In theory, a dynamic platform like Salesforce should bring structure to the vast volume and variety of customer data flowing through your organization, and in doing so; provide your sales team members with the real-time insights they need to maximize value across all of their frontline interactions.
However, these advantages will be impossible to realize if the underlying data in Salesforce is incomplete, outdated, redundant, or simply inaccurate. These sorts of deficiencies are extremely commonplace across enterprise CRMs. According to a Gartner survey, poor quality data costs the average US company over $8 million a year due to lost sales opportunities, increased customer churn, misleading forecasts, and sub-optimal planning. If your sales team is failing to return the sort of revenues to expect, then your Salesforce data may well be to blame.
While improving your Salesforce data management seems like the obvious solution to these concerns, this is easier said than done. If we calculate the cost of correcting data errors, based on 1-10-100 quality management rule, then the estimated cost of fixing one dollar’s worth of errors in your system would be $10. If these errors actually cause a sales process to fail then recovering that amount would cost a further $100.
How We Help
At Scott’s Data, we take your Salesforce data quality extremely seriously. As one of Canada’s leading B2B directory providers for the past 60 years, we’ve supplied leading organizations in both the private and public sector with premium quality data on their chosen industries and markets. Our new Salesforce integrated app takes these capabilities one step further. With our business data in Salesforce, you can immediately import 100% verified information on your target audience in an instant. From there, you can match correct data to inaccurate or incomplete customer profiles with a few clicks. Our data is also updated in real-time with new prospects and current details, so you’ll always have the latest information at hand to drive your operational and strategic sales decisions.
The Benefits of High Quality Data
Improving your Salesforce data quality will have a sustained and widespread impact across your lead generation, prospecting, customer support, and service delivery processes. Segmentation and Prioritization
Once you’re assured of the accuracy and completeness of your Salesforce data management, you can start gaining a much deeper understanding of your customers. Our app provides users with in-depth information on the operating structure, sector, and location of each included business.
You can use these insights to split up your target audience based on size, sales territory, and industry. From there, you can monitor each of these segments to find out which products and services they purchase, where they currently fall in the sales funnel, and how they react to your sales and marketing efforts.
As you continue to track these trends you can begin to rank prospects and existing clients based on the revenues or potential profits they can contribute to your business.
High Potential Leads
An effective scoring system will also lead to more effective sales, as your CRM will reveal which leads are ready for a direct pitch, and which leads need to be nurtured further through emails, calls, and marketing materials. In this way, your sales team can ensure that they get as much value as possible from each prospect.
Effective Sales Planning
Accurate business addresses and industry information will help you to direct your sales teams in a more optimal manner. Instead of simply assigning your highest earners to the biggest clients, you can determine which team members are better suited to a certain client because of the areas they cover or the specific expertise they bring to the table.
Create Long-Term Customer Value
At a time when in an era where 69% of customers are willing to switch businesses due to a single negative customer experience, the value of great customer service can never be overstated. With accurate and up-to-date data in Salesforce, your sales team will be able to reference the relevant profile, and meet each client on their own terms according to the nature and scale of their business. You can also leverage our directory app, to locate key decision-makers at prospect businesses so that you can target relevant individuals who are actually able to take action after a great sales pitch.
