A strategy for enriching and accessing customer data can have a profound impact on marketing and sales productivity and results. The measure of an organization’s effectiveness is often found in customer acquisition and retention, market share growth and profitability gains. A strategy that supports enriching CRM data beyond the level of basic information to a source of genuine customer intelligence will fuel that effectiveness.
Tools for customer data enrichment
The four most important customer data enrichment tools are:
1. Data Verification that ensures that account, contact and prospect information is accurate and complete. This can be done using 3rd party databases.
2. Leveraging customer and prospect data from multiple CRM systems to provide sales and marketing teams with access to complete and accurate information and history.
3. Providing customer information quickly and easily through data access versus data integration. This empowers marketing and sales teams in real-time.
4. Access to additional customer information that can be searched enables better sales strategies and helps reduce storage costs.
Benefits of data enrichment
Here are three ways organizations can benefit from customer data enrichment.
1. Value for the sales team
* Accurate and pertinent information will help sales teams perform better and achieve better results.
* Increasing productivity using better information will lead to strategies that drive better decisions.
* Improved strategies will help achieve higher sales growth and results.
2. Sales intelligence
* Customer data can be enriched using third party data sources. InsideView, for example, provides useful insight for both sales and marketing.
* Contact information can be enhanced to help improve customer interaction with other products.
3. Open customer data access
* Access to all customer data is a huge benefit for your sales and marketing teams and provides them with true customer intelligence.
* Organizations must keep their customer data accurate. Data needs to be cleaned and duplicates kept away from the CRM.
* An advanced fuzzy search engine helps users to quickly and easily locate contacts, accounts, and leads on the first search. These sophisticated algorithms use advanced techniques such as phonetics or nicknames to identify and find key information for your sales and marketing teams.
* To fully leverage the value of their customer data, organizations should make it possible to connect multiple CRMs, ERP systems, call center applications, archived data, marketing automation systems, as well as homegrown and 3rd party data sources.
Enriching customer intelligence and enabling quick and easy access to data can improve sales results quickly and affordably because it creates a rapid, straightforward process that provides sales teams with the most advanced tools in a highly competitive marketplace.
Good Luck and Good Selling!