As companies become more connected and more skilled at data collection, there is a glut of information that many of them aren’t sure how to organize. Not to mention the number of stakeholders vying for access to that data often causes information to get watered down to make it useful for everyone. This prevents it from being used for more specific tasks. When it comes to customer success data, this is a real problem.
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The good news is there is enormous value in leveraging unstructured data to solve this problem. Forbes Corporate Communications found that, “53% of top-performing companies are investing in CRM to drive sales productivity.” Companies are recognizing the importance of systems that leverage data to upgrade customer relationships, and there are a growing number of innovative solutions hitting the market to help companies use unstructured data for everything from sales, to marketing, to customer success.
Data you didn’t know you had
One of the biggest shifts in CRM thinking as of late is the shift to data that has been underutilized. Hal Howard, CEO and co-founder of Komiko , an AI company for CRM, explains, “Customers often have multiple touch points with the company and most of those touch points are not CRM users. This can leave account managers in the dark about what the customer is experiencing and whether the right resources are engaged.”
Companies are looking for CRM and analytics solutions that can effectively grab all the information that has gone unexploited. Howard went on to say that the key to solving this problem is, “mining email and calendar data to produce a comprehensive timeline of interactions with the customer and providing account managers insight into those activities without any additional data entry or software being deployed to the other customer touch points.” In doing so companies can identify a series of new insights that inform the creation of new best practices, that will inevitably upgrade customer success.
The previous ways of evaluating customer success were all about measuring a customer’s lifetime value. The growing complexity of B2B relationships and the advent of the user-driven economy have put more emphasis than ever on the customer relationship over short-term revenue gains. […]