In this present world of ever-increasing data and information with respect to its variety and volume the challenge to understand, which customer database in CRM is valuable for your business growth is the cardinal point for starting revenue-generating sales and marketing solutions for your company.With revenues expected to reach over $80 billion by 2025, it’s no surprise that CRM is the fastest growing software market - SuperOffice Click To Tweet
Now, whenever we discuss customer data residing inside your lead management software, the most often cited response is that…“all data in the CRM database is important”.
Although this may be true, to help you in deciding which data elements are most necessary during the initial phases of building your customer relationships, can be illustrated by a method to evaluate and identify the value of each type of data for your business.
With several implementations of online lead management software solutions, we have seen many types of data including “favorite color”; “pet names” and even “number of car seats and doors” all have prospective value to different buyer’s markets of best small and medium business CRM software .
While “pet names” can be an important data for pet supplies retailers using easy to use CRM , “favorite color” can be an essential data field for retails in the clothing industry and “the total number of car seats and doors” for users of business growth technology solutions like CRM in the motor insurance industry.
Therefore, when you primarily consider the necessity of each data element of the customer-related database in CRM, the ability to classify the data can help in determining how valuable the data is or in which phase of a sales cadence it should be delivered, if at all.
This following list provides examples of the data elements that can quickly identify the critical pieces of information, which are needed for creating customized sales cadence workflows and thereby accomplish your business goals from an array of different data sources.
The priority order of this data is as follows:
In the heart of the customer database inside the easy to use CRM lays the individual, so knowing the customer or the individual and to view and maintain that information in a single customer view supplies the initial data type which is known as identity data.
Identity data can include any information about an individual that enables the individual to be uniquely identified, which include:
Title, First Name (Forename), Last Name (Surname), Designation, etc.
Postal Address Information
Building Name, Building Number, Town, County, Zip/Postal Code, Country, etc.
Date of Birth, Gender, etc.
Home Telephone, Work Telephone, Mobile, etc.
Personal Email, Work Email, etc.
Social Network Information
LinkedIn Identifier, Facebook Identifier, Twitter Address, etc.
Details of your customer’s account ID or User ID.
Company Name, Department Name, Job Title, etc.
Permission and Suppression Data
Although this not essentially an identity element of data, it is important for finding information concerning permission to communicate and the reason for not communicating (suppressions).
Now once you identify who these individual persons are in your CRM database , the next element is to find focus on the measurable operational data that enables you to find how the customer behaved, reacted or has transacted with your brand. This data includes any info, which describes the activities completed between the customer and your business.
Transactional Information (Offline and Online)
Quantity of products purchased, Subscription/Order Value, Renewal/Order dates, Abandonment rate (abandoned shopping), Product returns, etc.
Product views, Website visits, online registrations, etc.
Social Networking Activity
Twitter interactions, Facebook likes, etc.
Customer Support Information
Customer complaint details, Customer query details, etc.
Knowing your customers and the type of activities they have completed with your brand provides a good starting point for any marketing activity, building your sales cadence for up-selling and cross-selling your offerings. Therefore, to find a more entire and broader perspective of your customer’s supplementary information, beyond the indemnity and quantitative details, you must include any info, which may include.
Marital status, Name of Spouse, Number of children, Children’s age, etc.
Property type, Car type, Pet ownership, etc.
School name, College/University name, Education level, etc.
The concluding type of data, which you will come across apart from the one, mentioned will provide additional description of your customers and their potential behaviors is the data acquired by information captured by questioners where your customers present data on motivation, attitude, and options that include.
How do you value our product, How do you rate our customer service, How likely you are to purchase our products and services again, etc.
Opinion based information
What is your favorite holiday destination, What is your favorite color, etc.
Why was the product purchased (personal use, a gift for someone), What was the key reason for purchasing our product (quality, price, locality), etc.
Using this easy data classification strategy and connecting them with your business goals, will not only enable you a quick identification of which data is vital for the success of your business, but it can also help you to understand the value achieved from each of this data element that helps in most advanced customer modeling, micro-segmentation of your customer base, and use an automated engine like Sales Force Automation (SFA) for building your sales cadence in your easy to use CRM platform.