Business Relationship Intelligence: What Is It?

Business Relationship Intelligence: What Is It?

­

You’ve heard of Business Intelligence (BI), the term that refers to software applications that analyze an organization’s raw data to mine it, process it, query it, and/ or report on it. But, have you heard about Business Relationship Intelligence (BRI)?

In an ever-changing environment, business, and sales are about much more than the historical, transactional relationships. Today, it’s about the relational relationships you have with your customers, partners, and clients. In fact, 89% of customers have said they will (or have) stopped doing business with a company after a single poor customer experience (CMO).

BUILDING Relationships

So, how can we expect our sales teams to properly build and manage customer relationships with traditional CRM systems? As it stands, sales professionals are bogged down by data entry with 71% believing they spend too much time on data entry (Toutapp). Yet, Salesforce reports 91% of CRM data is still incomplete. Data is key to the success of any relational relationship. SalesWise believes no sales team should be limited by the data (or lack thereof) in their CRM system. That’s why we decided to build a solution intelligently designed around the way in which relationships really work! With a full 360-view, our Cross Application Relationship Data (CARD) platform aggregates data from every message, meeting, document, and person involved so that you gain a clear view into the existing relationships as well as new relationship opportunities.

EMPOWERING Relationships

As many sales leaders know, relationships don’t exist solely outside the walls of your enterprise with your customers. Sure, your sales team is central to that relationship, but so are your legal, finance, and onboarding functions. Rarely are sales ever one-to-one any more. Today, sales are many-to-many with multiple individuals involved in the sales cycle and customer experience processes. Gartner found 7-8 people are typically involved in all areas of the buying process for enterprise tech sales; while another 5-6 people occasionally participating. That’s a lot of relationships within the business relationship.

According to the 2015 IDC Workforce Transformation Survey, employees spend an average of 7.36 hours per week trying to find information and an average of 8.15 hours per week trying to find people or experts. SalesWise, as a leading BRI solution, believes in greater productivity through the democracy of data. The only way to empower your relationships is to ensure your sales team and non-sales staff are working effectively and efficiently together to shorten the sales cycle and enhance the customer experience. A true BRI solution ensures everyone has access to your relationship data. In the end, not only are your staff empowered; but, the sales leader is empowered with complete and comprehensive data that keeps them in-the-know and better prepared to lead.

 INSPIRING Relationships

A major factor in the feeling of empowerment for any sales leader or team member is access to insights. With traditional data-entry systems, we’re relying on a sales professional to assess and enter the information (a.k.a. data) they believe is the most beneficial… after the fact. The truth is relationships are happening in real-time. This antiquated system is flawed.

A BRI solution doesn’t rely on data entry, nor does it rely on subjectivity. A sales professional solely focused on his/ her relationship with a customer will never see the connections that customer may have with other individuals in your organization (e.g., procurement, legal, etc.), or the additional customer connections they may find within the customer’s business to further the relationship. With SalesWise, our customers discover an average of 5 – 8 times more contacts and increase visibility by 300% beyond their CRM system. These insights inspire actions that lead to stronger relationship connections.

Relationships are all around you. So, why shouldn’t your sales technologies work the same way? With SalesWise, we gather relationship data from your CRM system, inbox, calendar, contacts, messages, documents, and more to share real-time critical intelligence. Business Relationship Intelligence (BRI) is the newest industry made up of innovative software applications that analyze an organization’s data to mine, process, query, and report on relationship insights for greater business and sales success. To learn more about SalesWise, the leading BRI solution, visit www.saleswise.com/the-platform/.

1 reply

Trackbacks & Pingbacks

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply