Is The Quality of Your Data Keeping You Awake at Night?

By now, most businesses are aware how important it is to have a secure database which contains customer information; both dormant and prospect

With many businesses now adapting to a hybrid working model, the format and functionality of data is now more important than ever. Fortunately, the days of working on shared excel spreadsheets are long gone.

The benefits of investing time in your CRM.

The time taken to choose and maintain a user-friendly CRM platform for your business is an investment with almost immediate ROI.

Research tells us that even the most diligently completed and maintained database loses 25% of its efficacy in twelve months. With every touchpoint, user change or mis-save, this quality erosion increases exponentially. This is because all business data naturally decays over time.

Heather Davies, our Operations Manager, states that “in reality, data is only accurate on the day it’s created. It starts to erode at the same pace as the business evolves: often overnight!”

So why it is important to have good quality data in a managed format?

Using outdated or inaccurate data to support marketing campaigns or other lead generation activities is almost pointless and may also lead to breaches of GDPR.

Poor data quality also affects sales team motivation, especially when sales focused individuals see few results from their time investment. Good CRM is proven to improve employee engagement, but it also makes business more resilient, by centralising data which is access controlled and available for interrogation on almost any device or platform.

This data ‘chicken and egg’ approach incentivises your sales teams to keep the data held in CRM up to date: especially where effort can be seen in real-life rewards!

Above all, managing good quality data speeds up prospect profiling.

CRM isn’t just a glorified contacts list. Momentum’s CRM provides for the recording of every activity for each account, ensuring that all touch-points are updated and recorded in real-time.

When combined with external feeds, research profiling and telemarketing activities, your data will be ready for use in sophisticated marketing campaigns, for generating leads and building a valuable sales pipeline.

Do you think your data is good?

Poor quality data is pointless data. – Pointless data unnecessarily leads you to the wrong people at inopportune moments or worse still, wastes time and money whilst your team resolve to correct data errors.

Here are some common errors which may lead to data becoming pointless;

Incomplete data– Missing fields
Errors in data– Incorrect and misspelt contact data
Data incorrectly formatted– Data being put into the incorrect columns.
Old data– Out of date entries

Does thinking about this give you a headache?

Managing a database and overseeing its quality can be a headache: for any size of business. If you feel you don’t have the time and want your team to be focused elsewhere, let Momentum help you with your database and CRM requirements.

How can Momentum help you define your data?

Here at Momentum Partnership, our bespoke CRM database is built to support sales growth for businesses. We constantly manage, enhance, update, and cleanse data on a real-time basis which supports a wide range of sales activities and marketing campaigns.

Our services include:

Prospect Profiling
Sales Growth and Lead Generation (Including B2B Telemarketing and Email Marketing)
Customer Surveys and Data Qualifying
Content creation and management
Digital Media and Web Optimisation

Customer data is at the heart of our partnership. We can work on short data-based projects or build a long-term partnership with our partners to ensure we work together to achieve your goals, all underpinned by our own CRM platform.

Get some Momentum in your business today. Call us for a chat or drop us a line: we’re never too far away.

Is the quality of your data keeping you awake at night?