{"id":117785,"date":"2022-12-30T09:08:14","date_gmt":"2022-12-30T09:08:14","guid":{"rendered":"https:\/\/monday.com\/blog\/?p=117785"},"modified":"2023-11-06T13:32:41","modified_gmt":"2023-11-06T13:32:41","slug":"crm-data","status":"publish","type":"post","link":"https:\/\/monday.com\/blog\/crm-and-sales\/crm-data\/","title":{"rendered":"How to structure your CRM data as your business grows"},"content":{"rendered":"

Staying organized with sales data can sometimes feel overwhelming as your business grows. That\u2019s where a CRM comes into play. A CRM is all about organization and helps you keep your data organized and accessible whenever you need it. This is a critical factor for growth and the ability to scale.<\/p>\n

In this blog, we\u2019ll look at the different types of CRM data, how to structure them, and how monday sales CRM can help you gain access to relevant information at the click of a button whenever you need it.<\/p>\n

Try monday sales CRM<\/a><\/p>\n

What is CRM data?<\/b><\/h2>\n
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Your CRM is home to all of the most important data that you need to track your leads, opportunities, current, and past customers. Think of it as a modern-day Roladex, but so much fancier and more sophisticated.<\/p>\n<\/blockquote>\n

CRM data is all of the information that you keep relating to your clients in your CRM. This is anything from simple contact information, to tracking contact with your client, potential sales, tracking leads along the pipeline, and more. Let\u2019s take a deeper look into the different types of data.<\/p>\n

4 types of CRM data you should know about<\/b><\/h2>\n

Identity data<\/b><\/h3>\n

This is all of the information you need to identify and stay in touch, with your leads and contacts. Identity data includes name, address, phone number, email, links to relevant social media channels, birthdays, company information, and anything else relevant to your interaction with the (potential) client.<\/p>\n

Descriptive data<\/b><\/h3>\n

This type of data gives you a deeper understanding of your leads and contacts so that you can connect with them better. This type of data may include information about a contact\u2019s family details, lifestyle information, educational background, workplace experience, etc.<\/p>\n

Quantitative data<\/b><\/h3>\n

Here are where the numbers come into the CRM equation. Quantitative data that you\u2019ll want to include in your CRM includes purchases that a client has made, engagement on social media, contact points along the way (meetings, emails), service tickets they have filed, and more.<\/p>\n

Qualitative data<\/b><\/h3>\n

Qualitative data is often gathered from your contact directly and can include information relating to their thoughts on your company and its customer service, satisfaction with products that they have purchased, who things were purchased for, etc. This data can help you gain a broader understanding of who your clients are and why they are purchasing your product specifically.<\/p>\n

Try monday sales CRM<\/a><\/p>\n

The importance of having the right data in your CRM<\/b><\/h2>\n

The difference between losing and closing a deal or between a satisfied or unsatisfied customer can be the type of data you have in your CRM. By entering and gathering the right types of data, you\u2019ll be able to boost your ROI, learn about your sales process, understand what is working for you (and what isn\u2019t) in your sales pipeline, and create a winning sales strategy.<\/p>\n

Top ways to structure your CRM data<\/b><\/h2>\n

Once you\u2019ve added in the correct data, it\u2019s time to create the right structure for your CRM. Without the right structure in place, your data is likely to get lost in the shuffle and you won\u2019t be able to gather actionable insights to improve your work.<\/span><\/a><\/p>\n

We recommend structuring your CRM in stages:<\/p>\n

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  1. Lifecycle stage – This stage looks at where your lead or contact is in the sales funnel or sales readiness. These categories can include leads, qualified leads, opportunities, customers, and others. The goal is to move contacts down the sales pipeline into paying customers and to gain visibility into where they may be potentially getting stuck along the way.<\/li>\n
  2. Lead status – This is a more specific look into where your qualified leads are in the sales process. As each phase requires specific care and attention, you can set up automation to work with clients no matter if they are in the new, in progress, open deal, attempted to contact, connected, or any other status.<\/li>\n
  3. Other customized needs – At the end of the day, a CRM needs to fit the specific needs of your company and the way that you sell. This means that you\u2019ll most likely need to have the opportunity to create customized categories and phases to track the data you need to create a winning sales strategy.<\/li>\n<\/ol>\n

    The benefits of limiting CRM data to essential information<\/b><\/h2>\n

    To put it short: no one wants to get lost inside their CRM. And too much data can cause this to happen.<\/p>\n

    Quality over quantity is definitely the mindset that you should have when approaching your CRM setup. Think about what goals you are trying to achieve and how the data you are inputting will help you achieve them.<\/p>\n

    If you add too much data, you may start tracking information that won\u2019t advance you toward your goals.<\/p>\n

    Try monday sales CRM<\/a><\/p>\n

    Best practices for CRM data collection and management<\/b><\/h2>\n

    Ready to start collecting data? Here are a few best practices:<\/p>\n