As businesses become more data-driven, it is essential to have accurate and usable data across teams. According to a report on the Total Cost of Ownership of HubSpot vs. Salesforce, 95% of those surveyed say that having access to a comprehensive view of prospect and customer data is important. But, only 39% report that it is extremely easy to get a comprehensive view of prospect and customer data using their current CRM and sales/marketing tech stack.
Having access to comprehensive customer data can help businesses make better decisions, increase efficiency, reduce costs, and improve communication between departments.
Let’s take a closer look at the benefits of having accurate and usable data across teams.
The Benefits of Accurate Data
Accurate customer data allows businesses to make informed decisions based on facts rather than hunches. It helps identify trends by tracking key metrics such as website traffic, conversions, sales funnel performance and customer churn. This, in turn, provides valuable insights into customer behavior and preferences, which can be used to personalize marketing strategies as well as craft targeted campaigns that are more likely to convert customers.
HubSpot helps with this! In 2022, one of HubSpot's main focuses was on their data tools. They released many new updates for both the advanced and non-data users. In fact, according to research on the Total Cost of Ownership of HubSpot vs. Salesforce, HubSpot users are more likely (55%) to trust the accuracy of their data coming from their CRM, sales, and marketing technology, compared to Salesforce (44%).
How HubSpot Can Help Reduce Costs with Good Data
Accurate customer data can also help reduce costs by identifying areas where money is being wasted or lost due to inefficient processes. This is why it's important to have a full view of the data in your CRM. For example, if customers are dropping out of the sales funnel too early or abandoning purchases partway through the checkout process, then this could indicate a problem with the user experience or an issue with the pricing structure that needs to be addressed.
According to the report on the Total Cost of Ownership of HubSpot vs. Salesforce, HubSpot users (42%) find it easier to get a comprehensive view of prospect and customer data using their current CRM, sales, and marketing tech stack than Salesforce users (35%)
Cross-Team Visibility
Having accurate customer data across teams makes it easier for departments such as sales, marketing, and customer support to collaborate effectively by providing everyone with complete visibility into all aspects of the business.
This enables teams to easily identify areas where they can work together more closely in order to provide customers with better service or support initiatives which will ultimately lead to increased revenue for the business as a whole.
Informed Decision Making
Having access to accurate and usable data across teams is crucial for any business looking to optimize its operations while also increasing its bottom line. By leveraging detailed customer insights obtained from analyzing their current CRM system or other sales/marketing tech stack platforms like HubSpot users are more likely to trust their own numbers when making decisions about strategy or budget allocation - resulting in improved ROI over time.
Furthermore, having comprehensive visibility into metrics such as website traffic increases efficiency by enabling departments like sales & marketing to collaborate more closely while helping them craft targeted campaigns that are more likely convert leads into paying customers - ultimately leading to increased revenue for the business overall!
To ensure your business has what it needs to succeed in today’s competitive landscape – make sure you have access to accurate & usable data across departments!
