The Complete Guide to Salesforce Best Practices for Investment Firms

Introduction

If you are in the sales business in any industry, you already know that a CRM can be a double edged sword. It can —and should— be the number one sales tool that enables teams to drive business and build relationships. But it can also be a major pain point throughout your work day.

What makes the difference here is the quality of the data within the CRM. If your sales team knows that it’s full of outdated, essentially useless data, they won’t use it, and the CRM won’t get adopted.

If they know the data is helpful, will allow them to schedule more meetings with qualified buyers, and contains the critical information they need to meet their goals, it becomes a whole new ballgame.

Many CRM users assume that the data in their CRM is clean and ready to be used by the sales team. However, without regular clean up, a team of dedicated administrators ensuring the data is up to date, and regular data hygiene checks, this is likely not the case.

In fact, 44% of businesses in a recent study said that they lose over 10% in annual revenue due to low-quality CRM data. That is a lot of money being left on the table due to bad data.

You might be wondering what a data hygiene check is and how you do it. The answer is simple. A data hygiene check is a regular review of your CRM and the data within it, to ensure that the data is clean and updated. This could be anything from removing bad data, eliminating duplication, adding additional clean data to enrich contacts, or correcting inaccuracies in the data.

So, what can you do to make sure your CRM is updated and full of useful, accurate data? Luckily, there are a lot of small, manageable steps you can take to promote data hygiene within your CRM.

In this guide, we’re going to go through common misconceptions about CRM data, health, Salesforce best practices, and recommendations that will help you get ahead of your bad data problem. By the end of the eBook, you’ll have a clear understanding of next steps and best practices.

What is CRM Data Hygiene and Why Is It Important?

When it comes to data entry, especially data entry done by multiple people, human error is inevitable. That means things will be entered incorrectly, data will be duplicated, and there will be inconsistent information over time.

Reviewing your data on a consistent basis ensures that these things are remedied and do not grow as time goes on.

Below are the five key benefits of entering meeting notes, and all of the subsequent things you'll be able to do with that information.