See original blog post here.
Innovation across the Technology, Media, and Telecom (TMT) industries is moving at a rapid pace — to the tune of 73% of salespeople utilizing new tech to close deals in less time. In order to stay in the game, it is vital that your organization starts investing in ways to optimize sales cycles… but where to begin?
Though the implementation of new tech has been at an all-time high across industries, 57% of sales professionals are still falling short of their quotas. With all this new technology, what’s missing? What is going wrong, and where?
One major pain point across industries: lost time. Though their organizations may have adopted these new innovative technologies to support their staff, 72% of professionals spend up to an hour a day on data entry and making sense of disparate CRM records instead of on revenue-generating tasks. When time is of the essence, minimizing mundane tasks means everything to the efficiency of complex sales cycles.
Data is a business’s most vital ally. It unlocks insights into the customer journey that can have a great impact on your bottom line. Data automation is revolutionizing the TMT industries by making manual data entry a thing of the past, but when it comes to harnessing the power of data, AI-powered relationship intelligence automation (RIA) is the real game-changer for all three verticals:
TECHNOLOGY: INCREASES RELATIONSHIP VISIBILITY AND RETENTION
Tech companies are at the forefront of digital change — an attractive quality to top talent. But as the market becomes more and more competitive, there is an embedded fear that the loss of a key salesperson will mean the loss of their key accounts. Since they were the only ones that had a relationship with “x” account, who’s to say that account won’t move on with them?
Introhive’s RIA platform eliminates data silos, creating visibility across your entire company. As Introhive automatically parses data for crucial insights, it allows for multiple points of contact within your organization, unlocking information that can be used by all departments to maintain positive customer relationships.
Across industries and especially within tech companies, making information widely available internally triggers a cultural change. With all the information AI-powered data automation uncovers, ensuring relationships prosper outside of the individual becomes a force of habit. Not only will you be able to retain clients in the event of a departure, but you’ll find that your top talent sticks around as well, as they’ll finally be able to focus on what they do best: closing deals and generating revenue.
MEDIA: ALIGNS SALES AND MARKETING DEPARTMENTS
The media industry is all about growing your network and maintaining relationships, and as much as one person may want to do it all, it takes a village to keep your clients happy. Sales teams, marketing teams, and creative departments need to be in sync in order to deliver on contracts — but when relationship intelligence is disparate, the majority of the time is spent wondering who spoke to whom and what resulted from those conversations.
When it comes to client drop-off, 49% of respondents said a communication breakdown is the greatest culprit. Other reasons for the gap between sales and marketing include broken and flawed processes (43%), and sales and marketing being measured by different metrics (40%). Understanding the hurdles can help B2B organizations overcome their challenges, and having quality, translatable data can do just that.
Introhive’s software populates and enriches your CRM, arming your talent with powerful data and tools built to provide them with crucial relationship insights. With all of this information accessible throughout your organization, your teams can work more efficiently and begin to work together to provide more data-driven results, retain existing customers, and expand your organization’s network.
TELCO: BREAKS DOWN INFORMATION SILOS
Telco corporations are huge, siloed companies. Sales cycles within telco companies are increasingly complex, and aligning departments is crucial in keeping customers moving along the sales cycle. Relationship mapping breaks down those walls, but in order for it to work, you have to make your data work for you.
Working as a team is essential in retaining business, but when information is essentially held hostage within different departments, there’s no way to determine where improvements can be made. The data housed within sales tools can be useful in showing the true value these contacts have — as long as that data is of the highest quality.
Introhive arms your team with clean, accurate data that drives powerful insights important to every department throughout your organization, resulting in increased collaboration across departments and accelerated movement through the sales cycle. By opening up these valuable relationships — especially with C-suite — each department within your organization can have a hand in growing revenue and retaining valuable relationships.
CRM data automation gives TMT organizations the potential to thrive — but that depends on whether or not the technology is correctly implemented. Relationship intelligence automation eliminates time-wasting information gaps and human errors to make your data work for you. Spend more time on generating leads and revenue, and less time filling in the blanks.
Ready to accelerate your sales cycle with AI-powered relationship intelligence? Request a demo today and see how Introhive’s data-driven solutions can transform your business.