Why You Should Keep Your Key Data Up To Date

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Data is one of the most critical and strategic assets for any organisation. However, many are guilty of not giving their data the attention it needs. More than 25% of data within a given company is likely to be flawed, according to Gartner. Yet, understanding your customer well in the new digital age can give you a considerable advantage over your competitors. So ask yourself, can you afford to ignore your data? This blog will examine why you should keep your key data up to date.

  1. Streamlined communication
    Maintaining healthy communication with your team, customers and stakeholders will always be important. An up to date CRM will help you to improve your communications. With updated records, you can be sure that every communication you send to your customers is received whether via email, phone, post or social media.
  2. Understand your customers better
    Whatever line of business you are in, understanding your customers will always be important. You should see to it that you maintain good relations with your existing customers, communicating  with them at the right time, using the right message. By understanding your customers better, you can improve your customer support and improve customer retention rates.
  3. Efficient approach to digital transformation
    Recent global evens such as the Covid-19 pandemic has changed the way we do things, and maintaining digital records has become much more important. With more accurate customer records, you can ensure communications are received by your target audience.
  4. Better decision making
    Every record in your CRM can affect how you are making decisions for your business. If your data’s quality is poor, each inaccuracy in your customer records can impact the way you are managing your business. Inaccurate customer records can also impact the way you handle your customer support, which will definitely affect how your customers perceive your business.
  5. Improved Marketing Outcomes

Poor data quality dramatically impacts marketing efforts, with stale lists decreasing deliverability rates and increasing spam labelling. This can mean the difference between a successful campaign generating significant interaction and leads, and one barely reaching your target audience and creating engagement. Having high-quality data in your CRM is key to delivering positive experiences and increasing revenue.

With accurate contact information, such as validated email addresses, and data that is regularly cleansed and standardised, you have a much better chance of reaching your customers in a timely fashion with news, great content and offers.

  1. Improved Sales

Enhancing your CRM with clean data allows your sales teams to access information more easily, target prospects more precisely, and shorten the sales cycle significantly. Simple things like double-checking clients’ name spelling, updating their job title or updating a contact that has moved companies, can make a huge difference during the data collection process.

  1. Improved Productivity

A clean and up to date CRM boosts organisational productivity by ensuring that there is a single version of the truth that the whole organisation can access. All the information is updated and available universally. This aids collaboration and keeps everyone on the same page. Additionally, with regular CRM maintenance, obsolete data is removed from the system, which further contributes to the enhanced efficiency of business operations.

Conclusion

When the data stored in your CRM is disorganised, inaccurate, contains duplicates, or is incomplete, everyone loses. The teams trying to use this data — such as sales, marketing, or customer service — will be frustrated and may lose opportunities to close deals, retain customers, and deliver an excellent customer experience.

Ultimately, your bottom line may suffer from a CRM with ‘dirty data’ in the form of missed customer conversions, company reputation, and opportunities for revenue growth.

If you would like to discuss your business challenges and how ViewPointCRM can help your organisation, please get in touch with our expert team today or book a demo.

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