You know there are issues in your CRM. Every company has some “usual suspects” when it comes to CRM data errors — duplicate records, inconsistent data, formatting errors, and general data input errors — represent just a few examples.
You know that those data issues have an impact. You’ve seen the embarrassing mistakes in marketing automation — like the time that you imported prospect last names into the “First Name” field, causing you to send out an awkward batch of emails that awkwardly addressed everyone by their last name.
Or you might see the impact duplicates have on your sales teams, with reps often dedicating time to engaging with prospects that they don’t have a full context for.
But, if you’re like most, you probably underestimate the impact that bad data has on your business. It can be hard to assign an exact revenue figure to the impact of bad data on your company.
It really can’t be overstated. Every data error and mistake reverberates throughout the remainder of the customer’s time with your brand. Bad data causing issues in reporting can cause marketing teams to miss insights that could impact every campaign they touch.
A sales rep forgetting to log an important piece of information could eventually impact the way your customer success or support teams interact with that customer, causing an imperceptible downtick in effectiveness.
And that’s the problem for many companies. There is this perceived fuzziness regarding the impact of low-quality customer data.
“Why do I need Insycle?”
It’s a question we get asked a lot in product demos and by interested companies that come to us with a specific data problem to solve, but no real understanding of why they need a long-term customer data management plan. It’s not uncommon. 66% of companies lack a coherent, centralized approach to data quality.
Insycle is the Swiss Army Knife of the vital customer data that touches every department within your company and drives the strategies that you employ. The quality and accuracy of your data arguably affects the priorities of nearly every person and strategic decision made within your company.
Let’s dive into the real-world effects of bad data and look at how Insycle can help.
1. Bad Data Costs You A Lot of Money
IBM estimates that bad data costs U.S. companies more than $3 trillion per year. That’s toward the upper end of studies that have been conducted on this subject. The IDC found the number to be around $187 billion.
The difference in those figures just goes to show that even the experts are split on just how far the rabbit hole goes. But a few things are abundantly clear. The first is that companies are leaving a lot of money on the table in the form of bad data. Second, companies know they have bad data but often don’t align on why that is.
A survey in a white paper from Experian asked companies where they thought their bad data was coming from. The answers were almost shockingly split, with some alignment that “human error” was the main cause.
Experian also found that companies are losing up to 12% of their revenue due to bad data — and that was in 2014 when companies were collecting less and had less understanding of how to use the data that they did collect.
Bad data is costing your company. There is no doubt about that. It limits your operations teams’
ability to make accurate data-backed decisions. It wastes the time of employees across your company who are forced to change their processes or manually fix data errors in your CRM. It causes embarrassing mistakes that harm your reputation with customers and prospects and wasting your marketing budget. Bad data also causes untrackable revenue loss in the form of missed opportunities, misplaced priorities, and missing context for customer engagement.
2. Deduplicate To Maintain a Single Customer View and Improve Customer Experiences
We’ve written extensively about how customer data impacts customer experiences throughout the customer lifecycle.
It’s true. The data collected by your marketing team is used to provide context to your sales reps. Their logged interactions with those prospects go on to inform upsell and cross-sell opportunities once they become a customer. Support and success teams use that data for context while collecting more to continually build out sharper, more accurate customer profiles in your CRM.
Maintaining a single customer view is critical. It ensures that all of your different teams, with their differing priorities and needs, are all working from a single source of truth.
Duplicate contacts, companies, and deals in HubSpot, for instance, can cause all sorts of problems:
- Duplicate data wastes your marketing budget. In some customer databases, the duplicate contact rate can reach as high as 30%.
- Duplicate data hurts personalization. 67% of companies rely on CRM data to help them target and segment customers.
- Duplicate contact data denies your sales reps accurate context. Sales reps either have to work checking for duplicates into their workflow for every prospect or must be OK working with partial context, with the full context being split between two records.
- Duplicate data harms brand reputation. Breaking the veil of 1-to-1 personalization and sending marketing materials with mistakes rings unprofessional and harms your reputation with important prospects and customers.
- Duplicate data wastes your team’s time. They have to spend their valuable time fixing small data errors by-hand, or using complicated Excel functions and VLOOKUP, while still missing many duplicate records.
- Duplicate data hurts email deliverability. Email list hygiene and quality is one of their biggest challenges, according to email marketers.
Source: V12 Data
3. Save Your Team Time on Mundane Data Entry
Want to hear something shocking? Well, it might be shocking. Maybe you are painfully aware of the amount of time that the average worker spends on mundane, repetitive tasks:
That’s right — 40%!
That’s an insane amount of unnecessary waste across an organization. Millions and millions of dollars in even a small mid-size company.
How much of that do you think is manual data entry or manual data management? How many forms are your employees filling out with data that is already stored in your CRM? How many quality checks are built into your everyday processes for dealing with bad data that you don’t even think about?
