A finely tuned and high-performing customer relationship management (CRM) system can be an irreplaceable asset to a business. It can mean the difference between a company properly leveraging data for truly understanding a customer’s wants and needs, or, alternatively, taking a blind shot in the dark; the difference between providing customers with a generic experience, or with a personalized one that the customer wants to repeat.
One way CRM systems can result in higher levels of customer engagement is through enabling businesses to gather and process customer data and generate the necessary insights into customer preferences – helping to drive personalized communication, be that via email, a telephone call, or inclusion in a broader marketing effort.
However, despite the enormous potential value a CRM may offer a business, it isn’t enough for a business to simply adopt a platform and expect to realize the benefits without some effort. If your data isn't of a high quality, if it's inaccurate, duplicative, or fragmented, then all ‘downstream processes’ and reporting similarly will lack the accuracy necessary for drawing accurate conclusions and deriving actionable insight.
The problem of low quality data is pervasive. As Forrester wrote in a report from earlier this year, "Poor quality customer information is often rampant in CRM and [this] inhibits rather than enables great customer relationships and business outcomes."
A recent study details the problem further. By analyzing Salesforce data and usage habits, Bluewolf found that while two-thirds of Salesforce users plan to invest in additional analytics over the next year, many face difficulties in leveraging data. Some said they don't have the in-house talent or tools to properly manage and visualize data, while others said they have been unable to overcome poor data quality or siloed data.
Attendees of Dreamforce 2015 will have an opportunity to address some of these data- and CRM-related issues head-on, and learn some of the best strategies for capturing and deploying customer data. By learning how to gain an understanding of what baseline data exists organizationally and then enriching that CRM data with other data sets (e.g. location intelligence) for a more “holistic” view of the customer, people attending will have an opportunity to learn how to get exponentially more out of their CRM.
Precision and context are essential for effectively leveraging your Enterprise data for generating insight into your prospects and customers and for getting a competitive edge. Learn more.