So, What is Relationship Intelligence?
Relationship intelligence generates insights based on the relationship you share and the way you communicate with your clients, colleagues, and business partners. The data is collected through different modes of communication like emails, phone calls, and other sources, which are further analyzed through relationship intelligence technology.
The data-driven output of relationship intelligence helps marketers and retailers to understand, plan and communicate with their audience effectively to get productive outcomes for your business.
Although relationship intelligence is not based on “EQ (Emotional Quotient),” it is related to a simple but effective idea: the way you deal with people is the key to closing a deal. Thus, you must learn from your past experiences. Train your sales team to approach people in a way that will help you close deals.
Wondering what are the advantages of having relationship intelligence in your business? Read our next section!
What are the Benefits of Relationship Intelligence and Why should I Adopt It for my Business?
With relationship intelligence, you can create a workforce where relationships thrive. Here are some of the main benefits why you must apply relationship intelligence to your business:
Relationship intelligence helps you establish better relationships with your team. When working on a task together, you are able to create better synergy and growth when a healthy relationship with your colleagues. In all, with relationship intelligence, your teams will learn how to communicate, grow and create quality interactions that help them generate leads for the business.
Build Better Teams
Teams that have good communication are less likely to have malfunctioned. Focus on conversations that help you grow your productivity, believe in synergy, and quickly see all sides of a particular issue. This allows them to make timely decisions, get better insights, discover more opportunities, and upscale the business.
Coach For Performance
Relationship intelligence provides visibility into the team’s motives, strengths, and conflicts. Companies who apply these insights to their daily routine can enhance their team’s productivity and build a culture of resilient relationships that are responsive to both- challenges and opportunities.
Focus On Right Leads
As a marketer, seller, or retailer, it is crucial to focus on the ideal deals and nurture your leads. You cannot waste time on a lead or sale that will be abandoned at last. Thus, work on capturing better leads, nurturing them, creating a solid relationship with them, and encouraging them to complete the sales cycle.
Tools To Build Relationship Intelligence
With these relationship intelligence tools, you can bridge the gap in contact databases and generate new leads for your business. So consider these solutions when empowering your relationship intelligence:
A staple to many organizations, CRM is a system that has unmatched potential to grow your business. To get more insights and data on relationship intelligence, a company must dig into their customer data storage, data obtained from customer interactions, and third-party data.
Data Provider or Data Calculator
In-house data mining is cheap but time-consuming. So if your sole purpose is to source data, and you can afford it, you can take the help of data providers. They will add relevant data to your existing databases and help you drive more insights for your business.
Getting insights from piles of data can be tedious and put your data analysts to sleep. Not just that, it will make it challenging to create a full 360-degree view of your potential data and leads. But with a Data visualizer to rescue, it will become easy for you to digest the information of your data.
How? Data visualizer tools will represent boring data into attractive graphs and charts.
Most of your communications happen through emails. It has all the information about your business from job titles, phone numbers, events, and more. However, when your email data is synched with CRM software, all of your valuable information is easily stored and becomes accessible to engage future customers.
Ways Through Which Relationship Intelligence Can Boost Your Sales
Want to know some of the most exciting ways relationship intelligence can help you gather information about your customers and make them enter your sales funnel? Well, look below! Here we have added a quick sneak peek of how relationship intelligence is changing the business landscape and helping you be more profitable.
Nurturing Leads With Multiple Contact Points
Would you like your customers to be your advocates? If yes, you must build a solid emotional bond with your customers and invest time in nurturing it. Do not limit your engagement to a few people. It will minimize your chances of reaching more ardent customers.
Use relationship intelligence and target your customers from multiple contact points. This way, you will deepen your relationship, reach them much faster, nurture your leads and increase your sales cycle.
Sharing Best Practices With Customer Service
The next step to boost your sales through relationship intelligence is tracking and working on your customer service. Keep track of your customers, including emails, calendars, and social media interactions, to understand how they engage with clients.
This strategy helps you spot the impact of exemplary customer service on the right people. Through this, you will build a strong relationship with your customers and manage your leads more effectively. So are you ready to make a happy and loyal customer base for your business?
Use A Personalized & Persistent Communication Platforms
The insights you get from relationship intelligence will help you uncover your customer’s communication preferences. You can know whether they expect regular updates via marketing platform, do they like to learn more about your new products, which products are their best choice, and more.
Gather information about your lead at the beginning of a new relationship. Grow your relationships organically with your customers, contact them at least once a month, and update them about your products. Work on knowing your customer better with fun, personal and consultative information.
Provide Value To Customers For Building Better Relationships
Every relationship is based on “the give and take mantra.” Thus, if you want customers to sing praises about your products and services, you need to share valuable information with them. In doing so, you demonstrate your concern for their professional success and well-being.
Thus, add value to your sales support so that they can lure customers with exclusive access to new products, webinars for giving technical assistance, and provide expert supervision about the product. Not just that, you can also offer rewards and invite them to speak on a panel discussion.
Do Your Research To Delight Your Customers
You must understand your customer’s needs and motivations to build a relationship with them. But, how will you do so? By finding people who have everyday needs and mentioning them.
Keep an eye on their social media activities, engagement with marketing content, and purchase of products. You can also set up news alerts to make one-on-one communications more meaningful. Finally, with relationship intelligence, you can gather comments that matter and add delight to your customers’ experience.
Streamline The Peer Referrals Process
Once you have established a relationship with your customers, it’s time to ask for peer referrals. Do not hesitate to ask your most qualified customers for referrals. It’s crucial to cherry-pick the essential referral requests to build strong relationships in the network.
Track your customer’s change in identity, whether it is a new email address, a new job profile on LinkedIn, or a new post from a Twitter account. Through this, you will know your customers’ tastes and preferences. This way, you will hit a high rate of getting more customers to your business and increasing sales.
Relationship Intelligence In A Nutshell
Maintaining relations with the people around you is all that matters for your business to be successful. So, a good relationship with your customers will encourage them to buy more goods from you, and a bad reputation with your customers will motivate them to shift to your competition.
If you want to lead your industry, focus more on building and growing your relationship intelligence. The dynamic and heartfelt conversations with your customers can grow your business by leaps and bounds.Register Now!
What is Relationship Intelligence?
Relationship Intelligence provides data-driven insights to help drive positive outcomes by providing companies and individuals with insights for:
- Understand the data
- Plan for solving problems around
- Communicating in the most effective manner
Why do you need relationship intelligence for your business?
You need relationship intelligence for your business to:
- Reduce the amount of prospective research
- Find the right prospects to close the deal
- Gain deeper knowledge of their prospects
What are the ways to expand your relationship intelligence?
The ways to expand your relationship intelligence are:
- Use a more personalized and persistent approach with people you collaborate
- Create customized content for your customers
- Provide valuable insights, information, and products to your customers
- Nurture leads through multiple touchpoints
How to drive data for relationship intelligence?
To drive data for relationship intelligence you need to make conversations with your peers, teams, management, and customers. All these conversations you will share on calls, emails, and texts will work as a data house to get insights into your relationship with people around you.