Data & Your CRM: Are you prepared?


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New Age CRM’s are being heralded by enterprise level companies everywhere. Their consolidated approach is proving a much more highly profitable way of doing business. After years of dealing with dozens of disparate systems, unruly data, the madness of having to upload data via spreadsheets among other things, companies are now demanding that all of these add-ons become seamlessly integrated with their CRMs.

One crucial, but greatly overlooked add-on that should seamlessly integrate with every CRM, is data management. With the amount of complex data floating around, everyone needs a marketing data management system that ensures that the quality of the data is always up to par.

Why can’t companies manage their own data?

In our experience, at Acquiro, we have seen that most companies do a poor job at managing and fixing their own data. They either don’t know where to start, don’t have the tools or expertise or the time or they underestimate the complexity of the task.

However, there are a few steps a company can take to try to manage their own data. They can put controls on how the data is initially submitted, they can periodically inspect their data and make rudimentary corrections. They can also reward or punish team members that don’t follow the rules.
However, most companies probably need an outside marketing data management solution that can ensure their data is as accurate and up to date as possible.

Why do companies need a marketing data vendor?

Because it has been shown that bad contact data can cost a company up to 25% of their annual revenue. Costs accrue from lost time by sales researching missing data, by calls being mis-routed, by multiple team members calling the same clients, to companies not being able to properly segment from lack of data, to name just a few of the revenue sucking results of poor quality data.

Having a marketing data management solution in place, that seamlessly integrates with your CRM or sales system, will ensure that your contact is complete and accurate. Your sales team will no longer have to spend time researching missing data. You will also no longer suffer with duplicate contact records or sales members calling the same prospect. It will also increase the number of actionable sales leads you have. It should be an easy, not too expensive add-on, to every CRM.

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