2.5 Quintillion – that’s how much data is created every single day worldwide. But how much of this data is actually valuable to your business? Well, that all depends on what key information your reps need to be successful.
There is one thing in common between all businesses when managing data: a large percentage of data that a company stores is NOT useful (20-30% on average to be exact). Bad data includes duplicate records, incomplete records, and/ or inaccurate records. Accumulating unnecessary data over time can lead to wasted money, time, and resources that companies can’t afford. Here are some steps you can take in order to better manage your database:
- Normalize and Clean: The first step to maintaining a healthy CRM is to clean out the bad data. Bad data can include duplicate or inaccurate records that take up of unnecessary space. Roughly 20% of a company’s database contains duplicate records, meaning you might be wasting money storing records that are unusable. Cleaning out erroneous data manually however, can take hours or days, is an inefficient use of time, and might not be 100% accurate. RingLead’s DMS Cleanse can help solve this issue by removing all duplicate records from leads, contacts and accounts with the click of a button. Cleanse will then merge all remaining records into one, cohesive record in your CRM and all within minutes.
- Set up Prevention: After you’ve cleaned out the duplicates, you will now want to prevent any more from entering. Even if you continually clean up your database, whether it be manual or with a tool, you will still be wasting time by allowing those dupes to enter. It is best to stop them from entering all together so you don’t risk your sales reps calling, emailing and researching duplicate leads that just haven’t been cleaned out yet. RingLead’s DMS Duplicate Prevention can do just that by preventing all duplicate records from entering your CRM at any stage in the sales cycle. Just like DMS Cleanse, Duplicate Prevention will then merge all remaining, valuable data in your CRM’s and marketing automation systems.
- Enrich Incoming Data: The last piece to keeping a strong database is to enrich the data about potential prospects. Having more detailed information about a company’s size, revenue, location and other firmographic information, can help your sales reps quickly determine whether or not prospects are qualified for your product or service. It also gives them a good idea about what type of company they might be working with before making initial contact. Once again, researching this type of information can be time consuming and may not reveal the most accurate data. RingLead’s DMS Enrichment provides the highest match and fill rates in the industry which makes contacting a lead in under 5 minutes of entering your CRM possible.
By following these steps, maintaining your company’s database will save you time, money and energy long term. Ringlead’s Data Management Solutions are here to help make this process easier by being the industry leading, and most convenient way to handle all of your erroneous and duplicate data. Learn more at www.RingLead.com.