The leading cause? Poor data quality.
Poor data quality costs the average organization 12% of their revenue.
CRM data quality plays a critical role in Sales efficiency. Bad data - such as inaccurate contact information or duplicated leads - is the main source of wasted sales time and lost sales opportunities.
How bad CRM data affects sales performance
Do your Sales reps face the following challenges?
Difficulty finding (the right) data
Salespeople spend up to 30% of their time searching for or creating CRM content. Inaccurate, misspelled, or poorly entered record data frustrates Sales reps and reduces the amount of time spent on actually engaging prospects.
Incomplete customer information
All data is not created equal. Incomplete records prevent Sales reps from obtaining an accurate view of their customers, causing longer and less effective sales cycles.
Duplicates are the most harmful type of bad data sitting in your CRM. They create ownership conflicts, scatter critical information, distort reporting, waste expensive time and negatively impact the bottom line in more ways than any other CRM data problem.
3 data strategies that can quickly boost Sales performance
1. Consistently evaluate the state of your data
Frequent data quality checks are critical in discovering the flaws or weaknesses in your CRM. 88% of enterprise companies feel inaccurate data has a direct impact on their bottom line.
Knowing how much customer data is duplicated or missing - and where it’s hiding - will allow you to anticipate its future impact on CRM and avoid the negative effects on your Sales efficiency and revenues.
2. Don’t let duplicates spin out of control
A data cleansing tool can efficiently find and remove most duplicates in your CRM, but marketing campaigns and sales activities will quickly generate new ones. For example, many duplicates are inadvertently created when Sales converts a lead.
Enhance your duplicate management strategy with a prevention mechanism - start by managing common duplicate entry points such as manual record creation and lists imports.
3. Make CRM data easier to find
Give Sales reps the ability to find what they are looking for, fast. Reducing CRM search times and providing more relevant search results will increase time spent on sales related activities.
Even if your system contains duplicated or inaccurate data, quick access to all CRM data will also prevent Sales reps from creating additional duplicates.
Provide your Sales team with the foundation they need to generate better results by fixing bad data in your CRM.
How much revenue are you losing to bad data? Evaluate the current state of your data with our free assessment, the Data Quality Report.
Need guidance with specific actions you can take to improve your data quality? We’re here to help!