Improving the Quality of Your Customer Data with Your CRM


CRM Integration's Improvement on the Quality of Your Customer Data

Dirty data rank as one of the biggest business problems within B2C and B2B applications. In today's technology-rich world, decision-makers now have options for integrating a Dynamics CRM eCommerce Platform and other business applications to improve customer data accuracy. Bad data is always a problem for any company that uses ERP or CRM software to manage and market to their customers. One solution to the problem is getting customers to verify their own data by syncing manual entries with the company's CRM system. 

Bad Data Results in Backfires

Inaccurate data contain lots of misinformation. Some information is outdated, some mistakes are caused by entry errors and some inaccuracies come from duplicate and triplicate entries made at different times. Data problems include these eye-opening statistics: [1] 

  • 20 percent of physical addresses change each year
  • Every hour, 11 companies change their names, 41 new businesses open their doors and 58 businesses change their address
  • 66 percent of employees change their job status each year, which affects decision-makers in committee buying
  • 18 percent of phone numbers change yearly
  • 21 percent of companies name new CEOs each year

Companies not only have to keep up with the Joneses but also need to update their records of the Jones's addresses and other particulars. These stats should worry any marketer or service manager who depends on the accuracy of internal data to do their job well. 

How to Improve Customer Data Accuracy

The key to accurate data is integrating Microsoft CRM eCommerce software into the company's front-office platform (website, portal, storefront, marketplace, etc.). According to one study, 25 percent of company databases are inaccurate, and 60 percent of companies rank as unreliable for data health. [2] Integration ensures that the latest data values are collected, verified and integrated with existing database information. 

Integration automates processes such as leveraging the master data abilities of CRM software and merging information to create a master file that can be disseminated throughout a multiple-domain sales platform. Integrated systems send information everywhere it's needed automatically, which overwrites any existing bad data. Clarity Connect is our integration platform that we use to integrate the many different back-office applications (ERP, CRM, HER, etc.) with your web properties to accomplish this.

Adding Relevant Information and Intelligence

Once information is verified and an accurate profile is in place, new information can be added such as social media insights, business intelligence, buyer behavior and other data to build a 360-degree view / profile of each client or partner. 

Validating New Information

The most important step for ongoing data management is validating any new information. Your Microsoft Dynamics CRM eCommerce Platform can handle this step easily when the platform is fully integrated. If desired, data values can be verified by rules that the company sets, and the information remains outside the firewalls until it has been vetted. 

Integration also validates and cleans up fields that can generate inaccuracies (through automation, or by having clients update their own phone, email, address, etc.). These mistakes include empty spaces in data that could affect how other applications read the records. Cleanup can identify any missing data that need to be collected, and an integrated system will work to fill in those blanks as quickly as possible. Integration reconciles the problems of email addresses that use upper and lower case letters, which can throw off accuracy. 

Strengthen All Business Operations

Data drives marketing success in all areas of business. That's why clean and accurate data is so important. Unfortunately, data decay is a very natural part of B2B processes. One study uncovered the following data-related insights: [3] 

  • B2B companies usually have hundreds of thousands of records
  • 67 percent of companies rely on CRM to segment and target customers for marketing purposes
  • Customer databases tend to double in size each year
  • About 94 percent of company decision-makers fear that their data is inaccurate
  • B2B companies experience a 30- to 40-percent turnover rate each year, which renders significant existing information obsolete
  • Companies report that 80 percent of lead generation and qualification are negatively affected by inaccurate data
  • About 40 percent of business goals are never reached because of poor data

Improve Data Quality with Automated Processes

Trying to improve data quality manually quickly becomes a demanding and nearly hopeless endeavor that's similar to Sisyphus pushing a rock up the hill only to have it roll back down when he nears the summit. While IT staffs try to fix data decay, a host of new data is ready. Real-time and Batched Integration of CRM and other business applications and data sources automates many business tasks such as collecting information from every area of the company website, other sales platforms, social media and business intelligence. 

There's no need for making duplicate entries or verifying information manually when Clarity Connect can fully integrate your entire platform (set of back-office apps with web properties). Staff only needs to enter information once, or customers can enter their own information, verify it and send it to the CRM system. That kind of convenience can streamline every administrative task while providing a great deal of self-service access to customers, which generates a superior user experience, which we know studies have shown to increase retention and conversions. 

Validating Your Development Partner's Qualifications

One critical step that must be done manually is finding a development partner to integrate CRM and other business applications into your platform. You should find a developer willing to collaborate with your staff, incorporate suggestions, listen actively and provide training so that your staff can take full advantage of the benefits of accurate data and full CRM integration. Clarity has done thousands of integrations, automating business processes across hundreds of different CRMs, ERPs, data sources and more. Give us a call, and let us show you how Clarity Connect can be used to improve the quality of your systems’ data.

References: 

[1] Blog.reachforce.com: 6 Quick Dirty Data Stats 
https://blog.reachforce.com/blog/6-quick-dirty-data-stats 

[2] Funnelholic.com: The problem of dirty data and why every sales and marketing leader should care 
http://funnelholic.com/2013/09/16/the-problem-of-dirty-data-and-why-every-sales-and-marketing-leader-should-care/ 

[3] Blog.zoominfo.com: 36 Statistics: The Consequences of Inaccurate Data 
http://blog.zoominfo.com/the-effect-of-dirty-data-on-roi/