RV145 - Optimizing CRM Data Architecture | Chris Walker Weekly episode 4
Feb 18, 2024
auto_awesome
Crissy and Charlie Saunders discuss the significance of precise CRM framework for analytics and decision-making. They highlight struggles of manual data interpretation, propose custom CRM objects for structured data management, and emphasize on refining data to drive go-to-market growth.
Implementing the right CRM architecture enhances analytics and decision-making for marketing leaders.
Centralizing data in a custom CRM object streamlines tracking, optimization, and improves conversion rates.
A unified CRM architecture with a single source of truth enables better tracking, reporting, and decision-making for companies.
Deep dives
Utilizing the Right CRM Data for Effective Pipeline Modeling
Pipeline modeling and diagnostics are crucial for marketing leaders to make informed decisions. Instead of manually tracking data in spreadsheets, implementing the right architecture with a solid CRM foundation allows for improved analysis, forecasting, and optimization. Going beyond multi-touch attribution, it is important to differentiate between pipeline modeling and multi-touch attribution as two separate concepts serving different purposes. By having a strong data structure and using a custom object in the CRM, companies can streamline data tracking, optimize the overall system, and avoid wasting resources and time.
The Importance of Data Architecture in Tracking Pipeline Sources
Many companies face challenges in tracking data across various objects in their CRM, resulting in difficulties in assessing conversion rates and optimizing their pipeline. Adopting a custom object alongside distinct pipeline sources and using hero pipeline as a key metric can normalize the definition of pipeline, allowing for better optimization and understanding. By centralizing all relevant lead, contact, account, and opportunity data, companies can have a clear view of the customer life cycle, improve conversion rates, and make informed decisions based on accurate and comprehensive data.
Enhancing Data Tracking with a Unified CRM Architecture
To avoid data fragmentation and inconsistencies, it is crucial to use a single source of truth within the CRM. Rather than manipulating and filtering data in separate tools, the custom object architecture ensures that all data is collected in one place, making it easier for various stakeholders to visualize, analyze, and act on the data. The unified CRM architecture enables better tracking of signals, conversions, and progression within accounts, allowing for enhanced reporting, optimization, and decision-making.
Balancing Attribution and Data Enrichment for Improved Analytics
While self-reported attribution and touchpoints play a role in understanding customer journeys, they should be considered alongside other data sources. The custom object approach enables the incorporation of self-reported attribution and UTM data where available, allowing for deeper analysis and ROI calculations. However, it is important to keep in mind that many signals are not captured through self-reported or UTM data, highlighting the need for a comprehensive tracking infrastructure. The architecture effectively combines attribution, touchpoints, and enriched data, offering a more holistic view of pipeline effectiveness and guiding micro-level optimizations.
Applying a Unified Approach to Account-Based Marketing
For effective account-based marketing (ABM), it is essential to have alignment between sales and marketing teams on tiered account lists and the underlying data within the CRM. By selecting exact accounts and ensuring consistent data across the entire customer lifecycle, companies can accurately target their advertising efforts, align sales actions with marketing signals, and drive better outcomes. Acknowledging the value of a unified CRM architecture, which includes ABM-focused tiering, allows for better decision-making, improved ROI, and increased success in customer acquisition.
In this week’s event, Chris revisits his conversation with Crissy and Charlie Saunders, conveying the critical role of precise CRM framework in heightening a company's analytics and decision-making capabilities.
In our pursuit of clarity and actionability in pipeline modeling, we explore the common struggles marketing leaders face when manually interpreting data through spreadsheets, and propose a transformative solution — a custom CRM object. Building upon the core concept of intelligently structuring data, Chris emphasizes the distinction between pipeline modeling/diagnostics and multitouch attribution, offering insights into the impactful ways refined data management can drive go-to-market growth.
Thanks to our friends at Hatch for producing this episode. Get unlimited podcast editing at www.hatch.fm
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode