Sales, Marketing, and Business Development teams use Customer Relationship Management (CRM) systems for driving sales, generating new business, and retaining existing clients. Executives rely on the data in CRM to measure performance, track client satisfaction and keep a finger on the pulse of their core business. In order for CRM systems to be truly useful, the data must be complete, accurate, and up-to-date. In addition, the intelligence stored in CRM must be available when and where users need it.
As discussed in a previous post, entering contact details and tracking activities such as meetings, phone calls, and emails can require upwards of 5.5 hours of time each week. That’s valuable time employees and partners could be spending generating more business for your company. At a conservative estimated fully loaded cost of $50/hour, that’s an annual cost of over $13,000 per person. Not to mention the opportunity cost of missed business – when the employee would be earning money for the business, instead of doing admin work. The alternative of not entering complete or accurate data can be even more costly for organizations.
Inaccurate, missing, or incomplete data in CRM can lead to:
- Missed cross-selling or up-selling opportunities
- Ineffective marketing campaigns
- Executive teams missing business-critical information
- Sales leadership teams without a clear picture of client relationships
Unfortunately, to achieve the benefits that companies are looking for, CRM users have traditionally been required to continuously create new records and update existing entries. The time and effort spent on these tasks typically results in frustration and lost productivity for users and leads to users and organizations not realizing the full benefits that a CRM system is supposed to provide. Data automation is the answer. Using intelligent systems to automate the entry of key data into CRM and get timely key insights out of CRM can help your leverage the investment your organization has made in CRM.
The Introhive Relationship Data Science platform for CRM automates the process of getting complete, accurate, and up-to-date contact and activity details into your CRM system. Introhive also helps sales and business development generate new business by proactively delivering actionable relationship intelligence, paired with relevant CRM information, when and where it’s most needed. To find out how Introhive saves company’s hours of data entry time and provides powerful relationship intelligence, email us at [email protected] or click HERE to learn more.