Bad data leads to bad development decisions. We all know this to be true. Stats like 40% of businesses failing due to inaccurate data, and almost 30% of sales rep time wasted on bad data signal the dangers of bad data loud and clear. While poor data points are a bad actor in development data failure, data collection and processing are also at fault. And all three are a major trigger in Salesforce support.
Sales data is the necessary fuel for development outreach. If you’re starting with inconsistent, out of date, or just plain wrong data, you can bet you won’t be making any progress. Whether you’re converting leads or cultivating your customer base, data is the driving factor. Are you showing your sales data the care it deserves?
As we near the end of the year, it’s time to make resolutions to do better next year. One way your business can improve is through a fresh, new business development plan, starting with how you gather, store, and use data.
As a sales as a service (SaaS) provider, we’ve sold hundreds of products and services across many different industries. We’re brought in to tend to the particular needs of a given business, whether it be pipeline generation, sales management, or other aspects of business development strategy. Each client has its unique needs, but almost all have one issue in common: poor database health.
CRM and database management are critical to success. Data is the basis of all business development strategy – if you have garbage data, you’ll have garbage results. While a cluttered and seemingly disorganized desk may be a sign of genius, a disorganized database is a sure sign of sales calamity.
The difference between a clean and cluttered database can be more significant than you think. It’s about more than peace of mind; it’s about your bottom line. An Experian Research study found bad data can result in over 12% in lost revenue. In contrast, businesses with superior data management see lead generation jump 152% beyond the average.
How can you achieve these impressive results? See what you need to obtain and maintain a clean database and how an outsourced sales partner can help.
As the end of the year approaches, you might be wondering about the overall quality of your database. Companies today are looking to sales enablement technologies, analytics, CRM systems and learning technologies to make their sales teams more effective and more efficient. Businesses are considering cutting-edge tools that will make their team better. Something they often don’t spend enough time on that can make the most significant impact on a sales team’s efficiency is data.
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If your sales and marketing activities are going to run like a well-oiled machine, you’ll need fuel… and data is the fuel for any growing organization. When organizations have clean data, they can generate up to 70% more revenue.
To correctly complete any job, you need the best resources from the start. In sales and marketing, one of those resources is your database. This hub of contacts is vital for lead prioritization, outbound calling, targeted marketing, reporting and analytics, and more.
In short, a “good” database is foundational for success. But “good” means more than just having a large list of names, addresses, and phone numbers. After all, a phone book has that, right?
So, what constitutes the definition of “good” as it relates to a database?
