The cost of handling a CRM record can be massive. A Sirius Decisions study showed that it costs a company $1 to prevent one bad record from entering a CRM system, $10 to correct that bad record after it is entered into your CRM, and even worse, it costs $100 if nothing is done, as the ramifications of the bad data are felt over and over again. To stop this downward spiral, use the three pillars of data quality.
Without performing a comprehensive data cleanse, you’re off to a poor start. For example, if a record is imported from a trade show list, it is created manually via a sales user, and created again via a web form submission. Now this user exists in the CRM three times. Cleaning your data ensures a standardized approach to your data entry process. It supports unique, duplicate-free records.
Once you clean your CRM data, you have to keep it clean. Contact data changes as people change jobs, are hired, fired or promoted. Wrong phone numbers, email addresses and job titles can linger in a database if left unchecked.
Without a protection strategy, your data will continually decay. Not only do phone numbers, emails and titles change, but as your employees are entering data into your CRM, they are creating duplicates and entering data inconsistently.
Consider your methods of input. For instance, there are a variety of ways for employees to type in job titles, which makes precise database segmentation impossible. For example, here are variations on the same job title and state information:
Without enhancing your existing data, you limit your data potential. Additional information on the record will help to complete the contact’s information, giving you a 360-degree view of the contact. It ensures the data is accurate by verifying the email addresses and saving your salespeople time from sending bad emails. When sales teams, customer success teams and other employees do not have access to a complete record, they waste time looking in external systems and on the internet in search of that contact information. According to Sirius Decisions, this results in over 30% of an employees time being wasted on contact research. This sense of completeness can even lead to new accounts.
I will be presenting even more on this topic at the Denver Salesforce User Group event. Learn more here and join me if you’re in the area!