Customer relationship management (CRM) is a powerful tool for businesses, allowing revenue and growth teams to understand their customers better and build stronger relationships. However, it's important to remember that the CRM data that you are using to make important decisions can't always be trusted. Here's why:
1. Data Entry Errors:
Data entry errors are one of the most common reasons why CRM data can't be trusted. It's easy for users to make mistakes when entering data into the system, which can lead to incorrect or incomplete information.
2. Duplicate Entries:
Duplicate entries can be another issue with CRM data. If the same customer is entered into the system multiple times, it can lead to inaccurate or incomplete information. Commonly, sales teams are navigating the sea of duplicate deals and companies in their CRMs, wasting time and money.
3. Outdated Information:
As time passes, customers' details can change. If their new information isn't entered into the system, the existing data can become outdated, leading to inaccurate information.
4. Inconsistent Data:
Inconsistent data can be an issue with CRM data. Different users may enter information differently, leading to inconsistencies within the data.
5. Data Corruption:
Data corruption is another potential issue with CRM data. If data is corrupted, it can lead to inaccurate or incomplete information.
Why is quality data so important?
🧠 To access insights and inform decision making
📈 To achieve predictable growth
🤝 To be a truly customer-centric organization
💪 To build and manage a successful team
Even though the return is huge, we see that truly achieving this is an ongoing struggle.
CEOs, CROs, sales, and marketing leaders who are looking to get to a point of clarity in decision-making, here are some ways in which you can make sure your data continues to be relevant and useful for growth:
✔️ Data governance is key, supported, and represented at the leadership level
✔️ Talk about benefits and outcomes for your sales teams, often (change management)
✔️ CRM system training and onboarding is crucial, not optional
✔️ Quarterly/yearly adoption reviews, supported with coaching plans
✔️ As CRM selection criteria, consider ease of use, data, and automation capabilities
✔️ Create focus on critical data that is required for success, then expand adoption to other areas
✔️ Continued data process optimizations are essential to continued success, change counter-intuitive processes and seek automation to solve for data
CRM memes that got me laughing and crying at the same time
Are you frustrated with your CRM or struggling through adoption challenges?
If are you looking to scale and reach new growth milestones with predictability, you need your tools to work for you, not the other way around.
We help companies quantify 💲💲💲💲 leaking revenue across the revenue funnel (sales, marketing, and customer success) and help with plugging the leaks.
We work with companies in a variety of ways from coaching to consulting to being an extension of your leadership team. Our clients have achieved significant growth and continue to sustain the growth to reach scale using our framework.