CRM data management report 2020 From Validity
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The following is the CRM data management report 2020 From Validity recommended by recordtrend.com. And this article belongs to the classification: research report, network marketing.
According to a recent validation study, the collection and maintenance of high-quality CRM data may be the key to achieving positive change for marketing and sales companies that want to improve lead conversion and overall revenue. Four out of 10 respondents (39%) either had no CRM data management process or had no effective CRM process.
Important findings:
CRM data quality is very important for marketing personnel. 92% of respondents rated it important (31%) or very important (61%) to provide high-quality data for these platforms. However, almost half of the respondents (45%) thought their CRM data quality was neutral (35%), poor (9%) or very poor (1%). Only 8% of the respondents met validity’s three criteria for high-quality data.
About 4 / 10 of the respondents (38%) estimated that 60% – 79% of their data were complete and accurate, while another 1 / 5 (22%) thought that the data of 40% – 59% were complete and accurate. Only a quarter of respondents (24%) estimated that more than 80% of CRM data were complete and accurate.
In fact, about 95% of respondents have experienced some type of data quality problem, of which the most frequently mentioned is missing or incomplete data (69%).
More importantly, although 90% of respondents are taking measures to improve CRM data quality, the most frequently cited method is to manually identify and correct data quality problems (63%).
How do the best performers benefit from higher quality CRM data
More than 70% of respondents believe that data is the lifeblood and key driving force for growth of enterprises.
Overall, only 35% of companies are satisfied or very satisfied with their lead conversion rate, compared with 47% of companies using the highest quality data. Only 15% of enterprises with very poor, poor or neutral quality data are satisfied with their conversion rate, and none of them are very satisfied.
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