If you’re like most companies, you’re struggling to get true value out of the sales information in your CRM. One reason is the data just isn’t in there. Despite the capacities of Salesforce, humans fail to enter the data required to really power your sales org. Without the data, your CRM can’t deliver.
Since no one has been able to get people to sufficiently populate their CRMs over the last 20 years, the answer is not in trying to change human behavior.
The answer is in leveraging artificial intelligence (AI) to do the work that humans just aren’t getting done.
Today, organizations are able to unlock operational productivity and gain access to unprecedented insights through what is now called “revenue intelligence.”
What is Revenue Intelligence?
Revenue Intelligence is an AI-driven, data-centric process that gathers, syncs and manages data across all your customer-facing teams to drive revenue.
Maribel Lopez, principal at Lopez Research, defines this as insights, “… that weren’t possible before artificial intelligence. For customer-facing teams, including sales, marketing, and customer success, this is a “game-changer.”
Dana Therrien, Service Director, Sales Operations Strategies at SiriusDecisions exclaims that, “Revenue intelligence providers are leading the charge of delivering on the promise of what sales force automation was supposed to do.”
This is delivered through a revenue intelligence system that uses AI to automatically capture all contact and activity data from customer-facing teams and creates a “single source of truth.”
Companies use a revenue intelligence system to overcome challenges that up until now, have been nearly impossible to solve.
Looking for even more on Revenue Intelligence? Click here to read our latest press release, “People.ai Ushers in New Era for Enterprise Growth with Industry’s First and Only Revenue Intelligence System Powered by AI.”
3 Problems that a Revenue Intelligence System Solves
1. Uncaptured data
Up until now, organizational analytics were at the mercy of the sales, marketing and customer service reps who were responsible for the repetitive task of logging all of their contacts, engagement data and activities into the CRM. While in theory, this happens after every point of contact with a customer or prospect, it seldom happens in practice.
More than half (55%) of salespeople admit that they don’t store lead and customer data in their CRM. Sales reps who do already spend almost 30% of their time each week manually entering data.
Most orgs still rely on this incomplete data for sales reporting, capacity planning, and sales forecasting.
A revenue intelligence system automatically captures all contact and activity data in the sales process from customer-facing teams and populates the CRM in the right opportunities, in the right accounts. It eliminates manual data entry and creates a reliable, accurate CRM.
2. Siloed Data
Data that is successfully captured is siloed in marketing, sales, or customer success.
The notorious lack of collaboration between sales and marketing means that your company misses out on customer trends, opportunities, and doesn’t use a “single source of truth” when it comes to interactions with customers. Data gets stored in different locations (sometimes on a spreadsheet on a rep’s desktop) and isn’t useful for organizational-wide analysis.
A revenue intelligence system eliminates siloes by capturing all data across functions in real-time and pulling it into a single platform that serves as a single source of truth for your entire organization. With this trustworthy data, everyone gets on the same page and uses the same data sets to make better decisions enterprise-wide.
3. Outdated Data
Every moment that passes, your CRM grows stale with outdated data.
The average B-to-B organization’s database typically doubles every 12 to 18 months, and with one in four contacts in the typical database containing critical errors, your CRM quickly becomes an expensive, unreliable mess with missing contacts and activity data. People change jobs, change titles, and often don’t update their LinkedIn until a few months into a new job.
A revenue intelligence system automatically tracks and updates changes in contact’s public data (email, title, phone, address) in real-time so that your CRM stays up-to-date and your marketing and sales reps can trust the data in the CRM to be right when they plan a campaign and make calls.
The People.ai Revenue Intelligence System
People.ai offers the industry’s only Revenue Intelligence System (RIS) that automates the capture of all contact and customer activity data, dynamically updates your CRM and provides actionable intelligence across your CRM, collaboration, business intelligence, and other management tools for sales, marketing, customer success and services teams to realize the full selling capacity of your customer-facing teams.
Success is Waiting for Earlier Adopters
AI Strategy Advisor, Vikram Mahidhar, stated in a December 2018 Harvard Business Review article, that “By the time a late adopter has done all the necessary preparation, earlier adopters [of AI tools] will have taken considerable market share — they’ll be able to operate at substantially lower costs with better performance. In short, the winners may take all and late adopters may never catch up.”
If you aren’t collecting customer activity data, you’re falling behind. This isn’t just about competing, it’s about survival. Whoever starts collecting data first – WINS.
Learn how you can capture all the data with the People.ai Revenue Intelligence System.