Everything an organization does relies on accurate customer relationship management (CRM) data. It encompasses every part of an organization, from marketing campaigns to sales development activity to customer experience and beyond.
Yet far too many CRM users blindly assume their data is clean and ready for meaningful use. And in many cases, they’re wrong.
The reality is that data decay, or the degradation of overall data quality due to missing, incomplete, or outdated information within databases, has accelerated since the start of COVID-19. If ignored, it can be a silent killer for many organizations.
In a recent State of CRM Data Health Study, 76% of respondents, comprised of 1,241 CRM users and stakeholders, characterized their CRM data quality as either “good or very good” at the onset of the survey, only to later reveal that poor CRM data quality is actually costing their company new sales.
In fact, 75% of respondents state inadequate outreach driven by poor data actually lost their company customers. Additionally, 79% of respondents agreed that data decay has accelerated at an unprecedented rate as a result of the pandemic, heightening the tension between data confidence and reality.