5 Reasons Your CRM Is Costing You Revenue
The article outlines five critical ways CRM systems undermine revenue by providing inaccurate competitor data, incorrect closed-lost reasons, lacking actionable context, oversimplifying deal outcomes to a single factor, and failing to document strengths, emphasizing that relying solely on CRM data rather than comprehensive buyer insights leads to misguided go-to-market strategies.
YOUR CRM IS LYING TO YOU YOUR CRM IS LYING TO YOU
5 Reasons 5 Reasons Your CRM is Your CRM is
Costing You Costing You Revenue Revenue
1) YOUR COMPETITOR DATA IS INACCURATE
65% of deals are tagged with the wrong competitor
Win-loss data shows that buyers report a different primary competitor than what's logged in the CRM on nearly 7 out of every 10 deals.
Are you aiming at the wrong target?
2) YOUR CLOSED-LOST REASONS ARE WRONG
85% of your closed-lost data is completely wrong
When we compare the buyers' reasons for a deal being lost to the data documented in the CRM, buyer and seller data only matches up 15% of the time.
Most sellers are missing vital insights into why they're actually losing deals.
3) YOUR CRM DATA DOESN'T OFFER CONTEXT
44% of closed-lost reasons don't tell you why you lost
Data that only explains the outcome of the deal (i.e., "Lost to Competitor") isn't actionable. Data that isn't actionable can't help you win more.
Beyond being inaccurate, nearly half of your closed-lost data is impossible to take action on—and is therefore useless.
4) YOU'RE NOT GETTING THE FULL STORY
There are 4–5 factors that determine every deal's outcome
The average buyer interview explores 4–5 impactful reasons about why a deal was won or lost.
In contrast, CRM data offers you a single reason ... picked from a drop- down menu.
Can you really trust your CRM data to tell you why you're winning and losing?
5) YOU'RE NOT DOCUMENTING YOUR STRENGTHS
Most CRM data ignores why you win
Positive Decision Drivers (the things you did well in a deal) are rarely documented.
Yet, doubling down on strengths often yields faster improvement to your win rate than attempting to fix weaknesses.
Your CRM isn't your source-of-truth, your buyers are. Don't base your go-to- market strategy on dirty data.
Want to learn more?
We'd love to show you the difference between CRM loss data and comprehensive win-loss data based in buyer feedback with a free buyer interview.
Get a free win-loss interview at clozd.com/free-interview