Why CRM Data Quality is Important.
Data Quality is crucial for your business bottom line. In fact, it is estimated that US business lose over $700 billion dollars in lost sales every year because of bad data.
As cloud-based CRMs like Salesforce have proliferated, they have increasingly become the single source of truth for many companies. Sales, marketing, and support all depend upon this data for their reporting and analysis. As a result, the data in a company’s CRM is often the most important data in the whole company.
The Dirty Secret
The dirty secret of CRM data quality is that in many cases, the quality of this CRM data– upon which the entire company depends– is terrible. A recent study of B2B data quality by Integrate corporation that looked at over ¾ of a million B2B companies and found that 40% of the records had significant problems including duplicates, missing fields, invalid entries, and bad formatting or processing.
Ok, it’s not actually a secret. Everyone knows the quality of the data in their CRM has huge problems. The surprise is how widespread the problem really is.
Of course the real question is: How do you address you CRM data problem?
It’s Not a Software Problem
Many people try to address the “Bad Data in Salesforce” problem with software that catches and cleans out duplicate and deprecated records. This can be helpful if you have legacy data issues, but for most companies this isn’t their core data quality problem.
In fact, many companies find that they spend large amounts of money and time on massive software- and consultant-intensive “data cleanses” only to find themselves in the same situation several months later.
Your core issue isn’t a data or software problem.
The core issue is your people and the way they use (or don’t use) your CRM
It’s a People Problem
Rather than trying to fix bad data (and worse, address data that simply isn’t there), you should focus on educating and motivating your employees to put the right data into your CRM in the first place.
If all of your employees don’t always put the right data in the right format, you’re going to continue to suffer from bad data.
How do you do that? First you give your people the initial conditions and tools that they need to succeed … then you follow up with a long-term sustained program of measurement, motivation, and recognition to maintain and improve upon your previous successes.
Want to know more on how you can improve your CRM’s data quality?
You should download our 14-page eBook Salesforce.com is Not a Garbage Can.