The Hidden Data Gold Mine Within all Businesses
Why email communication is an undiscovered gold mine of critical information; why the ‘CRM Evolution’ never happened; and why businesses must dare to be open to stay ahead of the competition.
Real life information can otherwise be classified as ‘unstructured data’, and being able to tap into such is a major challenge for technology providers across the globe – supposedly, unstructured data accounts for 80% of all businesses.
But, not all businesses in need of new technological advancements are aware: a) that unstructured data exists; b) that said data contains essential information; and c) why they need it automatically captured and analysed. In reality, most businesses are oblivious that there is a great deal of data stagnating within their day-to-day technological tools.
Take email communication as an example: most businesses do not realise that their online exchanges with prospects and clients are abundant with critical information that can be used to measure engagement and penetrate accounts.
Automatic Data Capture (and then Some)…
Secondly, even if businesses were in possession of said critical data, they need to be able to act upon it. What makes companies competitive, agile and innovative, is their ability to access data and transform it into something actionable; technology should be able to transform unstructured data into predictable business scenarios and allow for evidence-based informed decisions. It should be able to leverage historic data and decode complex human interactions using artificial intelligence. Ultimately changing the way business is conducted on a day-to-day basis.
What CRM Evolution?
This brings into focus the bigger picture of the so-called ‘CRM Evolution’. Despite claims that customer relationship management (CRM) has gone through an alleged renaissance period… in reality, we’re still stuck believing that a first-rate CRM is one that: a) eliminates time-consuming and costly manual data entry; and b) is easy to use. In reality, we’re stuck behind a lack of adoption, a lack of data input, and a lack of real insight. It’s a sad reality that the majority of companies still employ browser plugins, reporting/analytical packages, and separate mobile apps…
Dare to be Open
Put simply, without tracking email communication, companies don’t have the 360 view of account activity that they are promised by most first-rate CRM’s. And, in such a competitive environment, businesses can no longer afford to accept limited account views. Businesses need to bring customer relationships into focus and dare to be open. Take Bullhorn’s CRM as an example. Bullhorn provides native, automated data capture, coupled with real time predictive analytics for:
- Conversation Activity – Real-time relationship insights at a massive scale
- Flagged Emails and Trigger Words – address client escalation instantly and increase customer satisfaction
- