The world of sales is one that is based on volume – the more leads you have, the better, right? Although more leads can result in more opportunities won, it can also seriously hamper your organization’s performance. Every single lead that comes in is packed with a smorgasbord of information – you have the contact info, account info, geographic info, and so on. As your lead database expands, the oversight you have over your records has to keep pace as well. Many organizations run the risk of becoming overwhelmed by big data from not properly taking advantage of tools at their disposal. So what is junk data first of all?
What the junk?
Junk data within Salesforce can be classified into four categories: missing information, inaccurate information, outdated data, and duplicate data. Among the most prevalent types of junk data come in the form of duplicate records. Duplicate records are exactly what they sound like – they are records that already have exact copies within your organization. This most often occurs through lead generation, given the number of different sources a company would have to collect leads. Eliminating these duplicates as soon as they arrive in your org will save you time and money in the long run. Letting duplicates sit in your database without taking any action will most likely cause miscommunication among your reps. So what can junk data cost your company?
The dirty numbers
Studies done by Sirius Decisions have discovered that a single dirty record can cost your company as much as $100 every year. This cost can occur through things such as work time wasted with sales conflicts or potentially, lost customers. Considering the thousands of records that your database has and the rate at which it grows, leaving dirty data around can end up costing you millions annually. For example, if you had a database of 100,000 records and it turned out that 20,000 of them are dirty, then you will be losing $2M a year. The next year, your database might add 40,000 records, and 20% of those might be dirty as well. So that $2M that you were losing just turned into $2.8M – and the problem will only get worse if nothing is done. In comparison, using tools to clean records and maintain cleanliness can cost you $10 and $1, respectively. Your data is the most important asset for your team and organization, so why not invest in something that’ll keep it clean?
Keeping it clean
Across Salesforce, there exists many solutions to keep your database clean, many of which you don’t actually have to pay for. Your organization within Salesforce is built upon rules, so why not customize them to make your life easier? Workflow rules can help ease the pain of incomplete fields, giving you the ability to auto-fill fields when certain criteria are met. Validation rules block out any potential junk data that could be entered into a field. If you don’t know where to start with customizing these rules, then we can help. There exists another set of rules known as Data.com matching rules, and Lane Four leverages these rules in ways that other third party apps ignore. We take full advantage of the Salesforce platform to provide you with a de-duplication solution that is practical for your organization. Our matching rules can be easily controlled and edited by users within the org – other apps have these settings tucked away from users in their own servers. De-duping records should be of the utmost priority in how you keep your database clean, and we can give you that sparkling touch.