Did you know that approximately 20-30% of data that a company stores is not useful? Having erroneous data in your CRM can lead to an array of problems and a number of wasted resources long term. It is imperative that companies take the time, and spend the money, to clean up and maintain their database to increase sales productivity and have the best chance at success when generating leads, calling on prospects and closing deals. Here are 3 main reasons why every organization should clean up their CRM:
One of the most attractive parts about cleaning up your data, is that it can save you big bucks. Instead of paying your sales reps to manually append and clean up your CRM, you’ll be paying them to do their real job: sell! The more sales reps using clean and validated data to make calls, send emails and schedule demos, the higher your team’s conversion rates, and ultimately, revenue contributions. You can also save additional budget by reducing your data storage costs. On average, it costs a company about $100 per dirty record to store. Multiply that by the amount of dirty records you have and you’re talking potentially several hundred-thousand dollars wasted to keep unusable data.
Time is Money – and once you clean up your database, your sales reps can now spend more time on the phone connecting with prospects instead of trying to dig through archives of old and incomplete data just to find a phone number. According to Salesforce, 20% of records entered are duplicates alone, and one minute on average is wasted per dupe. This means that hundreds of hours can be lost every month trying to manage your duplicates, taking away time from selling. A study by DiscoverOrg found that sales and marketing departments lose approximately 550 hours and $32,000 per sales rep from using bad data.
The last thing you want to do as a sales or marketing rep is agitate your customers by repeatedly sending them redundant information. Having duplicate records in your database means you’re sending the same marketing materials, to the same customer, multiple times. This can lead to lower open, click-through and response rates, in addition to angry and uninterested customers. By cleaning out the bad data, you will also be able to more precisely target your preferred audience by having more streamlined and accurate information about your customers.
Thankfully, there is one cloud-based system that can clean, protect, enrich and normalize all of your data with just a few clicks of a button! RingLead’s Data Management Solutions (DMS) platform is the industry leader in helping manage your data in the most cost and time-effective way. Learn more about RingLead!