So, it’s safe to say that the quality of your data:
Empowers your sales team to become top performers for your customers
Enables your marketing team to deeply personalize messaging
Increases your revenue up to 7X!
Let's break it down
How much do you know about your customers? We’d give you a gold star in this category if you’re using the key fields that you’ve built across your contacts. We recommend aiming for 90% completion or more. For example, we recommend that a field indicating fit for your leads, like company size or industry, have a value for at least 90% of your leads.
Down with the duplicates! Your CRM should have unique records and be duplicate-free. We recommend implementing data maintenance procedures for your organization to ensure you’re not working with duplicate data.
When was this contact last updated? If you’re relying on B2B data for your customers that haven’t been updated in a year, 18% of those contacts have probably moved on. Your B2B company data should be mostly accurate after a year unless revenue is a metric you score on and your customers are in high-growth industries. We’d recommend an annual refresh (or bi-annual, depending on your sales cycle and business) to keep data up to date and archive contacts that no longer serve you.
Even if your data is earned and not purchased, how much trust do you have that the right info is in there? Does your sales team mark the address as 1234 Main St, NYC, NY 00000 just to get past the address requirement? Take a hard look and see what lies your data is telling. You can market to your customers OR trust your sales reps to rely on a platform that’s not telling the truth.
Stay on top of your data maintenance. If your team isn’t using your CRM daily to gather and store information, your data will quickly become outdated and inconsistent. Adoption training and usage reporting are essential in ensuring consistent data entry and CRM utilization.
The data can do that sometimes. Don't worry, that's where we come in. Schedule a chat with our team to see if we can lay out some best practices for your business.
Disclaimer - this framework has been derived from the Data Quality Assessment Framework (DQAF) to apply to a CRM marketer’s unique situation. Our definitions do not directly match the definitions set by the International Monetary Fund and are not to be used for reference in an audit.