The Importance of Accurate CRM Data in B2B SaaS

All SaaS companies I have worked with use a CRM system, usually HubSpot and/or Salesforce. But one thing they also have in common is a lack of well maintained data in the system. Ironically, unlike more traditional companies like law firms that hold vast databases of data, there is not normally a ‘CRM system manager” or “data steward” in charge of maintaining this data. 

If you were to speak to one of the leading law firms in the world, they will probably tell you that yes they have a dedicated CRM database manager and they probably have people within that team whose job it is to maintain the integrity and accuracy of the data in the CRM system too.

SaaS companies on the other hand, tend to be so focused on filling the CRM system with data and leads that they forget to manage it. Unfortunately for SaaS businesses, the role of maintaining data doesn't typically fall under one umbrella and therefore it is often left for either the person entering the data to maintain it, or it may fall under the unofficial remit of marketing or revenue operations. Interestingly, CRM manager is a role that has not yet cropped up in many B2B technology and SaaS companies, but maybe it should.

The Benefits of Better CRM Data

The benefits of better data in your CRM system are pretty obvious but we will outline them here just to make sure:

1. Better personalisation for your marketing efforts. If you are looking into ABM campaigns or using dynamic content functionality in tools like HubSpot then you are going to need your data to be accurate to provide the best experience possible for your audience.
2. A reduction in the size of your overall contact database and potentially a cost saving. Tools like HubSpot charge you based on the number of contacts in your CRM system so you can actually save money by reducing the number of contacts in your database.
3. Reduced Data Decay: CRM data tends to decay over time due to changes in job roles, contact information, and company structures. Accurate data management processes, such as regular data validation and updates, help mitigate data decay, ensuring that your CRM remains reliable.
4. Targeted Marketing: Accurate CRM data helps you identify and target your ideal customers more precisely. You can segment your audience based on industry, company size, location, and other relevant criteria, ensuring your marketing campaigns are more effective.
5. Better Lead Scoring: With accurate data, you can develop more sophisticated lead scoring models. This allows your sales team to prioritise leads based on their likelihood to convert, increasing efficiency and closing rates.
6. Personalisation: Accurate CRM data enables personalisation in communication and interactions with prospects and customers. You can tailor your messaging, content, and offers to individual needs and preferences, leading to higher engagement and conversion rates.
7. Timely Follow-ups: Accurate contact information and interaction history help your sales and support teams follow up with leads and customers promptly, increasing customer satisfaction and trust.

Roles to consider for CRM management

In most B2B SaaS companies the job of managing CRM data is usually split between roles and departments or it is not assigned at all. Often a marketing manager might have to look after this. If you have grown to a point that your CRM system is looking a bit rough around the edges then you may want to consider either looking for help from a marketing operations and CRM consultant or hiring for one or more of these roles;

CRM Manager or Director

The CRM manager or director oversees the overall CRM strategy and implementation within the organisation. They are responsible for setting objectives, defining processes, and ensuring that the CRM system aligns with the company's goals.

CRM Administrator

CRM administrators are responsible for the day-to-day management of the CRM system. They handle data entry, user access, system customisation, and troubleshooting issues. They ensure the CRM system functions smoothly.

Data Analyst or Data Scientist

Data analysts or data scientists play a crucial role in analysing CRM data. They use data analytics tools to extract valuable insights, identify trends, and provide recommendations to improve marketing, sales, and customer service strategies.

Summary

Ok so in summary, sort your CRM data out! It's just like keeping your desk, office or house tidy. Tidy house tidy mind as they say. Getting your CRM data in order is really important to ensure your are maximising your companies efficiency and effectiveness.