In the post-CRM world, organisations need to take advantage of the data they already have to inform sales decisions and improve success rates📷In the post-CRM world, customer revenue optimisation can helps enterprise sales teams beat their targets.
Customer-relationship management (CRM) changed the way that sales teams operate — suddenly enterprise sellers had a system of record for contacts, opportunities and accounts.
As with anything, there was always a push back about sales people entering in data, because they didn’t necessarily feel they were getting the value back; and certainly it was true that the data in the CRM system didn’t enhance the quality of their engagement with customers.
What it did do, was serve as a “very good foundation”, says Áine Denn, co-founder and EVP at Altify. Now, the data that’s in CRM can be used to generate insights and generate intelligence that can be used across the organisation.
We’re now in the “post-CRM world,” says Denn.
Providers, such as Altify, can analyse this data by applying augmented intelligence, or ‘AI’ to it, to help guide sellers and sales managers. “As things continue to progress, hopefully they will be more predictive and propensity to buying and predictive buying information as well,” explains Denn.
Building on the data that’s already out there
In the post-CRM world, it’s all about building on the data that is already out there. There’s already data about customers, interactions, activities, sales best practices and the application of the sales methodologies. Other data sets will include; customer satisfaction, customer success and customer support data. Applying augmented intelligence to all these different data sets should then lead to revenue growth, through making sure that everybody has a far better view of the customer.
Customer revenue optimisation
Customer revenue optimisation (CRO) is a new category for enterprise selling.
CRM is synonymous with selling up to this point, and people have created a huge amount of equity by putting information into the CRM system.
But, the time has come to combine the traditional CRM system, with improving; customer engagement and the personalisation of every selling experience and every customer’s experience with sellers. “Those two elements come together in customer revenue optimisation,” explains Denn.
“CRO,” she continues, “is about having a platform that allows best of breed technologies, plus the full revenue team to engage with the customer very much at the centre of everything they’re doing, so they deliver value on every customer interaction.”
Pointing to Altify’s own research, Denn says that 62% of meetings still don’t progress to a second meeting, according to sales people. What does that mean? Well, there’s a lot of sales and effort that isn’t delivering value at the moment.
“Similarly, you know the customer support people are probably hearing very valuable information and intelligence about an organisation that could have helped sales, but it’s not being harnessed and it’s not being fed back in,” she continues.
“That’s really what customer revenue optimisation platform is; it’s technology, methodology and strategy, which will help every employee capture their interactions with the customer and map those interactions to the customer’s goals, their people and what their desired results are.
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