(Optimizing your CRM data is the need of the hour)
Customer Relationship Management (CRM) systems are very important tools to have in any organization’s arsenal.
They offer a great way for companies to communicate with their customers and create sales and marketing strategies that revolve around customer interests.
The number of communications and interactions with customers will only increase in number and frequency as your company grows.
Now would be a good time to think about managing and organizing your CRM data.
A company that recognizes the importance of data management early on will have the benefit of being able to identify and seize opportunities on a regular basis.
They will be able to offer a better customer experience which translates to more sales and upselling.
The opposite is true for those companies that will start to stagnate because they didn’t have the foresight to invest in their data management.
“Business, more than any other occupation, is a continual dealing with the future, it is a continual calculation, an instinctive exercise in foresight.” – Henry R Luce
In this blog, we will look at the five most common CRM problems and their solutions with your CRM data.
Table of contents
- Five most common CRM Data problems and solutions:
- Better data management = Better customer experience.
- Advantages of quality data.
Five most common CRM Data problems and solutions:
1. Incomplete Data entries
This is one of the most common CRM data issues that come up when you open your dashboard. Incomplete entries like missing emails, names with missing titles, and unlisted phone numbers.
These mistakes and omissions can effectively hamper a great marketing campaign for your product or service.
Solutions:
- Train your sales, marketing, and customer service teams to make sure that they collect all pertinent data from a customer during a transaction or an interaction.
- Teach them to input/update only complete data.
- Integrate purchasing, orders, and invoices with your CRM system to create a complete customer profile.
- Check that your CRM system is configured properly to capture data from multiple sources.
2. Outdated or redundant data
Old data in your CRM system is another challenge in CRM data maintenance.
The redundant data will adversely affect your marketing efforts when you send out newsletters and emails to defunct addresses.
Solutions:
- One way of fixing this CRM Data issue is by confirming and updating customer data when you’re in direct contact with a client. For example, if your service team comes in contact with a customer they can quickly reconfirm the customer data.
- You can hire external services to scrub and clean your redundant data. These services cross-reference your database with other reputable database sources and update the information to your database.
3. Not creating enough new prospects
Remaining stagnant by not generating new contacts and interacting with the same customer base is an important challenge in CRM Data management for organizations.
A good CRM system will help you to keep in touch with your current customers and not generate new ones.
Solutions:
- Create new customers by coming up with new strategies in sales and marketing.
- The cycle of incomplete and outdated data trickles down to this CRM Data issue. Making sure that the customer data is valid and true will help marketers to reach out to more customers and expand the database.
4. Following Data compliance norms
Data breaches have raised grave privacy and security concerns regarding data protection.
Different countries have their own policies regarding the protection of private data.
Non-compliance with these policies could lead to legal actions.
Solutions:
- Start adhering to the EU General Data Protection Regulation (GDPR) norms.
- The GDPR is a ready policy that you can use for your company’s customer data policy.
- Update your Staff on the GDPR norms through training and workshops.
5. Not knowing the full potential of your CRM system
Not knowing the features of your CRM system could lead to CRM Data issues. Some organizations are unaware of their CRM system’s full potential. The reason for this could be due to a lack of proper training, a steep learning curve, or both.
Solutions:
- Have an understanding with your CRM provider to conduct refresher training and workshops.
- Have an onboarding process for new employees where they get to learn about the company’s CRM data management system.
- Evaluate the technical experience of your team then train and retrain Key persons who will be working with the CRM Data.
Better data management = Better customer experience
Data plays an important role in the experiences of the customer throughout the customer’s lifecycle.
Whether they are new to your product or service or have been with you for years, data affects your capacity to interact with them about issues that they care most about.
The better the quality of your data the better the customer experience.
Advantages of quality data
Higher-order values
Quality data lets you upsell products as you can predict what your customer would be interested in.
Improved customer loyalty
Qualitative data ensures that you understand your customers needs which will make them stay loyal to you.
Increase in word-of-mouth referrals
Loyal customers are more likely to recommend your products or services to friends and family.
Improved brand awareness
Loyal and happy customers are more likely to share positive testimonials about their positive experiences with your company.
Increased repeat customers
Great customer experience translates into repeat customers. A win-win for any company.
At the core of any CRM system will be your customer relationship data and managing your CRM data is crucial for building trust between you and your customers.
Kapture can help you manage your CRM data and help you create a perfect experience for your customers.
To know more, book a demo here.
About the Author | |
 | Elvis Richard Cormuz |
| Elvis hails from Darjeeling and has had vibrant work life experiences – a musician, social worker and freelance translator/transcriber, his hobbies include music, movies and reading. | |
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