It was a vicious circle that seems to be never ending. I’m sure in 2020 for many organisations nothing has changed.
Back in 2008, I actually did something about the problem. I realized that if I spend a $1 to preventing data problems from beginning, it would save me $10 to fix it when the data came into Salesforce.com and $100 if the problem got through to the customer. The 1-10-100 rule ended up being my mantra.
There are three key steps to improving the ROI of marketing and improving lead conversion
Step 1/. Validate data before it goes into a CRM. At Data Laundry we validate email addresses, phone numbers, contact titles and roles, plus a number of other key criteria, to help you target better, and keep your data clean before it goes into your CRM as a marketing qualified or sales accepted lead.
Step 2/. Clean the data that is in the CRM. Dedupe your current Marketing Automation or CRM platform to remove duplicate records, or merge records to create one complete record. This can save you thousands per year in subscription fees on some CRM platforms, but more importantly, give you a clean data-set to support your sales & marketing efforts. This is an opportunity to apply data standards as well. We’ll discuss this further in further blogs, but by applying standards to your data, it improves the usability for both sales & marketing.
3/. Look beyond the response. Your lead form can only contain a limited number of fields to capture key information about the prospect, the more fields you have the less response you get. Data Laundry uses some cool technology to look beyond the response and find out more about your prospect. This additional information is provided back using ‘Fort Knox’ grade security, to give your sales team the full picture on the prospect and help reduce the sales cycle with a faster path to conversion.