In budgetary terms, the cost of duplicate data is alarming. In simple terms, imagine the wasted costs of sending multiple catalogs to one person. In addition to the money spent on duplicate print and postage costs, there is also the potential negative effect on response rates and the overall ROI of your marketing activity.
To help reduce costs, businesses need to identify and prevent duplicate records from being entered into their database. This will provide the best position to maintain a healthy database and save money by minimizing wasted income on things like marketing costs and stopgap data cleansing solutions.
Lack of Single Customer View
It is difficult to view an accurate picture of customers and their behavior with multiple records for the same contact. With each interaction documented against different records it is challenging to view what communication has taken place and to determine any outstanding actions.
Poor Customer Service
Duplicated and inaccurate data affects every aspect of a customer relationship from service conversations to marketing and sales messaging. It is extremely difficult to understand a customer issue if there are multiple records and differing notes for each.
Decreased User Adoption
Poor quality data is one of the most common causes of low user adoption. Data confidence plays a key role in how employees use CRM business systems. Bad data affects morale because it is frustrating and inefficient.
Inefficient Business Processes
When employees lose confidence in the CRM because of inaccurate data, they can revert to using alternative methods. Using inefficient business processes limits growth.
Inaccurate Reporting = Less Informed Decisions
Decisions based on poor quality data are no more reliable and accurate as those made on assumptions. A database with poor data will impact your ability to make informed judgements about the state and future of your business.
The ability to effectively manage data and access information is an important component of your business structure. Give us a call today for a free, honest and unconditional discussion and we’ll be happy to help however we can.