#blyDEA No. 48 – Good Data Structure = Good Business Success
The countdown to #Sagesummit 2012 continues and we’re continuing to share business ideas with our readers and followers as we encourage everyone to do by using the hashtag #blyDEA on Twitter. By doing this, everyone can see and follow your posts while hopefully contributing to the start of a trending keyword. I can’t wait to see the outcome and your responses.
#blyDEA No. 48 is focused around the concept that ‘the organization and structure of your business data relates to the success of your organization.’ This may sound a little off at first glance, but think about it…access to the right information at the right time is pricessless. So how do you make that happen?
We spend significant time with our customers on both the CRM and marketing side of consulting and the question of how to properly use collected data often comes up. Many are unaware of the resources available that outline how CRM can be used to harness this data. The answer begins with identifying what your organization’s goals are and how it plans to use client-related data as this can be directly related to how the data is organized. What I have realized is that it is a skill to understand how data should be used in the future as an organization grows vs. how it needs to be used in the present [as many companies are just now beginning to implement CRM strategies].
On a recent engagement, while speaking with a client who will be implementing CRM for the first time, but has had ERP for a while, the topic came up of the different types of communications they may want to send in the future that may impact how we set-up data in CRM. In fact, you should even think about what information points you want to collect from a customer and how that will be used. If you can’t think of a use for the data, we recommend not collecting it.
User adoption is critical too. If your teams do not buy-in to updating and keeping data in the system – you won’t be able to use that data effectively in the market. Being able to slice and dice data to target your marketing efforts appropriately increases your response rates, decreases your opt-out rates, and will increase overall leads and sales from marketing initiatives. That in itself directly impacts your bottom line.
For more information on how you can make your CRM solution stick inside your organization visit our whitepaper here. Or if you are interested in general marketing consulting that can help you understand how to better organize your data for better market penetration visit our Advanced Marketing page.