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How to Drive Better Business Insights with Strong Data Governance
- 1. Data Governance How to drive better business insights with strong data governance #YouHackWeHack Webinar Series presents: with Matt Dillon Co-Founder & VP Nuvem Consulting @mdillon_cloud Hosted by Ricky Wheeler CMO, Ebsta
- 2. How to participate: • For audio choose “Use Mic & Speakers” or “Use Telephone” in your Audio window • Submit your text question using the Questions Pane • Note: A recording will be made available
- 3. • Data quality = strongest asset, biggest problem • Your data governance strategy • Creating a center of excellence • Establishing data standardization • Developing application management plans • Release management • Incorporating data & systems integration strategies • Data cleansing essentials • Q&A Todays Agenda
- 4. Your data is one of the most important assets you have as a business but are you taking the necessary steps to manage your data with care? Are you using your data to improve the customer experience and make better business decisions?
- 5. Current State of our Data 90%incomplete 74%need updates 21%dead 15%+duplicate 20%useless
- 6. Common Data Entry Points Source: Sales & Marketing Data Quality Benchmarks Report, Demand Metric, 2013 Email Marketing Automation CRM Organizations are growing their databases by an average of 10% every year! 90% of our data created in last 12 months! Other Data Entry Captured Imported Integration 11% 5% 72% 68% 73% 11% 68% 66% 50% 47% 90% 65% 32% 44%
- 7. • Name spelling • Address line (St. vs. st.) • State consistency • Lead source • Department / job level • Public-facing forms don’t match the CRM; sync failure Common Data Entry Errors
- 8. Cost of Dirty Data The longer dirty data is allowed to reside in a system, the higher the probability it will negatively impact: • Customer experience • Marketing campaign performance • Sales intelligence • Executive-level reports and decision making • Your company’s bottom line
- 9. 88% 12% $600m Cost of Dirty Data Companies reporting that bad data has a direct impact on the bottom line Average annual revenue loss Estimated average annual revenue loss to U.S. businesses Source: Gartner
- 10. 89% Cost of Dirty Data Marketers who expect to compete on customer experience in 2016. Source: Gartner Dirty data that originates in the marketing or sales tool, then proliferates throughout the org, leads to lower conversion, missed opportunities and a weak customer experience.
- 12. Sales Cloud as your Data Hub Sales Cloud CRM is the central repository for all customer or partner information. As such, it must be customized correctly, managed with care, updated appropriately and governed as if your business depended on it.
- 13. Where do we start? 1. Creating a center of excellence 2. Establishing data standardization 3. Developing application management plans • Release management 4. Incorporating data & systems integration strategies
- 14. 1. Creating a Center of Excellence • Executive sponsor • Sales and marketing leader(s) • System administrator(s) • End-user champion • Leaders of other departments touched by the central database (CRM) You must designate one person as the “owner” of your solution. There cannot be multiple owners.
- 15. 2. Data Standardization • Complete • Accurate • Meaningful • Well Organized • Speak a Common Language
- 16. 2. Data Standardization • Required fields • Picklists • Matching field names and values • Meaningful data • Are you capturing the right data in the right place for the teams who need it?
- 17. 3. Application Governance Application Management A. All new apps fully vetted through proper discovery B. All new apps approved by Center of Excellence C. All new apps subject to standard implementation process, including training
- 18. 3. Application Governance Release management All major apps must have a plan for new releases For example: Sales Cloud has 3 new releases per year with some that include major updates or replacement of existing features
- 19. 4. System integration 1. Applications and data schema are validated, tested and approved. 2. Bi-directional integration matches system of record’s architecture in Salesforce and connected app 3. Multiple integration touchpoints; you must make sure there is no overlap 4. Integrations timed and well documented either using a tool such as Lightning Connect, Jitterbit, Boomi, Cast Iron or direct API integration
- 21. Data Cleansing Tools and Tricks 1. Automated Tools 2. Human Element 1. Training fundamentals 2. Have power users give examples of how they identify and address data issues
- 22. Data Stewardship Ultimately, data stewardship is everyone’s responsibility. • Executives set the vision for integrated technologies; data strategy • Department Leaders ensure team is properly supported with right number of admins and tools; must enforce data strategy • Admins must train sales reps on data entry and management • Sales Reps must practice sound management principles • What’s in it for them? Awesome BI and reports!
