AnalysisCustomer data is the CRM lifeblood. From leads, to contacts to accounts and client thank-yous, business needs accurate customer information in order to complete nearly every relationship building or revenue-generating activity.
When companies attempt to go to work through bad data the results can be costly. That’s according to David Loshin at TechTarget, who warns that while performing a data hygiene analysis on CRM may sound like a headache, it could be the single biggest boost to an organization’s productivity.
Customer data should be a competitive advantage that drives investment and business decisions, and establishes strategic priorities. When data is inadequate or duplicative, Salesforce begins to lose much of the value it can provide.
Data Analysis and Waste
Working with bad data wastes employees’ time and organization resources.
With incomplete or inaccurate or duplicative data, employee productivity is killed. To reach leads or customers, they are required to find and review multiple versions of the record to determine the appropriate number, time to call and outcome of the last outreach.
All that time spent searching for accurate information is time not spent calling, not spent selling, and not spent driving revenue.
Bad data promotes waste in other ways, too. Take Goodwill, the international charity organization and a Touchpoint client. With data from hundreds of thousands of donors coming in through multiple point-of-donation systems, it struggled with duplicate data, incomplete data, and tons of non-validated addresses. As a result, Goodwill discovered it was wasting a fortune on postage mailing materials to duplicated customers and invalid addresses.
Further, bad data can hurt customer relationships. A customer will only tolerate being misdialed, addressed by the wrong name or job title, or unintentionally email spammed so many times before they are burned out of company altogether.
Data Analysis and Business Development
All you know is all you know, and all you know is what your data tells you. From forecasting to strategy to budgeting, everything companies do is based on their data.
If data is incomplete, inaccurate, or even unreliable, an organization cannot move confidently in any direction as a business. False trends, misleading market landscapes, and “ghost revenue” forecasted to duplicate accounts can paralyze otherwise healthy companies. If a Sales Rep can’t be sure, he or she can’t strike at opportunities at the right time.
Data Analysis Solutions
Data analysis and data hygiene add value to an organization’s investment in Salesforce. An investment in data analysis is an investment in productivity.
To that end, a robust data analysis solution should offer the following:
By analyzing Account, Contact, and Lead data in Salesforce, organizations can confidently communicate with more customers, more frequently, with less wasted effort. All while using reliable, accurate data to plan for the future.