Boost Sales, Improve Forecasting, and Incent Sales CRM Data Hygiene Using Micro-Rewards, Smart-Contracts, and Gamification
Consilium Global Business Advisors announced today that they will present a live webinar on Thursday, February 17th at 11:30am EST. George Mylonakis, founder and CEO of blockWRK, will join Ed Marsh to discuss the use of smart contracts, gamification, and micro-rewards to incent the simple data tasks that are often skipped and result in lost sales, inaccurate forecasts, and dirty data.
Poor data hygiene imposes a high cost on sales CRM and marketing automation data and functions. Low data quality results in a negative cycle in which users don’t trust the data, and therefore don’t refer to it. The data then stagnates further, reinforcing user skepticism and hesitance.
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The impact of this cycle and inaccurate data is most obvious in poor sales effectiveness and missed opportunities, unreliable forecasts, poor opportunity qualification and pipeline management, and web of supplemental project and contact tracking systems.
The long-term costs are not as obvious and include erosion in the value of the company’s data assets, ineffective digital marketing, and poor return on software investments. Ultimately these “friction” costs are reflected in impaired revenue results.
“Dirty data is really insidious,” says Ed Marsh, a strategy, manufacturing marketing, and industrial sales consultant that works with senior managers of middle-market manufacturers to help grow revenue. “I frequently see companies that rely on spreadsheets, ERP modules, or rudimentary databases who are stymied in their digital marketing and sales improvement journey, often just as they begin to get traction. The culprit is commonly low-quality data.”
The solution, however, is elusive. Complex IT conceived interfaces naturally discourage enthusiastic adoption and consistent usage. Even systems with mobile-friendly comfortable user interfaces frequently garner only minimal engagement. Management, seeing the big picture impact of dirty data, declares system use a condition of employment…and nothing changes. Sales managers, tired of maintaining parallel project and forecast tracking methods come face-to-face with openly resistant or passive-aggressive sales teams. And marketing is hostage to the resulting, which significantly impairs the segmentation, personalization, and contextual workflows that are central to digital’s promise of a better user experience.
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It’s time for a better way, and the combination of blockchain-enabled smart contracts, gamification and micro-rewards offers a solution that can work conveniently for all parties. This webinar will explore:
- causes and consequences/costs of poor data
- the value of a smart-contract approach
- how micro-rewards and gamification incent results
- implementation considerations
- costs and likely return for companies.
Mylonakis adds – “We’ve seen this methodology deliver impactful HR results through a reduction in injuries and improvement in employee well-being. That’s great for the individual and the enterprise. Improving CRM data quality, and therefore usage will similarly help each marketing, sales, and customer success worker improve effectiveness, and also drive significant potential benefits for the company. And it’s easy!”