What Is Relationship Intelligence & How to Use it to Boost Your Sales

Angie oversees Cazoomi's operations. She enjoys traveling, loves dogs, is a 1% Pledge supporter, and a start-up entrepreneur with investments in several APAC startups. 6 minute read

Relationship Intelligence How to Use it to boost Sales

Sales are all about building relationships. But this takes time and, quite frankly, a lot of effort. Consumer preferences and needs are rapidly changing. By the time you’ve built a relationship with a customer, they already need something else. Competition is also getting stiffer by the day and businesses try to outdo each other in an effort to expand their market share, boost sales, and grow their bottom line.

Quite the tall order, right?

In this landscape, should you even be bothering to build relationships? Why not just try and sell to whomever and hope for the best?

Well, that definitely doesn’t work. Without the right information, you will be throwing marketing ideas to the wall and hoping for something, anything to stick.

Data is what drives sales, especially in this digital era.

And you have bucketfuls of that, so it’s not all doom and gloom! Really, it’s not — I was just trying to make a point.

Your customer relationship management (CRM) solution is constantly capturing valuable data about your prospects and existing customers as well as partners.

However, just knowing how many customers you have and what products they bought the previous month is simply not enough. To improve your chances of growing your sales, you need to dig deeper.

You need data that tells you more about your prospects. This data needs to reveal valuable intel such as how often your prospects interact with your product(s) and if their problems have been solved.

Mining such crucial data can be hectic even for the most determined of sales and marketing teams. Luckily, there’s a solution to this.

Relationship Intelligence!

Faced with unique challenges that are hampering growth, businesses have now discovered an effective approach that has revolutionized the way we use data to refine and execute marketing campaigns that ultimately deliver real results.

What Is Relationship Intelligence?

Relationship intelligence is a process that helps to generate actionable insights based on relationship data from your clients, partners, affiliates, and colleagues. Every time you communicate with your customers, for instance, either through email or telephone, the data is captured and processed through a relationship intelligence platform.

The end result is actionable data-driven insights that you can now use to plan and execute customer-focused marketing campaigns that ultimately boost your sales.

But why should you adopt this new strategy?

Simple: your sales figures may be good but they could be better. Relationship intelligence is the push that your sales efforts need to reach new highs. With relationship intelligence as part of marketing strategy, you will achieve the following:

1. Personalized campaigns and pitches: Ditch the one-size-fits-all strategy for your digital campaigns. Relationship intelligence helps you to create personalized campaigns and pitches from data you already collected. Your campaigns will resonate better with your target audience and subsequently boost your sales.

2. A deeper understanding and knowledge of your prospects: You get to better understand what your prospects need, their purchase behavior, and how they prefer to interact with your brand.

3. Identify the right prospects for your products: Not every prospect can be your customer. If you have a niche product, you will need access to the right data to enable you to zero in on your target market easily.

4. Reach new customers before everyone else in your industry: The right kind of data about your prospects enables you to react faster with customized content. By doing so, you will boost your competitive edge and position your products or services strategically.

5. Significantly reduce the time and effort used to research your prospects: Marketers spend countless hours researching their prospects – a task that eats up valuable time and money. Relationship intelligence remarkably eliminates time wastage by sourcing the right data.

The key to reaching key decision-makers lies in relationship intelligence. It’s no wonder that 77 percent of B2B sales and marketing professionals believe personalized marketing experiences make for better customer relationships.

However, to get the best out of relationship intelligence, you need the right set of tools that will help you gather the right data for your marketing campaign.

AI-Powered Solutions to Fuel Your Relationship Intelligence

Most businesses that have adopted relationship intelligence strategies are deploying AI-powered solutions to enable them to find deeper connections with their customers. These tools are effective in finding relevant information from external data sources about prospects and automatically identifies suitable connections with them.

Information such as who your prospects went to school with, who they’ve worked with, what they’ve worked on in the past, what they are working on now, current colleagues, their niche significantly enhances your chances of creating a deeper connection with them.

Salesforce Einstein, for instance, is an effective relationship intelligence tool that scours through various online sources to uncover valuable customer insights and discover new leads that are, in turn, shared directly with your CRM.

The truth is that AI is transforming digital marketing today. Marketers are increasingly using AI-powered solutions to optimize their marketing operations and effectiveness and the availability of key data.

These tools are finally shining some much-needed light on data that was just floating around the web and bringing it back to one central location where it can be accessed and used accordingly.

Well, it doesn’t end there.

CRM integration using SyncApps, for instance, will further boost your relationship intelligence by helping you to gather more insights into your customers’ behavior. With integrations like Mailchimp for Salesforce, Constant Contact for NetSuite, Constant Contact for Dynamics 365, SyncApps integration seamlessly syncs all your business data.

SyncApps Integration

The SyncApps integrations are powering various industries from nonprofit to eCommerce, from education to retail, from medicine to real estate, helping marketers to market more effectively and sales reps to sell more by making it easy for them to build stronger relationships and capturing the attention of prospects.

Conclusion

Relationship intelligence is the emerging trend that you want to get on board with as soon as possible. It is the key growth driver for many organizations today.

Without decent sales figures, your business will eventually lose its competitiveness in the marketplace. You need to start consolidating your data sources using tried-and-tested methods such as AI-powered tools and then throw in integration to further help you gain additional insights into your customers and partners.

Want to further boost your relationship intelligence and more? Affordable integration is just a click away!