Your marketing team probably dives into your data to see how bad the damage will be before they use any piece of data in a marketing automation campaign. Your sales reps might double-check for duplicate contact records before calling any prospect. Your support teams might have to dive back through previous tickets for context, due to a lack of faith in your CRM data quality.
The worst part is that data cleanup is a lot like doing the laundry or the dishes — just because you finished today doesn’t mean there won’t be a new mess to clean up tomorrow! Facing that fact alone can be extremely draining for your employees.
So much of what we do across an organization stems from data quality. It’s just become so ingrained in our processes that we don’t see how wasteful that is. And facilitating confidence in your data can save your teams a lot of wasted time. Then they can focus on big-picture strategies that move the needle.
4. Maintain Sanity & Morale By Limiting Endless Data Tasks
Yes, your employees waste a lot of time on repetitive tasks and mundane data entry. Yes, that has a measurable real-world cost in terms of how much of their salary is spent handling these tasks.
But the effect that low data quality has on morale has perhaps an even bigger, albeit less trackable, impact on your company’s revenue and general environment.
Digging through endless Excel files, fixing data by-hand, or using complicated function formulas to identify problems is awful, soul-killing work. For most. There are probably some data guys out there that love nothing more than digging through Excel files or writing a data filtering script in Python. But most people aren’t like those guys. Most of us can’t spend five minutes staring at a sea of data in Excel before wanting to tear our hair out.
Insycle is a data management tool for the rest of us.
5. Create More Personalized Marketing Automation Campaigns
Everyone is in a race to collect more data. In fact, some estimates show 7.5 septillion (7,700,000,000,000,000,000,000) gigabytes of data are gathered daily.
And collecting data is great — until it isn’t. The more data you collect, the more errors you are likely to have. This is particularly true if you don’t have a data management plan and some sort of data cleansing automation solution in place.
A database full of unusable data creates analysis paralysis. If you don’t trust the data, it’s hard to generate actionable reports and find new ways to use that data.
So you can collect all of the data that you want about your customers, but if your marketing teams don’t have enough faith in its accuracy, it’s never going to see the light of day.
More reliable data means more personalization. You can reference fields in your marketing materials that show that you have a deeper understanding of the prospect or customer.
Clean data gives your teams the confidence to use what you collect. Insycle’s Customer Data Health Assessment audits your database, monitoring it on an ongoing basis, and tracking more than 30 of the most common data errors.
6. Improve Data-Backed Decisions with Accurate Reports & Forecasting
Everything flows from your customer data. Companies are always attempting to become more “data-focused” and inject data-backed decision making into any big strategy that they make.
Which is great. Following where your data tells you to go is the right approach...for companies with clean, reliable data.
Accurate data means accurate reports and forecasting. Deduplication of Salesforce contacts, leads, and organizations means that you won’t have multiple entries for the same customers skewing your reports. Skewed reports lead to unforced decision-making errors — errors that could have been avoided if you had accurate data supplementing the decision.
Your ability to report plays a critical role in the priorities and agendas that you set as an organization. Making life-changing decisions based on low-quality data puts companies in a hole that can be difficult to dig themselves out of.
7. Improve Rep Load Management and Lead Routing for Sales Teams
Balance is important in sales teams. You don’t want your reps to be overloaded, splitting their time between too many prospects and accounts for any one person to handle.
Some CRM solutions allow you to balance rep workloads directly through their interface, or even make changes in bulk. But Insycle complements these features by giving you the ability to aggregate and update bulk data in different buckets.
For instance, with Insycle you can create an “updateable report” that consists of accounts and owners.
This gives you a top-down view of your load balance among your sales reps. Then you can drill down into each rep’s assignments and balance between them, in bulk. Sales teams can spot load balancing problems and quickly fix them with ease. Instead of creating a report, exporting the data to Excel, making updates, and importing it back — Insycle updatable reports let you group data and bulk update it directly through with just a click.
8. Import & Enrich Data Without Fear of Creating Duplicates or Bad Data
We all know the feeling. You have a list of prospects that you want to input into your CRM so that they can be loaded into your marketing automation campaigns and sales reps eventually can begin engaging with them.
But you just know that importing that list as-is is going to create all sorts of data problems. It’s probably likely to produce a large number of duplicate contact records that will be hard for you to identify unless you get into complicated Excel functions and VLOOKUP.
The data might contain fields that your CRM doesn’t use and is likely to create more clutter and redundant data in your CRM. The data might be formatted in a different way for specific fields (like phone numbers), causing inconsistent data issues.
That’s always the case with importing data into your CRM, right? Either you spend hours cleaning the data in Excel or you learn to live with these issues.
But with Insycle, that doesn’t have to be the case. Insycle makes importing new, fresh data into your CRM a breeze.
With Insycle’s advanced importing features, you can:
- Cleanse your data of common data issues before importing it into your CRM.
- Check for duplicate records and prepare to smart merge them before importing.
