We have talked about how big data is beneficial for companies trying to improve efficiency. However, many companies don’t use big data effectively. In fact, only 13% are delivering on their data strategies.
We have talked about the importance of data quality when you are running a data-driven business. You need to know how to make it a priority when you are trying to manage a marketing strategy based on previous sales data.
Why Clean Data is Crucial for Data-Driven Businesses
Data analytics can be very beneficial for businesses. However, you need to have the right data to get the most from it.
Businesses collect data from various sources, including online surveys, social media, customer feedback forms, and third-party apps, resulting in inconsistent, duplicate, or incomplete data that can negatively affect business operations. Cleaning your sales data enables you to spot and eliminate these mistakes to ensure the information is free from duplicates, inconsistencies, and errors and is organized to make the information accessible and easy to analyze. Clean sales data offers multiple CRM rewards. Discussed below are five benefits of clean sales data in CRM.
1. Ensures sales and marketing teams work effectively
Disorganized or unclean sales data negatively impacts your sales and marketing efforts. Dun and Bradstreeet covered this in their article. Thanks to incorrect data, your business will have challenges identifying and engaging its target audience effectively. This may result in misdirected resources and marketing campaign efforts being wasted on poor-quality leads. Clean sales data ensures effective segmentation of customers and the development of targeted marketing campaigns with high conversion rates.
A clean sales system gives your sales representatives a complete picture of each lead and prospect, leading to more accurate lead-scoring initiatives. With the help of a data cleansing and management service from industry experts such as Pulsion, you can ensure clean, accurate, and complete data for effective sales and marketing.
2. Business revenue growth
Dirty data leads to significant business losses. Problems like inaccurate demographic information or lack of or incorrect customer data. Keeping your sales data clean can help reduce the effect of inadequate, incorrect, and incomplete data on your business finances.
Clean sales data comes in handy for customer relationship management by ensuring improved customer segmentation and more efficient customer targeting. This boosts customer response rate and engagement. Prioritizing clean sales data can help you generate higher ROI (return on investment). The quality of your sales and business connections also starts improving fast.
3. Better customer insight
Clean sales data can provide your business with better customer insights, which supports its ability to build a positive customer experience. With a clear picture of its clients, your company can enhance its:
- Sales strategies
- Customer service
- Marketing messaging
Better customer insights lead to marketing campaigns with accurate data, making connecting with the target market easier. When your sales data isn’t clean, correct, or complete, your analytics will deduce wrong conclusions regarding your customers. Your customer service can also be negatively influenced when customers and prospects get poorly targeted messaging. As such, you should ensure your customer data quality is top-notch to get optimal value from client analytics and insights.
4. Improved overall decision-making
Unclean sales data can result in inaccurate customer analysis and insights, leading to misinformed business decisions. Also, this data can negatively impact how each department in your company makes its decisions, from customer service to marketing and product development to sales. Basing your decisions on dirty data can end up costing your business more. Clean sales data helps ascertain that your business choices depend on accurate data, leading to better decision-making.
5. Reduced costs
Unclean sales data can result in increased business costs. Targeting low-quality leads and prospects with your marketing messaging leads to a waste of time and money, negatively impacting your bottom line. Clean CRM data ensures the expenses associated with your marketing efforts aren’t wasted, saving money.
Endnote
Clean CRM data comes with multiple invaluable rewards. Familiarizing yourself with the benefits of clean sales data in CRM can help you determine how worthwhile data cleansing is.