Best Practices for Customer Data Management

Author: Niranjan Petkar

Customer data management... what is it? Why do we need it? Is there a right or wrong way to use it? Simply put: it is important because, and YES! Many times sales teams are dealing with potential, forget the conversation, and become a lost lead. We are people, of course we forget things from time to time. So how can we fix this? And what are the real answers to these questions?

What is it?

Customer Data Management (CDM) is the process of collecting, analyzing, and managing customer data for a specific organization.

Why do we need it

CDM enables organizations to solve customer problems and provide solutions. Today, the customer experience is a huge factor when deciding to buy a product, use a service, or both. Customer management software tools help us implement CDM in organizations.

Is there a right or wrong way to use it?

Absolutely! To customize salespeople, teams, and managers, companies are deploying a variety of customer relationship management software to manage customer data. These best practices can help you figure out how best to use CRM systems in your organization.

1. CRM Best fit

With all the CRM software companies opening up, how can you decide what is best for you? Doing extensive research on each data management platform and being able to answer these four questions will take you in the right direction.

  • What do you need for CRM?
  • What are you going to achieve?
  • What problems does this solve?
  • What processes can be automated?

Based on the answers you give to those questions, you should have an idea of??which forum might work best for you. Some other useful tips include:

Find a CUSTOM CRM

Everyone's process is different. Make CRM dashboards right for you. Likewise, you want flexible CRM that grows with your business and is able to adapt without you having to jump on board.

Select CRM, which is MOBILE

Travel your sales force? This is essential for users on the road. From phones to tablets and laptops, make sure CRM is easy to read on all devices.

Make sure the CRM you choose has the REPORTING you want

CRM functionality is essential to meet your needs and provide the analysis you need. Choose a CRM that has the ability to customize reports based on unique data.

2. Data management / responsibility

The people who have control over your CRM are crucial in keeping consistent information about each customer. Assigning responsibility to one group or person limits the errors that can occur when importing data. If proper precautions are not taken, you run the risk of processing multiple non-common records, which can lead to consistent information.

Let's talk about the features of Infusionsoft, for example. Suppose you import a list of 600 contacts into CRM. Typically, you group these contacts or mark them with specific categories with Infusionsoft. What if someone who is unaware of these categories imports your contact information without adding tags / categories? Well, fun to mark 600 contacts separately! Communication and understanding should be in place before changing the system.

3. Quality / quantity

How much information is too much data? This question cannot be answered by number. Make sure the information in your CRM systems is an opportunity you really want to reach. Deploy your CRM system for a process that seeks to improve the quality of the amount of data. Companies that focus on the usability of the information contained in their CRM are able to focus their priorities. Follow these simple guidelines to make sure your numbers stay relevant while your quality stays high:

Determine what information is important to your business

Find out how best to save - without cluttering fields with useless information

Stay up to date on data tracking and cleanup

4. Data monitoring / cleaning

Real-time data is difficult to obtain, which makes the importance of data cleanup crucial. When you configure CRM, also determine the system for when and who goes through your information. Whether it’s a team or an individual, monitoring data cleansing on a monthly or bi-monthly basis brings a more effective CRM.

Updating access points or checking the status of their work may be some things to look for when clearing your data. Here are some other simple hackers to keep your information fresh!

  • Name - uniform design.
  • Address - keep your contact address up to date.
  • Job titles - has your contact been promoted? Switch companies? Keep this information relevant.
  • Notes - keeping track of who they are, your conversations and their goals had helped the conversation move forward.

5. Training

Looking for a way to make your employees productivity heaven? Many CRM systems have features that can guide and reinforce your skills in how your sales team treats potential customers. Platform training is important for employees to understand the reports and make accurate decisions based on the analysis of the reports. Even low-budget companies can find financial training for their employees through online courses. Some CRM software companies provide training at sign-in.