- Standardize inconsistent data to be in line with your current CRM data formatting.
- Shorten the time before prospects hear from your company.
9. Create Collaborative Data Management Processes
Often, data cleansing and management ends up being a one-person job. Not because there isn’t enough work for multiple people, but because the headache that comes with passing .CSV files back and forth through email and always making sure you are working from the latest version (and losing time when you aren’t) is simply just not worth it.
Data management is a time-consuming task. Even when you use Insycle’s advanced error identification and automation features, there will always be little data nuances and unexpected errors that your team will have to deal with before you can call any data “100% clean.”
Insycle makes collaboration easy, saving your team's time and helping you make data quality a community concern, rather than just those that end up having to deal with the bad data.
Once you sign up for Insycle, you can create unlimited sub-users within your account. At any time, you can invite someone to join or create a shareable view or report for them to view and collaborate on.
With Insycle’s collaboration features, you’ll:
- Cut your data management times by 50% or more.
- Easily invite new users to collaborate at any time.
- Create shareable reports or overviews using advanced filters.
- Never have to deal with VLOOKUP and other Excel functions to fix and reconcile data.
10. Keep a Close Eye on Data Quality With the Insycle Customer Data Health Assessment
One of the biggest roadblocks to improved customer data health is figuring out exactly how much bad data you have in your system.
There hasn’t been a tool that will analyze your CRM database and allow you to identify and fix common data errors — until Insycle.
Insycle’s Customer Data Health Assessment begins generating when you create your Insycle account. Insycle will audit your customer data to identify more than 30 common customer data issues.
The audit separates the different types of data errors into different categories like “poorly formatted data,” “inconsistent data,” and “duplicate data.”
Then, you can drill down into each of those categories to see exactly what kind of errors are present in your database.
Your Health Assessment will continue to audit and report on your data issues on a daily basis. You’ll be able to keep a top-down view of the health of your CRM data and track how it changes over time.
The Insycle Data Health Assessment Will Allow You To:
- Automatically identify common issues in your customer data.
- Easily fix those issues.
- Keep track of your data health over time.
11. Use Pre-Built Templates or Create Custom Templates for Your Unique Data Issues
Insycle comes pre-loaded with many pre-built templates that can help you to solve very specific data problems.
For instance, our templates for identifying HubSpot duplicates include templates that allow you to match duplicates in a variety of ways, using both exact-match comparisons and similar (fuzzy) comparisons:
- Match duplicates by address and phone number
- Match duplicates by name and email domain extension.
- Match duplicates by same name and similar company name.
- Match duplicates by same name and phone number.
- Match duplicates by similar names and companies.
- Match duplicates by similar name, same address.
- Match duplicates by similar name, similar email.
These are just a few of the many pre-built templates for dozens of data tasks that are available in Insycle.
Beyond the pre-built templates, you can create and save your own custom templates for dealing with data issues that are unique to your organization.
Maybe imports from a different software platform cause a very specific issue in your data. Using Insycle, you could isolate those issues, fix them, then create automated processes that run at regular intervals to make sure they get fixed, hands-free.
12. Maintain a High Standard with Fully Automated Customer Data Management Automation
The point of a customer data management plan is not just to fix your current data, it’s to institute ongoing processes that help you to maintain a high standard of data quality.
Allowing poor quality data to collect between cleaning runs doesn’t solve your problems. Yes, your database is cleaner overall than it would have been had you never cleansed the data. But your marketing, sales, and support teams still have to wonder if the data that they have access to is accurate, consistent, and reliable without a more consistent solution in place.
That bit of doubt in the back of their minds — the doubt that makes them double-check records before engaging with prospects, & spend hours combing through your data to fix errors by hand before sending out automated marketing campaigns — is what companies are constantly fighting against.
Insycle puts your customer data management operations on autopilot.
Not only can Insycle’s Customer Data Health Assessment help you to keep an eye on your ongoing CRM data quality — you can set data cleansing processes to run at set intervals, essentially automating the heavy lifting in your customer cleansing checklist.
Simple things like ensuring that first names are properly capitalized, that phone numbers follow a specific format, and standardizing job titles can all be automated.
Without having to worry about those tasks, you’ll be able to focus on the more specific data management and quality issues plaguing your CRM.
Regular automated runs are available for any template that you can create in Insycle. This means that your team will never have to load up Excel and manually fix your most common data tasks, ever again!
Using Insycle, you can eliminate 95%+ of your manual data entry and cleansing work, freeing your team to focus on the big picture.
Insycle — Modern Customer Data Management
It’s a question that we get a lot. The direct reasons why can differ between every organization, but you’ll be hard-pressed to find a company that wouldn’t benefit from tighter customer data management, increased marketing and sales operations efficiency, and automation that allows them to put their data management processes on autopilot.
You can try Insycle today on a 7-day free trial. Just fill out the form below.