Often times we see data management as one of our clients main pain points. They either don’t have the resources or lack the expertise to go through the process of building and executing their list. Over the past couple weeks, we have discussed how to clean up your database, build and nurture your pipeline, how to work your prospect list and how to measure metrics. To keep all of those things running smoothly, you must have someone in charge of your database along with metrics for accountability for your sales team to meet.
In order to properly track the health of your pipeline, designate someone with the big picture in mind and authorize ultimate ownership. They will need to have the time to continuously manage all the data. Measuring your metrics isn’t something you can do once a year or whenever someone has time. It has to be monitored and tracked on a regular basis. To see if you have accountability sufficiently covered, ask yourself these questions:
-Who’s in charge of your sales and marketing lists and database?
-Are they focused on it all the time?
-Do they have the tools they need to clean, merge and assess your database?
-Do they have too many other responsibilities that can distract them from database management?
-Have they assessed the value of your data in the past?
After evaluating the accountability within your company, you may realize you need to hire a data specialist or assign someone in-house to begin overseeing the database. The route that is best for you will depend on the size of your company and the resources accessible to you. This role should be done by someone that understands how to work with data and is good with spreadsheets. They should also be analytical as they will have control over the CRM and will need to effectively have a handle on all the information.
Every company will structure this role differently, but ultimately they will be the master of the database. The data specialist will work at keeping the sales reps and marketing team held accountable. Activity should be monitored weekly and evaluated monthly to see if any trends are happening. Continually assessing the data will alert the data specialist to any areas that may need adjusting.
It’s also import to note that there are different levels of accountability. In addition to having a data specialist hold the team responsible, sales reps will also need to maintain integrity on their own. They should be continually tracking their progress by recording calls, taking notes and updating the list all while maintaining the overall structure of the CRM. Sales reps must work with accuracy and input their information properly into the database.
If you can’t dedicate someone to manage your database, you then need to consider outsourcing at least some of the responsibility to resources that focus on basic list management fundamentals everyday. It’s truly surprising the number of companies with insufficient and outdated databases. Having the lack of resources or experience can cost a company lots of money in wasted sales and marketing efforts. The 5 pillars we’ve touched on this past month are essential to effectively manage your databases. If you need assistance in any of these areas, from cleansing to developing your data, our staff at MPI are here to help.