Poll: Who is Responsible for Data Quality in Your Organisation?
Poll: Who is Responsible for Data Quality in Your Organisation?
Forresters’ recent "The State of Customer Analytics 2012" report revealed that the vast amount of customer data now available to organisations is making data management, quality control and integration very challenging.
Spend on data management and analysis has been growing faster than the budgets allocated to creative and integration. That’s because we all know that without the right contacts to send it to there’s not much point in doing any of the other stuff. Follow these tips for cleaning up your data and you’ll see your campaign results transformed.
As tedious as database housekeeping undoubtedly is, it’s a chore that really can pay dividends. Did you know that 14% of job titles submitted in forms are fake? Regular checks and culls of your lists can weed out the ignorers and the fakers and ensure that you’re communicating with the people that are more likely to engage.
Once you’ve got it clean then you need to get it consistent so use:
Making and sticking to these rules can not only help you keep your data clean; it can help you segment your lists more effectively as well, so you get better results from your campaigns.
Your lists are now clean, consistent and delivering results. To keep them that way you need to put in the maintenance time. Allocate responsibility or quality will slip again. Capscan’s 2012 Data Quality Insight report revealed that in the organisations surveyed, 10 different roles were cited as including responsibility for data management. So no-one was doing it as they all thought somebody else was!
Poll: What do you think would be the greatest benefit of using CRM to increase data sharing with your sales team?
Here are a few common views of CRM:
“CRM, or Customer Relationship Management, is a company-wide business strategy designed to reduce costs and increase profitability by solidifying customer satisfaction, loyalty, and advocacy.” - DestinationCRM.com
"In cases we have reviewed, sales increases arising from advanced marketing and sales information technology have ranged from 10% to more than 30% and investment returns have often exceeded 100%." – ‘Automation to Boost Sales and Marketing’ (Harvard Business Review)
“True CRM brings together information from all data sources within an organization (and where appropriate, from outside the organization) to give one, holistic view of each customer in real time.” – DestinationCRM.com
You can automate:
…direct from the CRM at the Sales end of your company pipeline.
Automated paperwork. So what?
Having data piped direct from the sales team allows you to:
Marry finance and sales with CRM for:
Increased customer satisfaction allows your business to benefit from:
Getting Sales and Finance dancing to the same tune means that:
A good, company-wide approach to CRM benefits everyone, not just your sales team. So get on your dancing shoes and enjoy the benefits!
“Once sales and finance are on the same system with a 360 degree view and a shared Opportunity to Cash process flow, everyone gains a holistic customer perspective and can work efficiently as a cohesive team, appearing as one company to the customer.” – Jeremy Roche, BusinessComputingWorld.co.uk
CRM provides much more than just a way of storing contact details.
“One of the key elements of any CRM plan is integration, the unification of all your company's data sources to create a single, holistic view of each customer.” — DestinationCRM.com
Going naked — that is, shedding opaque processes to move to a more transparent CRM system — could be the shrewdest business move you make.
What do you get for your nakedness?
“Business processes that were driven by departmental efficiencies will evolve to serve company-wide needs instead.” — Gautam Parasnis, IBM BCS.
“Information silos are more than just inefficient, they hinder a company's ability to serve customers and succeed with its strategy. Without a unified view of the customer, marketing, sales and service/support departments will all be working in the dark, chasing goals that don't fulfil the organization's broader ones.” DestinationCRM.com
Use Cloud CRM software to empower your call centre!
A report published recently by Convince and Convert revealed some startling figures on customer service. These should make any business owner sit up and take notice:
These statistics may deal mainly with contact made via social media, but they reflect a wider trend: more and more customers demand immediate support whenever they seek it.
All very well and good, but how is it possible to implement such a system, which is cost-effective, allows you to operate around the clock and is amenable to customers?
Exacting customer demands require a dedicated commitment to the customer and their needs. If the customer is not the focus of your business, it will be impossible to provide the highest levels of service they call for.
