quickly turn to competition. A recent report showed that 33% of the customers, who abandoned business relationships in the past year, did so because they were not receiving personalized experiences.
Salesforce is a popular cloud-based customer relationship management platform that efficiently stores and manages customer information. Access to right customer information is the foundation to keeping your customers happy, however, it is effective only when your customer information is accurate and meets high data-quality standards. Here we list out 5 different ways your business can get positively impacted just by improving Salesforce CRM data quality.
1. Build Trust in the System
One of the biggest challenges of becoming a data-driven company is gaining the trust of your employees and helping them understand the value of customer data. Data is as an asset and interestingly, data quality and employee trust are interdependent.
When the customer information stored in salesforce is valid and verified, employees will have more trust in it and will be happier to use. Lead conversion is likely to be higher when employees can personalize communication, for example, address a customer by the right salutation/name.
Similarly, personalizing product promotions based on a customer’s past purchases can increase the chances of repeated purchase. In turn, this gives your team trust in the system and helps them recognize the value of maintaining high-quality data. When they understand the value of good quality data, they will be willing to make an effort towards improving it.
2. Maximize Customer Satisfaction
According to a Global Customer Service report, 72% of all customers surveyed, expect customer service agents to know “who they are, what they have purchased and have insights into their previous engagements with the company” whenever they contacted them. It is also important to note that customer expectations are constantly increasing.
For example, when customers call the customer service team, they may expect the agent to have their information readily available instead of performing further verification.
Thus, having the right contact data is critical. Improving Salesforce CRM data quality and integrating it with other systems minimize the risk of contact center executives making mistakes during their customer interactions. This in turn helps in meeting customer expectations and keeping them delighted.
Whether it’s data collection or storage, there are costs associated with every aspect of data management. As the company grows, the volume of data it holds increases and so does the cost of managing it. However, if the company validates its customer data while entering into the system, it can be deployed and used directly from the database, therefore reducing the cost of managing it over time.
For example, having verified customer addresses can help your marketing team understand customer demographics and assess their needs more accurately. Similarly, verified email addresses give you a trustworthy mailing list for your newsletters and promotional campaigns. Reliable Salesforce CRM data improves your chance of success increases the returns on the investment of maintaining your data assets.
4. Increase Campaign Efficiency
The efficiency of any campaign is directly proportional to the quality of data it is based on. For example, if you have accurate and valid email addresses, the bounce rate of your email campaign will be low and your message will be delivered to the right set of customers. However, if the majority of the email addresses are invalid, your customers will not receive the message. Furthermore, higher bounce rate will result in your domain being blacklisted. Thus, improving CRM data quality and making sure it is verified and validated makes your campaigns more effective and improves the overall marketing performance.
5. Reduce Operational Costs
Poor quality customer data can cost organizations as much as 20% of their revenue. For an E-Commerce company, an incorrect address can delay order delivery and shipping costs could increase exponentially from redelivery.
Having high-quality data not only boosts the ROI of maintaining a Salesforce CRM but also reduces other operational costs. It also provides an accurate view of customer demographics and makes data-driven decisions more reliable.
Taking The First Step To Improve Salesforce CRM Data Quality
Manually checking all customer data and verifying it before it enters the Salesforce CRM can be virtually impossible. Thankfully, there are a number of software solutions available that can verify and validate the data entry against a trusted in-country Data Source. This process happens in the background without requiring any additional inputs from the customers thereby providing a secure, seamless onboarding process.
Choosing the right software is critical. It should be able to cleanse and complete the data, verify it before entering it into the CRM system in a secured manner. This reduces the risk of having duplicate customer records. In addition to verifying and validating customer data, it should also be able to correct inaccuracies and enhance data. Lastly, it should be easy to integrate into your existing systems.
With the right software aid, you can improve your Salesforce CRM data quality and move towards becoming a Successful data-driven organization.