What Is CRM Data?

Most sales managers have had experience with a variety of CRM systems. What they might not know about CRMs, however, is that they are a proven sales tool for the effective collection and analysis of sales data. But what is CRM data and why should you care about it? Read on to find out. 

CRM Data Defined

CRM data can be defined as any information collected by a customer relationship management platform that helps users gain insight into the buyer’s journey. Analyzing this data has a number of significant uses. These include improving the effectiveness of your sales pipeline, predicting the actions of your future clients, and driving greater results not only in sales but also across the business. In addition to exploring “What is CRM data?” it’s time to ask yourself, “What kinds of data should you be collecting?” 

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LiquidHub Answers the Question: What Is CRM Data?

To answer this question we can refer to what LiquidHub, a sales consulting firm, has to say about the matter. So exactly what is CRM data? LiquidHub posits that there are four key data points every company must collect. The data points are contact information (email, name, location, etc.), demographic (age, industry, etc.), transactional (purchases, past communications, etc.) and relationship (characteristics, likes, dislikes, etc.).

Why CRM Data Matters

A data-driven approach to sales requires a reliable system. While most businesses want insights, they are lacking the right quantity and quality of sales data to get there. The best CRMs are designed to automatically capture many data points, as well as make it extremely easy for reps to collect additional information. They then analyze and present this CRM data in meaningful reports.

Using an advanced CRM with high quality data features will ultimately help your business work smarter, not harder. Using data, not guesswork, is a scientifically accurate way of achieving success in any field by forecasting the outcome of your sales technique.

Now that you know exactly what CRM data is and how the best tools help you collect and analyze this information, try browsing our CRM evaluation guide for more information on taking the guesswork out of choosing your next data powerhouse. 

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