Ideas, concepts, solutions, news
Using Sales Intelligence for Better Account Management
Studies show that almost a quarter of a sales person’s time is spent researching to prepare for sales calls, but only 35% of a sales person’s time is actually spent selling. The volume of data a sales person must consume to actively manage a pipeline would cause morbid obesity if data were caloric.
Sales intelligence (or SI) refers to technologies, applications and practices for the collection integration, analysis and presentation of information to help salespeople keep up to date with clients, prospect data and drive business. Although some aspects of sales intelligence overlap with business intelligence (BI), SI is specifically designed for the use of sales people and sales managers. Unlike CRM and traditional BI applications, SI offers real-time analytics for current sales data and helps with recommending actionable, relevant information. SI offers unique insights into customer patterns and trends, and delivers sales opportunities.(1)
The reliance on sales intelligence is becoming more important as the world of sales is changing with business often being conducted without a word ever uttered. Customers today would rather not have an in-person meeting or telephone conversation. Gartner predicts that in 2020, 85% of all customer relationships will be handled without talking to another human. This is creating a greater dependence on quality data and objectively providing insights to move opportunities through a pipeline.
Data, Data, Data
Data is just raw information about your customers. Data is historical and does not predict the future. Data is essential, but on its own, it has little value. Emails, events and documents are often overlooked as a source of data. In fact, data from emails, events and documents is of very high quality, but it requires context because without context, it’s just data.
Context is required in measuring customer engagement. Context helps in providing the weight for quantifying emails, events and documents. These interactions, inbound and out, influence a customer experience and in turn, the customer relationship. These experiences, when summed, create a level of customer engagement.
For example, the time an email recipient took to respond to your email or if there was a response at all. How many meetings have taken place and how many more are scheduled? These interactions can be measured once context is applied. An email response has a specific weight, but an email responded to immediately has greater weight. One meeting has a weight, but several meetings scheduled in the future demonstrates deeper engagement so these would have greater weight. These positive customer experiences create a more fully engaged customer.
A more engaged customer will respond quickly, accept more meetings and will connect with others in the eco-system. A fully engaged customer is more likely to be open to additional sales opportunities and will be more loyal. Capturing this data and providing context can offer a customer view that can be leveraged to accelerate your pipeline.
Data ingested into your CRM fuels the analytics to provide customer insights. Imagine having access to the entire conversation and understanding the level of customer engagement? How would quality sales intelligence impact your communications to accelerate the opportunity through the pipeline? Would being able to measure and understand the customer’s engagement level help make you more successful? Knowing that customer engagement instills loyalty, would you want to leverage engagement to data mine new opportunities in existing accounts and have greater confidence in continued renewals?
Customer Engagement Scoring
Komiko is a smart way to collect, manage and produce quality sales intelligence. Komiko automatically captures all customer interactions—email, documents and events, then organizes the data to fuel your CRM. You get a complete picture of your customer, including conversations, connections, activity level and history for a complete view of the customer. You can quickly learn:
- Who on the client side is an influencer or advocate of the opportunity
- Which of your team members is connected to and engaged with your customer
- When was the last inbound/outbound interaction, meetings held and what lies ahead
- An audit trail of communications, interactions
- An engagement scoring of all recorded interactions for a complete view into the customer relationship
- How to prioritize and better manage accounts by measuring the level of customer engagement, value and other attributes.
Sign up for a free 14-day trial to see how Komiko captures high quality data from email, documents and attachments. Learn how Komiko creates sales intelligence that helps you get a 360 degree view of your customer to drive more opportunities, and better manage your sales pipeline. Learn how account management is easier when actively managing customer engagement.
- 1. https://en.wikipedia.org/wiki/Sales_intelligence