CRM-Solutions-Quality-Data-ManagementA well known research advisory firm Gartner says that CRM will be at the core of all digital initiatives in the next few years. In 2012 $18 billion was spent on CRM software, in 2013 the amount spent increased to $20.4 billion, and is predicted to grow every year. Businesses have understood that benefits of CRM Software enterprise solutions – include improved productivity, higher returns and hence business growth.

CRM software and solutions can be used efficiently for building better services, earning client’s trust and hence driving business growthCRM for pre-fabricated concrete products manufacturer, retail industry, health care industry, Banking and finance sector etc. can be seen as a growing trend.

What are The Characteristics of CRM?

  • Managing customer relationships:  CRM is a customer oriented solution and solely meant to improve the level of relations a company maintains with its customers.
  • Sales force automation: refers to automated tracking of client account history, and coordination of sales, marketing, retail outlets and call centers for better customer service.
  • Use of technology: refers to the data warehouse technology for aggregate transaction information and to merge information with CRM to derive key performance indicators
  • Opportunity management: allows businesses to manage growth well and use forecasting models via sales projection derived from sales history.

Consequently, what lies at the crux of customer relationship management is data. Data management is a continuous process; and if businesses lose hold over this process, it slowly but steadily plaques CRM and this in turn steers your business towards spending more on band aid solutions, and sadly - this does not help.

The Deadly Cesspool of Ill Maintained Data

As data becomes old, the perilous process of decay starts, and it becomes less accurate and more prone to errors.  It is the most organic and a natural process, and its repercussions on your business can be grave. Poor CRM data quality can affect your marketing strategies, sales plans and your business decisions.

The fact that nearly 50% to 75% of the marketed campaign success can be credited to well managed, accurate and high quality data itself, is proof enough as to why, data quality is placed at the top of the pyramid when we talk of CRM.

Handling customer data ethically and lawfully, is the first and the most important step of earning customer confidence and trust. When the data ages care needs to be taken to keep it updated and best for use, otherwise CRM starts crumpling. Without accurate and well maintained data, CRM cannot support any business activity, be it CRM for Manufacturing‎, Sales, Marketing & Customer Service.  As a result, with poor quality data not only does your CRM take a nose dive, but your reputation, client base and business all start going downhill.

Reviving your business from the abyss of poorly managed data

The cause or more aptly the root of this problem should be nipped. Here the root cause of your CRM going kaput is lack of data quality management. It is very important to set up a process for regularly checking the CRM data for errors.  Only then can your CRM solutions work to the best benefits of your company and help your business achieve new heights.

About Chirag Shivalker: Chirag Shivalker is a Head of Content Marketing Team at Hi-Tech Outsourcing Services. He is a seasoned Marketing Writer & Editor with extensive experience creating print and Web content across varied industries. His exceptional portfolio includes feature articles for trade and consumer publications, marketing collateral, press releases, and online content.