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Companies, big or small, have a bewildering array of relationships forming: top up and top down report, cross departmental communication, client contacts, team interactions, colleague collaboration, etc. But there was no way to know about the nature of the relationships between businesses, clients, and others they do business with — until now.

AI changing the face of Relationship Management

Relationship intelligence is the emerging trend and leverages AI to extract meaningful data from your customer interactions. 

Businesses can capture a comprehensive and accurate set of information about each contact, analyse it and proactively deliver insights that can help in making smarter business decisions. They can further enrich their CRM data to reveal referrals, introductions and opportunities within the organisation’s collective network.

What can Relationship Intelligence do for your business?

Relationships are valuable assets for any business, and relationship intelligence can help a business succeed by identifying the strongest path to decision makers. 

  1. Analyse and interpret information from customer relationships:
    Have you ever wondered:

    a) Which competitors are you losing to, and why?
    b) What other company your prospect was considering for the sale and why?
    c) The reason for the sudden decline in sales in a quarter

Instead of focusing your time and resources on deciphering different data sets, use relationship intelligence to understand your prospect’s behaviour and their relationship with your organisation, and make the necessary adjustments to your growth strategy.

  1. Identify existing relationships for business growth opportunities:
    While expanding the customer base continues to be the main focus for many businesses, nurturing existing business relationships is the key ingredient for growth. Just like how we evaluate ROI for monetary gain, Return on Relationship (ROR) is a real value businesses can lean on and can be accrued over time.

  2. Focus on the right leads:
    If you have 100 leads to follow up, who would you prioritise? Would you respond to the latest communication received, or on the deal with the highest potential? It’s not about the number of customers you reach or the biggest, it’s about reaching the right ones. Use relationship intelligence to focus on customers who will be fully engaged with your buying process.

    The platform can also send reminders to sales staff while offering complete visibility to sales leaders, letting them monitor sales activity and make accurate predictions for the future. 
  1. Remove silos practice and boost collaboration between the teams:
    Relationship intelligence brings your marketing, sales and customer success teams together to build stronger pipelines, unlock hidden opportunities, boost forecast accuracy and improve conversion rates by equipping them with actionable, real-time intelligence.
  1. Boost your customer engagement:
    Customer expectations are at an all time high and they expect personalization at every point of their buying journey.

    With a relationship intelligence platform, gather intel about your leads at the beginning of a relationship. Optimise your customer interactions with personalised messaging, and by understanding their needs and motivations.

How does a Relationship Intelligence platform work?

  1. Capture uncaptured data:
    Most business development executives and sales reps admit that they do not store valuable customer and lead information in their CRM, and those who do spend an immense amount of time manually entering the data.

    A relationship intelligence platform can extract data from multiple sources like text messages, email, calendar, phonebooks, LinkedIn, etc. and is fed into a central repository.

  2. Map your path to close deals:
    The platform’s algorithm creates a ‘relationship map’ to identify meaningful connections within the organisation’s collective network of relationships, and suggests the best path to reach out to a prospect.

  3. Stay up-to-date with prospects and clients:
    Automated alerts are delivered to your inbox when the dynamics of the relationships in your collective network is changing.

Introducing Mitibase:

If the pandemic has taught us anything, it’s how important human interactions and relationships are in this hyper-connected world. 

At Mitibase, we understand the importance of an easy-to-use tool that can effectively manage your relationships. Our platform was developed not only to help firms build great relationships, but also to monitor and analyse information for providing deeper insights, for e.g., how much funding a company is raising, whether your relationship with a potential/ existing customer is waning, or if it’s time to reach out for making a sale.

Interested to know more? Book your demo today!

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