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So you have a CRM database with lots of data – YAY, great for sales and marketing!
Hmmm – maybe.
· Target the right prospect
· Service the right customers
· Provide a better return on your sales and marketing efforts
· Eliminate sales and marketing inefficiencies
· Stronger pipeline
· Increased customer retention
1. Realize that data hygiene is not an IT issue, but a business issue.
2. Take the leap of faith that data quality does deliver a measurable ROI
3. With the appropriate team members, discuss and develop a plan of action to maintain data quality across the company. Most importantly, focus on the point of entry which could be a sales or customer service employee, web form or marketing list import. Some of the specific action plans can include:
a. Train your team on speaking with customers and prospects to acquire all the information necessary and to S L O W down in their data entry.
b. Simple required fields in your CRM.
c. Ask for all necessary fields on your Contact Us page on your website. Now, I know there is a fine line between asking for too much and loosing the prospect, so you will have to navigate this. However, what good is a partially completed lead anyway?
d. CRM training.
e. Ensure your CRM data entry forms are easy to use and navigate.
f. Invest in a list provider that regularly cleanses and updates your data with your CRM application. A great one that Webfortis uses is http://www.dnb.com/sales-marketing/dnb360-crm-integration.html#.UeTAFW2JQnM.
g. Integrate social media into CRM for your sales and marketing team to quickly interact with prospects and customers. Webfortis does this with http://www.webfortis.com/webfortis-social-media-solutions.aspx.
h. Integrate your CRM database with the U.S Postal service for address verification right at the creation of the record in Microsoft CRM (shameless promotion, just ask us how).
As you review the above, what could any of these numbers mean to your company in dollars? For example: if your company does $10 million in sales, how does an additional $200,000-$300,000 sound to you in up sell/cross sell. From a marketing standpoint, an additional 1-2% response rate can equate to a lot of sales.
So will your data ever be perfect? No. Are there steps your company can take to improve its data quality? -Yes. Is it worth the effort? ABSOLUTELY because it means new found money.
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