Empowering call centre operatives to make snap decisions, offer replacements or discounts to appease unhappy customers is expensive right? So it makes sense to let the troublesome clients go elsewhere next time. They are just too costly to keep on board. Except that:
If your business can boost response times and give the necessary authority to call centre operatives to resolve customer issues, the rewards are significant. In fact, they are too big to ignore.
Does your business have the culture and the software required to resolve customer issues quickly? Do you have a CRM system which allows you to retrieve pertinent customer information quickly, providing the basis for great service? No?
CRM isn’t difficult if you follow three simple rules. A — Acquire, B — better, and C — Capitalise.
Customer Relationship Management (CRM for short) sounds complicated but, with the right software platform and company ethos, is actually as easy as ABC. Or at least it should be.
To grow your business, you need customers. The perfect CRM system will help you log contact details for leads and record every single operation from incoming lead to customer.
"Over 80% of generated leads are never followed up on or are dropped or mishandled" - Aberdeen Group
“50-70% of the buying journey is being completed before a prospect engages with a sales representative” - Bob Thompson, CustomerThink.com
As you interact with your customers, make sales and resolve problems, your CRM system allows you to record the details. Use this information to become better.
Better at service. Better at selling. Better at all the steps in your sales and service pipelines. If you do everything better than before, and better than your competitors, your clients will become repeat customers.
Acquiring a new customer costs between 6 and 7 times as much as retaining an existing one. The data stored in your CRM system is a goldmine of useful information which will help you identify new opportunities with existing customers. Capitalise on existing customer relationships for a better return on your time and effort.
“It is 6 to 7 times more costly to acquire a new customer than retain an existing one” - Frederick Reichel, Bain & Company
"In cases we have reviewed, sales increases arising from advanced marketing and sales information technology have ranged from 10% to more than 30% and investment returns have often exceeded 100%." - ‘Automation to Boost Sales and Marketing’ (Harvard Business Review)
The world of work is changing and UK businesses are at the forefront of the flexible working revolution.
Gone are the days when every business professional did all of their work in the office, at their own desk with a dedicated PC. UK businesses have already introduced more flexible working policies than any other country and a survey of 1,000 CIOs has revealed that the growth isn’t over yet:
Flexibility around working patterns and locations is becoming a prerequisite for professionals. If businesses want to be able to employ the best talent, they need to fulfil these needs. To do so, they are relying on Cloud-based applications to give their staff access to the vital tools they need no matter where they are. Those without the right Cloud solutions will see productivity suffer and their companies become less attractive to the talent they need to keep them successful.
Research from the Cloud Industry Forum (CIF) carried out with 250 UK businesses found that 61% are currently using cloud-based services with a 92% satisfaction level. CRM is one of the fastest growing sectors within the SaaS space and the adoption issues that it has traditionally been plagued by are being overcome by business professionals needing to access information when out of the office and finding that the CRM system is how they can do it.
It’s not just the way that people work that has undergone a revolution in recent years, either. As CRM systems have moved to the Cloud, they’ve grown up. No longer just a management reporting tool, today’s CRMs can be used to manage all business processes, from marketing through sales to finance and customer service. These systems provide a whole customer picture alongside the tools needed to service them.
With the right CRM, businesses can now enable all of their departments to work flexibly and reap the benefits in so many ways:
As smartphones and tablets continue to rise in popularity, CRM has to adapt again to deliver all of that functionality safely and securely for whatever operating systems today’s busy professionals want to use. The right CRM partner can now provide tailored solutions to deliver the mobile CRM app your business needs. So if you haven’t gone to the Cloud yet - the right time really is now!
Sales and marketing should work closely, but sadly, 87% of the terms they use to describe each other are negative. The right CRM can bring their battle to an end!
“We generate leads, but sales don’t follow up”
“Marketing pass on leads that are not qualified”
Once you’ve ticked all those boxes you’re on the road to ticking the best ones of all.
Better lead generation, management, conversion and ultimately revenue.
CRM implementations are on the rise, but adoption rates are lagging behind; often, end-users cite ‘the system being hard to use’ as the reason.
You probably need to change your company culture... ask yourself...