Chances are your business is buried in too much data. More specifically, you likely have ever-growing information about your customers, contacts, performance, etc. living in your CRM.
Don’t worry, it happens to all companies no matter the industry. After all, data collection is crucial to uncovering insights about your customers and prospects in order to help you reach out to them in a more targeted and effective way. But bad data is a costly dead weight, costing U.S. companies $3 trillion a year, according to IBM’s study.
30% of your company data becomes outdated every year
You can’t trust the data your CRM contains if it doesn’t bring any value. So, what can you do?
Clean Your Data
It’s a good idea to clean out your HubSpot CRM regularly, removing any irrelevant, outdated, duplicate or inconsistent data that’s causing waste within your company.
Start by looking at your contact list. Scan for any duplicates and delete contacts that have a high bounce rate, low engagement level, unsubscribed or fake entries. In the end, you’ll want to keep the contacts that have recently engaged with you, whether they’ve opened your marketing email, converted or replied to an email.
Another thing you can do is establish how you and your team should input data into the CRM. When new contacts are created, setting property fields according to titles, roles and industries with specific words will help create consistent data and structure for your team.
The tidier the CRM, the more valuable data and reliable insight it will provide your sales and marketing teams.
Check out the steps to a data cleanup here.
Improve business efficiency
Keeping a clean CRM database definitely has its benefits. Good data allows you to have the highest quality customer information in order to help you get the most out of your sales and marketing efforts. This also ensures your team stays on top of every sales opportunity with the most accurate data, without having to plough through countless outdated information.
Last but not least, clean data reduces unnecessary customer acquisition costs that can creep out of the woodwork.
Not a One-Time Project
Having a data-driven approach is a strategic imperative for businesses old and new. It drives competitive advantage, growth and sustainability.
Usually, businesses turn their attention to data cleaning when they implement a CRM for the first time or move from one to another. Remember though, CRM data doesn’t have a long “shelf life” which is why it’s important to check in on it once in a while to ensure you’re getting the most accurate information for your daily business operations.
Moving to a new CRM or data cleaning can be overwhelming, but it doesn’t have to be. We help our partners onboard to HubSpot using best practices to increase database ROI and achieve their specific business goals. To learn more about our services, visit our page or drop us a line!