- 23. Closing Remarks Bad data costs more than you think! • The time to act is now! Sales Cloud CRM is your hub for all customer activity and data • Do you have the right integrations? • Is your system optimized with strong adoption? • How can you automate data entry? 3 elements of a data governance strategy • Create a Center of Excellence • Establish data standardization with data mapping • Develop an application management plan Cleanse your database and review data quality every 6 months
- 24. Matt Dillon, Nuvem Consulting matt.dillon@nuvemconsulting.com @mdillon_cloud Free consultation: http://info.nuvemconsulting.com/strategy-session Q&A
- 25. Next Webinar: HOW TO IMPROVE SALES CONVERSION RATES WITH THE EBSTA SCORE With Dan Remedios, (Head of Product at Ebsta) April 19th at 5pm GMT, 9am Pacific Register at www.ebsta.com Q&A
Editor's Notes
- Set the stage for why we are talking about data. Bad data really comprises everything you’re trying to do as a business.
- Big data not getting any smaller Where does data go wrong? Can be point of entry. 4 methods of data entry most common - direct integration via lead capture from website; imported purchased lists; imported lead captured at tradeshows; events or other marketing activities; data entry by sales members, support and others internally 72% of survey respondents report using manual data entry as most popular method, which is most prone to user error. Add a plug for Ebsta here as a way to automate data entry
- Name spelling - jeopardizes personalized automated emails; creates confusion for other connected systems on source of truth State consistency - using a text field would yield many types of entry; making it required if necessary Lead source - not a picklist, ineffective values, not automated with a marketing tool Department / Job Level - not picklists Public-facing forms don’t match the CRM
- “Data finds its way into the systems that house it in a number of ways, and each path has its challenges. The best strategy is to have a process or mechanism for assuring data quality or cleaning that is as close to the point of entry as possible.
- The dirtier the sales and marketing data, the harder it is to communicate with prospects and customers. Direct connection between data quality and conversion rates. Bad data + bad processes = bad customer experience It is not enough to simply capture a lead and have in your CRM or MA system. To properly nurture a lead or service a customer, their information must be complete and correct. Direct connection between data quality and conversion rates. A misspelled name or incorrect title creates a negative perception. A missing or incorrect email address lowers inbox placement rates for email campaigns. Did you know that the number one reason for CRM failure is bad data? On average, every 30 minutes 120 business addresses change, 75 phone numbers change, 20 CEOs leave their jobs, and 30 new businesses are formed. (Source: D&B The Sales and Marketing Institute)
- 15:00 The dirtier the sales and marketing data, the harder it is to communicate with prospects and customers. Direct connection between data quality and conversion rates. As an admin, you role is to identify these data issues and also coach your sales and marketing teams on what you’re seeing because that will impact their vision. Bad data + bad processes = bad customer experience It is not enough to simply capture a lead and have in your CRM or MA system. To properly nurture a lead or service a customer, their information must be complete and correct. Direct connection between data quality and conversion rates. A misspelled name or incorrect title creates a negative perception. A missing or incorrect email address lowers inbox placement rates for email campaigns. Did you know that the number one reason for CRM failure is bad data? On average, every 30 minutes 120 business addresses change, 75 phone numbers change, 20 CEOs leave their jobs, and 30 new businesses are formed. (Source: D&B The Sales and Marketing Institute)
- Transition: Let’s talk a little more on the customer experience and the role your data governance plan plays in that. For you administrators out there, you may be thinking, I’m just a Salesforce admin why do I need to be thinking about business transformation and customer experience? And to that, we would say, your the boots on the ground and the front line person that needs to be working with your executive team on building a technology infrastructure that is fully integrated and leveraging CRM as the central hub of all customer and prospect data. Most companies are now using a marketing automation tool connected to their CRM. Some are beginning to connect their CRM to other department. If we have data failure in bucket 1 or bucket 2, look at what else that impacts. Of if you don’t have integrated systems beyond bucket 1 and bucket 2, think of the nightmares you are having in creating an efficient process. The cost of managing that data in multiple systems that are not integrated is a huge problem.
- Emphasize the importance of getting Sales Cloud right. So many organizations struggle with just getting Sales Cloud right. Or they aren’t using it to its full potential. The cost of delaying that investment in optimizing your central database is huge compared to the investment you might make in maximizing Sales Cloud functionality and ROI.
- 25 minutes OK - so we know how important data is but now what? We have to create a plan. There are three key elements of a good data management plan.
- 25 minutes Whether you call it a Center of Excellence, a change committee or a Salesforce governance committee, the concept is the same: bring together a team of people involved in processes touched by Salesforce to oversee the ongoing maintenance and long-term vision for the solution. Your governance committee should include an executive sponsor, department leaders, administrators and an end-user champion. If your solution touches departments beyond sales and marketing, leaders at those departments also must be involved. One Clear Owner And even with the guidance of an oversight committee, it is absolutely critical that there is clear ownership of the solution with one individual. It’s common in many organizations that multiple people are responsible for Salesforce but no one person has clear ownership. But that goes against a fundamental principle of management that a leader be designated for such endeavors. If there are multiple owners, nobody is responsible for the success of the solution. Great Salesforce “owner” will act as the key facilitator, champion and cheerleader of the solution. They’ll be committed to continuous improvement, system optimization and coaching of other team members.
- 30 minutes You must have accurate and complete data to create accurate and meaningful reports, which is the whole reason you bought Salesforce in the first place. If you aren’t getting the reports you need, you aren’t getting the insights you need to sell more and make better business decisions. When establishing a data standardization strategy, it’s best to start with a data map listing all the critical fields necessary per Object and where the sources are for that data. You also must understand if all the sources providing that data are accurate and complete. When considering the reports you need to manage your process or business as a whole, reverse engineering your reports helps you understand what data you need to get those reports and what Objects will help organize that data.
- Data standardization among integrated systems If you’re integrating to a marketing automation system such as Pardot, the importance of having a data standardization strategy may finally be coming to light. Marketing automation systems can only talk to your CRM when the data fields match. And public-facing forms must capture data in the same format. Using picklists to minimize inconsistencies and spelling errors, as well as making certain fields required are common ways to ensure a smooth sync. With marketing automation, you must also consider the completeness of your data. Making certain fields required for your sales reps will help ensure the marketing team has the data they need to effectively segment Prospects onto Dynamic Lists. After all, you can’t quickly grab a marketing list of all your local customers for an upcoming event if only 30% of your Leads and Contacts have that field completed in their records. The same goes for other systems connected to the main Sales Cloud database such as Communities or Steelbrick CPQ. The more systems you have integrated to your core solution, the more oversight and consideration will be needed to ensure data quality.
- 35 minutes All new apps must be put through a rigorous discovery process You also need to consider general management principles for applications connected to Sales Cloud. New apps, whether large or small, must be fully vetted and approved before they are downloaded and added to the org. And there must be a process for ongoing maintenance and support of these apps. You cannot allow anyone to download an app on a whim. All apps must go through an implementation process that includes discovery, customization, training and ongoing management. Salesforce Sales Cloud has three major releases a year with new features that must be rolled out and managed according to your needs and unique configuration. Sometimes Salesforce replaces major tools and stops supporting older features, which calls for action and planning. Depending on the complexity and extent of new features, as well as your number of users, it may take time to configure and roll these out to your org. This needs to be accounted for to allocate resources. Plan governance committee meetings after release notes are made available so you can discuss new features with your team.
- Salesforce Sales Cloud has three major releases a year with new features that must be rolled out and managed according to your needs and unique configuration. Sometimes Salesforce replaces major tools and stops supporting older features, which calls for action and planning. For example, Lightning is a new feature that dramatically changes and improves the UI and requires planning to roll out. You cannot simply turn it on. Depending on the complexity and extent of new features, as well as your number of users, it may take time to configure and roll these out to your org. This needs to be accounted for to allocate resources. Plan governance committee meetings after release notes are made available so you can discuss new features with your team.
- Salesforce Sales Cloud has three major releases a year with new features that must be rolled out and managed according to your needs and unique configuration. Sometimes Salesforce replaces major tools and stops supporting older features, which calls for action and planning. For example, Lightning is a new feature that dramatically changes and improves the UI and requires planning to roll out. You cannot simply turn it on. Depending on the complexity and extent of new features, as well as your number of users, it may take time to configure and roll these out to your org. This needs to be accounted for to allocate resources. Plan governance committee meetings after release notes are made available so you can discuss new features with your team.
- Analogy - you must clean your house before you start inviting people over. Ideally, you want a clean org before you start implementing other apps. In the real world, this is often an oversight. Either way, the process is the same but the effort may take longer on the back side.
- Automated Tools Data Quality Dashboards and Reports Data.com De-dupe and merge tool in Salesforce Human Element Training fundamentals Who, what, when, where and why Have power users give examples of how they identify and address data issues Promotes data stewardship
- 45 minutes