How easy is it to have good data in your CRM?


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Sales people want to sell - not create perfect CRM records. We can show you how B2B marketers are integrating external information into their CRMs, sorting out their data legacies and enriching their intelligence, so they can: target more effectively, deliver superior leads, identify key customer traits.

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  • Successful businesses are combining their internal data with external data to: 1. Sorting out legacy data2. Enriching knowledge 3. Getting significant results
  • This is the problem with data – In the last day 1,836 companies have had a change in their address. That’s 670,140 a year. In the last week – companies into receivership, liquidation, dissolved – 1,386That’s 72,072 a year. And each of these is only 1 field….
  • So how do we keep up?Bad data can really hinder a business.Paper published by Gartner in 2011 on the cost of bad data to businesses concluded that: 1. Poor data quality is a primary reason for 40% of all business initiatives failing to achieve theirtargeted benefits.2. Data quality effects overall labour productivity by as much as a 20%.3. As more business processes become automated, data quality becomes the rate limiting factorfor overall process quality.
  • The good news - Today it is easy to have good data in your CRM!
  • In the past organisations viewed internal and external data as quite separate entities. What we actually want is a successful merger of these in order to achieve greater results.
  • Numerous organisations have benefited from successfully integrating our external information with their internal data including the Institute of Direct & Digital Marketing. Clair Baumforth (Corporate Business Development and Partnerships Director) from the IDM has kindly helped us put together a case study with some useful quotes which will help you to illustrate how practical and straight forward this process is.
  • We create a link between your internal data and our external data. This way your own records are matched against the file from an external provider & crucially the unique identification number used by the external provider is linked to your own internal records.In this way not only are duplicates removed but also the addition of new records can be controlled.
  • The good news is you now have the basis of a successful data strategy as this matching exercise has on-going benefits – it’s not just for removing or preventing duplicates. Once a link has been established between your record in the CRM and the matched record in the external party’s database the two systems can talk to each otherYou open a gateway to any of the information that the external party holds and maintains for this record and for starters you can start to clean up some of your other basic data issues…
  • For example in an external solution, like ours, the trading status of a company is updated daily with data from Companies House and with daily publications called the London and Edinburgh Gazettes.  
  • Also, users who want to add new records to the CRM are forced to now use the third party’s company name index. Here we can also see this record already exists in the CRM as a lead – in SFDC terminology anyway.
  • You can also use the third party source to challenge the address fields you have.And finally having de-duped and cleansed the existing data you may want to look at enhancing what is left by adding things such as phone numbers, websites, and turnover or industry codes to records.
  • Lets move on to step2 - How these successful businesses are enriching their existing knowledge. Now you have a link to a cloud based information source that is effectively managing data on your behalf and taking away some of the painful (and frankly quite boring) day to day issues Having done the painful bit we now open the door to a large amount of additional information that will help both the sales and the marketing teams and we see companies with these links in place becoming more strategic in the way they operate.They want to understand their clients and markets better. They want to know more about the businesses they are approaching or already work with and try to identify key customer traits.And they want to use this data to present in the environment in which they already work which the links now facilitate
  • In this external platform they can segment their clients how they want, for example to look at your current client list by size or industry sectorThen they can use this information to find more companies like the ones they’re successful with
  • Having identified ideal prospects, you may want to bring in additional prime prospect data into the CRM to drive the next campaign & to arm the sales team with quality leads.
  • Salespeople can now also understand organisations prior to approach.They may want to look at an overview of a company which saves them spending half an hour on Google, and they may also want to understand how big a company is to get a feel for the size of the opportunity….
  • Having found and understood a relevant company the obvious next question to ask is who do I talk to and very often external providers can help by presenting data on key contacts within the business, and clearly from a marketing standpoint it helps maximise the response to campaigns if they are aimed at the right contact in the first place.
  • One particular good example we often see companies use is key intelligence around corporate links and ownership.Opportunities in the corporate group
  • This intelligence makes marketers popular with their sales teams because rather than tenuous leads they get qualified targets that are not only in the right space but are large enough and profitable enough to afford the solutions they are selling. And there are lots of other examples…I.e.Financial year end
  • The finance team are also happy because they are prioritising companies with a strong credit score – so they’ll be able to pay. 
  • And, because these external databases are updated with business critical data all the time – you can use them to find sales triggers.This means you can monitor your chosen companies using your chosen criteria. If a company record is updated with a relevant bit of data, it can trigger an email alert to you or your team. This e-mail brings that "hot" company to your attention and to the top of your priority list. The most common alerts we see our clients watching for are forcompanies with new financial data or companies who had a change in directors,and companies with a change in ownership after a merger, acquisition or similar. Companies in the news…These events can all mean more opportunity for you. And it’s all about finding opportunity.
  • How easy is it to have good data in your CRM?

    1. 1. Today it is easy to have good data in your CRM! Dan Yamoah Account Director
    2. 2. Successful businesses use data to: Sort out legacy Enrich knowledge Get results
    3. 3. The problem with legacy data….. Companies with an address change in the last day 1,836 Companies into receivership / liquidation / dissolved in past week 1,386
    4. 4. The problem with legacy data….. Duplicate Data Stale Data Joe Bloggs Limited • Original record Joe Bloggs • Duplicate record Inaccurate Data Job titles we’ve seen: • Moved to a new part of the business • Glorified Consultant
    5. 5. How do we keep Up?
    6. 6. Today it is easy to have good data in your CRM!
    7. 7. Internal Data Successful Marketing External Data
    8. 8. 1. Sort out legacy data…. “We had a lot of data (50,000 records) – something I am sure we share in common with all our members.” “We wanted the data cleansed to remove duplicates by combining records” “We wanted to find a scalable solution that would help us manage and segment our data”
    9. 9. Create a link …. Internal data Common Identifier Externally managed data
    10. 10. Legacy data: Remove “dead” companies….
    11. 11. Legacy data: Manage new entries….
    12. 12. Legacy data: Check your address…
    13. 13. Step 1 complete! “You took a problem I had been having for a while and made it go away. The data of 50,000 records, was cleansed within three weeks. We had previously calculated that this process would take us at least six months to achieve manually, so this was of huge benefit.”
    14. 14. 2. Enrich Knowledge “We wanted to segment data into audience types, based on how they had responded in the past.” “We wanted to be able to run campaigns aimed at bringing back people that had previously unsubscribed”
    15. 15. Enrich Knowledge: What does my ideal client look like?
    16. 16. Enrich Knowledge: Plan campaigns
    17. 17. Enrich Knowledge: Overviews & financial Profiles
    18. 18. Enrich Knowledge: Relevant contacts
    19. 19. Enrich Knowledge: Group opportunities?
    20. 20. Step 2 complete! “We are creating much more concise, targeted campaigns which should deliver much better results”
    21. 21. 3. Get results “We wanted to break down campaigns to ensure we are targeting the right people with the most relevant message.”
    22. 22. Get Results: Deliver quality leads Leads are appropriate… Timing is right
    23. 23. Get Results: Filter by financial health
    24. 24. Get Results: Monitor for sales triggers
    25. 25. Get Results: Lead management… • Prioritise • Allocate efficiently
    26. 26. In summary…. Step 1: Sort out legacy data
    27. 27. In summary…. Step 2: Enrich Knowledge
    28. 28. In summary…. Step 3: Get results
    29. 29. Today it is easy to have good data in your CRM! “We can’t believe it was so easy to get where we needed to be.” “Campaigns are smaller and therefore cost less, which in turn means we can do more with the same budget.”
    30. 30. Stand: C28