Customer Data Management: Tips and Best Practices

Bineesh Mathew | March 30, 2022 | 177 views

Customer data management (CDM improves a company's overall services, procedures, and products ethically. Best practices of customer data management have never been more critical for today's brands, dealing with more competition, higher customer expectations, data breaches, and growing demand for better decision-making.

The sheer scale of data sources and client data has grown dramatically due to more complex and diverse digital interactions than ever before. So they need to move, store, and analyze customer data to better target their customers..

“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.”

– Steve Jobs


Customer Data Management (CDM)

Customer data management (CDM) collects, secures, organizes, and uses consumer data to personalize interactions and increase conversions and loyalty. CDM also includes a governance framework, more accessible ethical data collection, and proactive consumer data security. As data protection remains a priority, CDM will become more open over time.

The complicated nature of data breaches, like the recent data breach of 500 million Linkedln profiles, has made it necessary for companies to be held accountable for data protection.


Best Practices for Effective Customer Data Management

Good customer data management can help your company grow in various ways. So here are some customer data management best practices for your continued success in business.


Make Your Customer Data Accurate

Although limiting your data to only the information your organization needs to fulfill its goals, it is a beautiful method to improve data quality. However, there are many more things you can do to make sure that the data your company collects is clean and accurate.

To begin with, data should be regularly double-checked for accuracy, as old data can quickly become obsolete and unrelated to your sales and marketing teams. In addition, outdated data should be removed at regular intervals from your data management software to avoid disrupting your sales and marketing departments' automation, analytics, and other activities.

Another thing you can do to help your team focus on data quality in data management is to train the team members who have access to the data on how to gather and input data correctly. Although most processes are likely to be automated, training is required if team members are setting up these processes or if data has to be manually entered into your CRM or data management software. This prevents data from being entered wrongly, preventing future issues.

To improve the accuracy of all metrics extracted from said data, ensure it is reviewed and cleansed before being utilized in any analytics or reporting. Making data quality a top priority will help keep all your company's data use clean and accurate.

Have Focus Only on Critical Data

You must ensure that the data you collect for your client database is genuinely relevant to your business. Your customer data platform (CDP) becomes overburdened when you collect unwanted data. In addition, collecting too much data could lead you to get personal information about your consumers.

Examine each item of information you collect and ask yourself the following questions:

• Who requires this information?

• What exactly does it do? What is the purpose of this information?

• Could we still function in the same way if we didn't gather it?

If you don't have the answers to these questions, don't disregard the data point. Inquire about it. Perhaps there is a reason for this.

Let's imagine you're collecting information about your website users' corporate revenue. That appears to be an excellent data point, right? However, when you ask the four questions we outlined above, you'll discover that the data doesn't meet any business needs, that no one is using it, and that not collecting it will make no difference. So, in this case, you can remove the unnecessary data.

Unnecessary data collection can get your firm into trouble. A publicly traded corporation just experienced this. Even after clients stopped using the company's service, the company kept track of them. The corporation faced immense criticism with negative headlines after the FTC (Federal Trade Commission) filed a complaint against them, forcing them to change their decision.


Monitor Your Data Regularly

The primary reason for using solid data monitoring techniques is that customer data is in constant flux. So, you might want to use special notification strategies to keep overall data quality high and make sure that specific security policies keep data organized and on point.

A bi-weekly scan for incomplete or erroneous records is required to maintain an optimized and updated database. Furthermore, you should review your data twice a week for any unwanted forms or entries that need to be cleaned; this is an essential part of customer data management success. An online report generator can help you save time and improve the quality of your data monitoring procedures by reducing the amount of time it takes to complete these duties.


Make Sure Your Data is Readily Available to Your Team

There's a narrow line between data security and data convenience. Security in data management refers to the ability for only authorized individuals to view reports or access data. The data cannot be accessed or considered by anybody outside the company. On the other hand, data convenience refers to how simple it is for the appropriate person to obtain data.

Investing in Customer Data Management software and ensuring that permissions and authorizations are set depending on an individual's role with the data is the best method to avoid this. For example, lower-level employees of a company might not need to have access to the database, but they can have access to a view-only portion where they can’t change the data.

Access to the data may be required by departments that rely on data, such as sales and marketing. Ensure your data management system allows you to grant access only to the people who need it and keep the else out.


Make Use of Good Customer Data Management Software

Finding good software is crucial to establishing a high-quality data management system for your business. Conversely, investing in incorrect data management software can result in many problems.

Find a customer data platform that gives you clear and accurate information about your leads and customers. If your customer data platform isn't already doing this for you, it should do it for you automatically. This way, your sales and marketing teams will be able to do their jobs more easily.


Summing Up


You will be able to connect with your audience on a more meaningful and more profound level than you ever imagined possible by:
  • Following customer data management best practices,
  • Working with the right customer database management system for your business
  • Leveraging this wealth of invaluable insights

Frequently Asked Questions


What are some of the types of customer data?

Some customer data types are behavioral, engagement, attitudinal, and primary or identity data.


What can businesses do with customer data?

Businesses can use the customer data to customize their marketing activities, concentrating on each potential client.


What is customer data management?

Customer data management (CDM) refers to how firms keep track of their customers' information and conduct surveys to get feedback. In addition, CDM refers to a set of software or cloud computing solutions that provide significant businesses with quick and easy access to client data.

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Read More

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Read More

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