Data Decay: Why Your CRM Data SUCKS

If you like this presentation – show it...

Slide 0

DATA DECAY DECAY DATA CRM DATA WHY YOUR SUCKS IF YOU'VE HEARD ANY OF THESE COMMENTS... YOU HAVE A CRM PROBLEM Wrong phone number The data is old The company was acquired The emails don’t work Wrong title My CRM data sucks I have duplicates I just called someone who’s been dead for a year IF YOU UNDERSTAND THE WHY, YOU WILL BE ABLE TO... Be informed when choosing a vendor Have a deeper understanding to the nature of the problem Understand how your CRM decisions effect data Remove unrealistic expectations Define best practices to minimize bad data Help you be an advocate for change management So what is the why? SHORT ANSWER CONTACT DATA DECAYS LONG ANSWER 4% per month Data Decay rate 36% per month 1,200 Data Decay rate 20% new accounts per year 36% decay rate of your data is already bad 432 bad records If each deal is worth $10,000 that’s $4.3 million in lost deals WHY DATA DECAYS 30 minutes The National U.S. average of a job length is 54 months 75 phone numbers change every 30 minutes Change in title or promotion 1 Change of phone number Change of department Update your CRM contact data every 60-90 days 1 2 4 Change of area code THE SOLUTION Use tools & automated programs to keep data fresh 2 3 Merger or acquisition THE COMPLETE DATA QUALITY GUIDE Work with data experts to stay on top of your data 3 Change in working location For CRM and marketing automation solutions bit.ly/Data-Quality-Guide Accelerate revenue through smart data

Slide 1