Data decay happens all the time because of continuous changes in mergers, email conventions, acquisitions, government norms, new offices, job role changes, new recruitments, etc. Often, the marketing team uses CRM data to send email campaigns to the target companies. However, a lot of emails bounce, and most of them get undelivered. When your salesperson calls up a lead from a CRM, you get the response that “the person has left the company”. It can cost you a fortune in terms of time, money, and effort. Surprisingly, as per the market research stats, “70% of your CRM data goes bad in one year, which is 6% every month”. Therefore, CRM data needs to be updated and refreshed as recent as the week it is being used.
Moreover, when it comes to CRM data refresh, simply having a CRM system does not ensure high-quality data. It is a continuous process of auditing that helps to improve your account-score model and enables you to stay at the top of every change happening around your CRM data. In today’s data-driven sales world, data enrichment and cleaning play a key role to boost the ROI of the organization. That is why you need to ensure that your data is accurate, up to date, and reliable because the quality of the CRM data collected impacts the entire organization.
We all know that maintaining and updating CRM data can be quite critical. However, it can be pulled off by leveraging sales intelligence experts. With their deep domain expertise, you can target more relevant prospects through refreshed and enriched CRM data. It will work as a catalyst for your account-based strategies and will generate more business revenues through actionable & revenue-ready B2B data.
Practicing CRM data refresh in the organization by leveraging sales intelligence experts has many other benefits. It is a treasure trove that can give you access to more customers and ultimately, better business by:
1. Customer Segmentation
2. Mapping opportunities and nurturing leads
3. Aligning the efforts of Sales & Marketing teams
4. Allowing overall better decision making
5. Making information available to multiple teams
6. Improved communication
Companies that don’t practice CRM data refresh would forfeit their rise in respect of reach-outs, conversion rates, lead generation, longer sales cycle, etc. They end up with a loss on ROI and data compliance risks. Fortunately, if you want to make the most of your CRM, you might want to consider the expertise of sales intelligence professionals. Undoubtedly, it will boost the sales and marketing efficiency of the organization.
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