17 December, 2020

3 Facts about Customer Intelligence You Shouldn’t Forget

Customer Journey, Enterprise Sales

Anand Shah

Customer intelligence is imperative for companies looking to build pipeline and close deals, primarily because it can provide critical insight into what prospects need and when they’re more likely to buy. But did you know that the technology you use to collect customer intelligence is just as important as the information you discover? 

Here are three facts surrounding customer intelligence you can’t afford to forget:

1. Data isn’t stagnant.
Today’s digitally transformed enterprises generate a near constant stream of data across every facet of operations, and—as this past year has so illustriously proven—the strategies and influences driving corporate decisions can change day by day.

In other words, what the data tells you about your customer is bound to be different from one week to the next. Take, for example, Nike (see figure below). Over a nine-month period, the company experienced 10 major events that had the potential to significantly alter business strategy. For the Account Executive managing five accounts, there are at least 50 critical signals to be aware of during the year. For a company with 50 reps, that means 12,500 major signals are happening every year. As you can see, it soon becomes impossible to stay on top of each one—which is why many sales targets are often missed.

To keep pace, the process of gathering customer intelligence should be a continuous motion tailored to what matters most at the moment. Look to incorporate a technology platform with advanced AI capabilities, so you can rapidly and accurately comb through vast amounts of dynamic customer data, using specific keywords or other parameters, in real time.

Click to enlarge and see the 10 critical signals revealed in a Nike customer intelligence review over a nine-month period.

2. You’re after the insights, not just the intelligence.
The data you gather is meaningless if you can’t do anything with it. Be prepared to transform customer data into actionable insights and clear trends. You’re looking to create a 360-degree view of your customer’s business encompassing everything from purchasing history and management intent, to executive contacts and key timeline events that might impact decisions. Combine this with your existing footprint of use cases and customer relationships, and you get a full picture of the account.

Getting to this kind of next-level analysis requires technology that not only can extrapolate critical insights but also can render them in an intuitive, graphical interface. Users need to be able to make sense of what they’ve learned and apply it to their day-to-day tasks—from generating sales decks to creating use cases to communicating with executives.

3. It’s not all about sales.
Perhaps the most important thing to remember about customer intelligence is that it influences the entire go-to-market team and strategy. With the right technology in play, the insights derived can make the GTM process more efficient and more scalable. High-demand value engineers can now rapidly distribute their knowledge to sales reps across the field. Sales executives can easily see how reps are leveraging customer intelligence to improve their productivity. Customer Success teams can assess the value of the current partnership. And marketing teams can apply new insights to more personalized campaigns that directly align with sales efforts. 

 

Bottom line: Customer intelligence is a definitive must for today’s high-performing go-to-market teams. But it’s critical to have the support of technology that’s designed for enterprise customer intelligence in the digital transformation age. Databook has purpose-built its platform to optimize the latest in AI, automation, and machine-learning algorithms, so you can quickly and easily turn data into insights the entire team can use. Moreover, Databook drives next-level selling through repeatable, scalable processes—so it’s easier than ever to generate pipeline and win deals.