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CRM is now the largest of all software markets, according to the latest research by Gartner. Not only that, it’s the fastest growing sector, too. Why is CRM becoming such a powerhouse software market? Because each business’s CRM is filled with the type of big data that predictive analysis can use to produce powerful insights into business operations – insights that are unseen to even the best human eye.
We’re on the cusp of a data revolution, so B2B sales organisations with a well-organised, updated, modern CRM solution, are poised to gain a massive advantage – if they know what’s necessary to pull it off.
Here are some steps to get your CRM in shape as well as solutions to really supercharge your sales enablement program.
1. Clean your CRM data regularly
If your CRM is full of dirty data, there’s no way you’ll be able to apply effective predictive analysis to it – your results will be flawed. Instead of being able to identify the best leads for your sales team, you’ll find your results mildly effective, if at all. Your data needs to be cleaned first, and cleaned often.
Cleaning your CRM data involves removing duplicate records, filling in missing information, and updating outdated information. If you have Salesforce, you can configure the duplicate matching rules to help catch these, but you may need manual assistance. Missing information and outdated information often needs to be updated manually, although there are some solutions on the market that may help do this for you.
2. Augment with 3rd party data
There’s no reason why your sales and marketing team need to fill in all the data in your CRM themselves. Augmenting your CRM with data from a 3rd party provider is a clever way to save your team hundreds (or thousands) of hours uncovering new contacts. With pre-filled data available, you can simply run your lead scoring over the top and then get to work.
3. Add timely business intelligence
Timely business intelligence is the difference between you catching a lead before your competitor. The trick is to find embryonic triggers that signal a company is about to grow or evolve. Sales triggers include a company appointing a new CEO, a new company launching in Australia, the acquisition of a new brand or a company restructure. This sort of information can be tough to stay on top of manually – reading the news everyday usually isn’t enough.
Use predictive analysis
Once you have a good amount of clean data in your CRM, with clever triggers in place, you can start looking at predictive analysis solutions to augment your CRM.
For instance, if you’re using Salesforce, then you can look to Salesforce Einstein as a predictive analysis solution that helps to automatically score leads, recommend next steps, predict sales, and plenty more. It’s all designed to make your sales processes more efficient, more effective, and less resource intensive. And it all works – if you’ve got good data in your CRM.
If you need more information about any or all of these activities, why not get in touch? We know CRMs and we know data – and we’re here to help you get the most out of your CRM, pipeline and sales enablement program.
About the Author
CEO and Managing Director, IRD Group (Information Resource Development)
With more than 20 years in the industry, Matt is responsible for the vision and operation of the IRD group. What gets Matt out of bed? The knowledge that IRD is empowering and motivating our subscribers, and genuinely contributing to their commercial success.