Is your data killing your CRM?
Besides adoption issues or employee resistance to change, a silent threat harms CRM implementation more than anything: the data quality in them. How to fix this issue and are you “guilty” of letting this slip in? We’ll find out in this article.
Your CRM is only as good as the quality of your data. In the sales world, this sounds almost like a cliché, but it’s the ultimate truth. We know for a fact that deploying and implementing platforms such as Salesforce or Microsoft Dynamics is challenging for several reasons… But data is usually an item that is mostly forgotten on the list.
Your CRM is designed to help organizations manage their interactions with customers, improve customer relationships, and ultimately, drive business growth. Data serves as the foundation for understanding customer behavior, preferences, and needs. Here are some reasons why data is critical:
The ability to personalize interactions with customers is essential for building strong relationships. With data, organizations can track customer behavior and preferences to deliver tailored experiences and communications. This personalization can help increase customer satisfaction and loyalty.
With the help of data, CRM systems can use predictive analytics to identify patterns and trends in customer behavior. This information can be used to make data-driven decisions, such as identifying which products or services will most likely appeal to specific customers.
A CRM system powered by data can help organizations provide better customer service. Customer service representatives can quickly access customer information, such as previous interactions and purchase history, to provide a more personalized and efficient experience.
A CRM system that is populated with accurate and up-to-date data can help sales teams identify new opportunities, improve the accuracy of sales forecasts, and better prioritize their efforts.
The four data horsemen in your CRM
While data is essential to a CRM system, there can be several issues that arise when dealing with data. These issues can impact the accuracy and completeness of the data and ultimately affect the effectiveness of the CRM system.?
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The most common issue is incomplete data or duplicated data. The first one occurs when information is filled incorrectly or if it is missing critical information. This can result in a lack of insight into customer behavior, preferences, and needs, making it difficult for organizations to personalize interactions with customers.
Duplicated data, on the other hand, can appear when the same customer information is entered multiple times into the CRM system. This creates confusion and makes it difficult to maintain accurate customer records. But it can also happen when having multiple integrations inside Salesforce.
Another common problem with a CRM data is having outdated information. Over time, customer data can “get old” if it is not regularly updated or if customers fail to provide new information. This can lead to missed opportunities and ineffective marketing and sales efforts.
The last issue, and probably the biggest of all, are breaches in data protection. Data security is a critical issue in any CRM system, this is why sensitive customer information, such as credit card numbers, must be protected from unauthorized access. Organizations must ensure that their data handling practices comply with relevant data protection laws and regulations.
Does any of the listed issues ring any bells? If you are a “victim” of the data killer, we’ll tell you how to save the life of your information and keep your CRM up and running.
How to protect your data and, therefore, your CRM?
Effective data management is essential for any CRM system to be successful. Fortunately, there are some good practices you can start implementing now to keep your system safe and sound.?
First, ensure data accuracy. This means regularly checking for typos, missing information, and duplicate data. This can be done through regular data cleaning and deduplication processes. On the same note, create a protocol for data updates. You need to have a process in place for regularly updating customer information, such as contact details and purchase history.
Implement data security measures, such as secure login credentials and encrypted data storage. This can help prevent unauthorized access to sensitive information.
At the same time, you must develop a data governance strategy. Why? Because you need policies, procedures, and standards for data management within an organization to avoid breaches.
Last, but certainly not least, it’s key to provide employee training. Your workforce has to learn everything they require on data management best practices. This is essential for ensuring that information is being managed effectively.
Are you doing any of this to protect your data and, therefore, your CRM? If you are, congratulations! Your software is safe and sound… If you are not, then beware of the dangers and start implementing actions today, or cry about it later.