Over 80% of companies struggle with inaccurate, incomplete and duplicate data that is costing them time, revenue and productivity. If you’re not seeing the return you want from your sales and marketing investments, it’s time to take a look at the holy grail of your company: your database.
Bad data costs the average company around 10-25% of its revenue, and results in sales reps calling, emailing and researching unqualified leads. Luckily, implementing a data quality strategy is becoming increasingly easier with companies like RingLead offering data quality solutions to intelligently clean, normalize, protect and enrich your data.
First, let’s address some of the key questions you should be asking about your database:
- How many duplicate records are in my database? Duplicate records are one of the costliest problems companies observe in their databases. Having duplicates in your database means your sales reps are contacting the same leads multiple times, wasting valuable time and resources. RingLead’s DMS Cleanse tool enables you to automate data quality in your CRM with a deduplication task scheduler and 55+ custom matching logic rules.
- How much money am I paying in data storage? The more records you have in your database, the higher your storage cost for systems like Salesforce, Marketo and Eloqua. By deduping your database, you reduce the amount of bad records you have, saving you money immediately. Of course, in order to maintain your lower pricing tier, it’s important to implement a preventative measure like RingLead’s DMS Duplicate Prevention tool. Part of our end-to-end data management solution, DMS, Duplicate Prevention prevents duplicates from being created in your database via manual entry, web forms and list uploads.
- How much time am I wasting researching leads? On average, sales reps spend 18% of their time generating and researching leads. Lead generation and prospecting are necessary, but imagine what your reps could be doing with that time instead. RingLead’s DMS Capture enables you to generate, research and save 1,000+ leads within minutes, before exporting them to your connected CRM. DMS Capture can also detect and prevent duplicates from entering your database, as well as enrich the remaining records all before they ever reach your CRM.
If any of the answers to these questions were higher than you anticipated, you may have a serious data quality issue on your hands. Cloud-based data management tools like RingLead DMS can help alleviate many of these problems (and all in real time) to give you and your sales team the best chance at a successful sales cycle. Don’t be ashamed of your outdated database, let RingLead DMS take care of all your data management needs!