The Five “R’s” of CRM Data

It’s important to safeguard the integrity and usefulness of your firm’s InterAction data. One way to ensure this is to assess whether your content reflects what we refer to as the 5Rs of CRM Data.

Is your data RIGHT? Firms that are successful with CRM products devote the appropriate time and attention to data quality. The number of users, the amount of data in your database, and the strength of your data rules are factors that determine how much data quality time is required on an on-going basis. Think of data maintenance like car maintenance: keep up on it and you’re good to go; let it go, and you’ll pay for it.

Is your data ROBUST? What kind of data are you collecting about your contacts? Ask yourself which pieces of intelligence are important and valuable to your professionals, to your business development efforts and to your firm. Areas of interest? Services provided? Primary Contact? Industry? Which values are important to your firm? The answers to these questions will allow you to make sure your contacts are robust in meaningful ways.

Is your data RELEVANT? Ensure that the data you do keep is focused on client retention and growth, prospecting efforts and personal goals. Also consider segmenting and structuring your folders to match these same intentions and objectives.

Is your data READILY AVAILABLE? There are several ways to make your right, robust and relevant data readily available for your users. Readily available data starts with taking advantage of all the InterAction features that display and provide data. Consider using: Web Client Profiles and Search Forms, Activities, Folders/Lists, Additional Fields, Relationships, InterAction Mobility, Exporting, Reports or Content Subscriptions.

Is your data far-REACHING? Your InterAction solution is more than a repository of contact information. When used well, the content should allow users be on the same page with each other and with clients. It should ensure that users can keep clients satisfied. It should lead users to new revenue opportunities, follow-on business and referrals that can identify and help close deals. InterAction can be the best business development tool you have.

If you’re mindful of these 5Rs of CRM Data, users will quickly discover the true value of InterAction. More importantly, they’ll be able drive themselves toward achieving firm goals, client team goals, practice group goals and individual business development goals.

Maggie Hepburn
Senior Trainer – LexisNexis