A clear benefit of having relationship intelligence data for sales agents is they can access unique data about the customer and use this to their advantage when interacting with them. For example, a customer who signs up actively for discounted one-time services can be offered a long-term subscription at a discounted rate. This allows the business to retain the customer even when there are no discounts but at the same time allow the customer to avail of services at a rate that matches his average buying power.
On the telemarketing front, having important customer-centric data allows sales agents to be able to engage their customers on a more personal level. Your email address will not be published.
Relationship Intelligence What Is It And Why You Need It - Salesforce Blog
Tenfold Sales Blog. Relationship intelligence data, defined.
This report defines and details everything you need to know in preparing for the updated chain-of-sale audit process. In professional services, relationships are everything. Often, service firms expect all communications for an account to go through one account manager. If you are trying to pitch a new service to an account or reach a new contact at an account, all roads usually point back to an account manager. However, you may have other resources that have relationships with this account, either in a different department or location.
Customers want you to demonstrate an understanding of their business, their industry and their pain points.
Instead of tracking performance metrics such as lead response time or average call handling time, RID includes statistics that are unique only to the customer: number of calls made or emails sent, last time they talked to customer support, the number of cycles they have renewed under their current subscription, and so on. Almost any interaction with a customer can contribute to RID.
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However, similar to other intelligence data, specific tools are needed to convert them into meaningful information. Ultimate, this helps a business become proactive in their approach to the customer. Most people who are subscribed to a service for an ample amount of time will encounter what is most commonly known as a loyalty program.
A Smarter CRM Strategy
These promotions are marketed by businesses to entice a long-standing customer to invest in either a better tier of their current subscription or a new service entirely. On the business side, this is important because retention is a key metric in any business, that is, keeping around customers as more than just one-time users.
Loyalty programs are actually a product of basic RID.
When businesses start looking into their customer base and discover which customers have been patronizing the service more than others, they have just identified which customers are more open to the other services they offer.