Customer Relationship Management (CRM) Clean Your Bad CRM Data & Boost Efficienc

Posted by Xcel-Digital on January 22nd, 2020

At a Glance
  • Sales teams world over, rely on Customer Relationship Management (CRM) systems to drive sales force automation.
  • According to Gartner, one of the prime reasons why organizations have not been able to derive the intended benefits from a CRM system is due to bad data, also referred to as dirty data.
  • Only 15% of the companies are confident of the quality of their CRM data.
  • IBM Estimates that poor quality data costs US businesses .1 trillion per year.
  • Every 8 out of 10 companies surveyed reported that bad CRM data had a significant impact on lead generation campaigns and industry outreach.
  • A data quality initiative can raise your sales bar as high as 20-40% and you can cut down your IT cost by 40-50%.
  • Bad data in CRM not only causes greater loss in revenue but also places your brand reputation at stake possibly due to incorrect messaging, lack of targeted marketing etc.
  • This article talks about the importance of CRM data, its impact to your interactions with your customers and ways to proactively ensure clean data that can be of significant value to your business. The article connects the pain in your real-life and provides solutions to the practical problems we all face.

Why is CRM and its data critical for your business - An overview of CRM & Customer 360

Today's Customer Relationship Management (CRM) solutions are a lot more than just Salesforce Automation or Contact Management tools. CRM systems are being leveraged by most organizations to run their Sales force, Field Service, Customer Service, Project Service Automation, Marketing, Surveys, IoT, Telephony and Call Records, Emails, the list goes on..
CRM is now at the core of every aspiring company.Industry-leading CRM applications have the ability to capture and present a 360 degree view of all your customer interactions in real-time. Different departments within your organization can benefit from this single source of truth. Embedded Analytics tools assimilate data from different data sources such as ERP, Big Data, Social Media, Email interactions and aid in building this 360 degree view. It is imperative to plan for and include Data Quality Management (DQM) processes and tools while managing such critical data.
 

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Xcel-Digital

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Xcel-Digital
Joined: January 9th, 2020
Articles Posted: 10

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