Customer relationship management (CRM) systems not only help a business understand its customers, but stores important data about them and their buying trends. The data in CRM systems is vital to understanding the customer. CRM expert and Validity’s Jeff Foley shares an article (and video) on Destination CRM and CRM Magazine of the three pillars of Data Management within your system that are critical to business success. CRM data, like all data, should be as accurate as possible. Though with human error (and even machine error), there will be problems along the way that can harm data. Foley’s three pillars of CRM data management are:
Data quality – “That’s the profiling, the standardization, the deduplication, the enrichment, the automation of monitoring.”
Data governance – “The idea of the people, the processes, the technologies that come together to give you a plan, and give you a strategy for taking care of these, and give you standards so that you know what good looks like, and you know what you’re trying to achieve.”
Leadership support – “If you’ve got that buy-in at all levels, cross-functionally across the organization, and that trust in this process and the need for these this governance and to achieve this quality, then you’re less likely to run into challenges.”
Foley has found that companies with higher-quality CRM data had three traits he mentioned above. This is something you should consider when handling the precious data in your CRM systems.