When customers use your products, you generate data every day through workflows. If you don’t capture, analyze, and cleanse this data on time, you miss out on great opportunities. This allows you to learn more about how your customers use your products and interact with your team, making it easier to capture wonderful opportunities to improve your customer experience and your products’ quality. SalezShark Experts have taken out some best practices to make the best use of your customer data to cook a recipe of success on your business plate. Let’s look into it!
Best practices to use customer data
- Take care of security seriously
- We collect information ethically
- Decide what you need
- Invest in customer database software
- Proper Backup of your data
- Clean up unnecessary customer data
- Train your team well
- How to access the customer data?
Take care of security seriously
According to experts’ study, the average cost of a data breach came out to be $ 3.86 million. The average loss for small businesses (SMBs) per data breach is estimated at $ 120,000.
When you collect personal data about your customers, from personal phone numbers and addresses to dig deeper into your business’s finances, you need to have a plan in place to keep that information secure. This builds customer confidence and keeps your business out of big trouble in the future.
Collect information ethically
Facebook gained a lot of attention in March 2018 after knowing the fact that the popular consulting firm Cambridge Analytica had unintentionally collected information from 50 million Facebook users. People got angry and asked social media companies to investigate. Confidence in Facebook was collapsed.
Trust is a key factor in building relationships with your prospects and customers. SalezShark’s best way to build trust is to make your data collection policies transparent. Leaving the data collected unknown to customers is at best a breach of trust and at worst unethical. When a customer thinks they’ve betrayed you, it may put down your business image in the eyes of your consumers and competitors.
Decide what you need
Too much data (also known as data saturation) can overwhelm businesses with information and hamper decision-making. A hacker can also gain access to customer data that the user shouldn’t have for privacy purposes. More importantly, customer data is not commonly used. 60% to 73% of all internal data is not used for data analysis.
Determining what data to collect requires some sort of strategic thinking. Data obtained from customers need a specific purpose. Sit down and decide what information you need.
Invest in customer database software
Gone are the days of spreadsheets to store your customer data. Today, small and medium businesses that take data seriously store customer information in secure SalezShark B2B databases, which are GDPR-compliant. The SalezShark CRM tool has been designed to organize all the gathered critical information and keep it safe. It can also provide segmented customer information based on data.
Consider Expensify, based financial services company that provides online expense management services. The company began using SalezShark to store information about its customers and make sense of a wide variety of data at scale. This CRM platform brings together valuable pipeline data that highlights great opportunities to improve the sales process.
Proper back up your data
Despite the high probability of data loss, 58% of small and medium businesses are not ready for data loss. This statistic is even more astonishing when you consider that “only 60% of SMEs with data loss will be shut down within six months”. A data backup and recovery plan are essential in such a case.
The entire customer data must be properly backed up in the event of a system failure. SalezShark can carefully seek and backup your data without failure. They offer safe insurance to protect your customers as well as your business image.
Clean up unnecessary customer data
According to a news source, almost 25% of B2B marketers’ databases are inaccurate, impacting costs and customers’ confidence. You should not only plan to properly back up your data, but you should also strategize how to clean unnecessary customer data.
What does it mean? View and update information such as customers’ email addresses, phone numbers, and home addresses. Remove duplicates and remove contacts that are irrelevant. SalezShark makes use of this type of data cleansing to increase the value of your current data, that’s what we call data hygiene.
Train your team
In the long run, you can save money by training your employees about customer data. Bottle Bogle Hegarty (BBH) of the London-based marketing agency learned this lesson the hard way. A member of the BBH team deleted over 1,000 files while trying to clean up company data. The data was only partially restored.
Thus, it doesn’t make much sense to have an idea to collect and protect customer data if your team can’t put it into practice. SalezShark will teach your employees how to process and interpret data by training them with well-established resources and artificial intelligence. In the long run, its data-driven culture will definitely benefit your business.
How to access the customer data?
Once you have a solid foundation for how data is collected and protected in your business, the next step for your business is to find a way to deliver that information when you need it.
This is where your CRM choices start to have a big impact on your operations. You want to provide secure access to your data anytime, anywhere. SalezShark CRM software is a reliable tool that can safely manage your customer data and relationships.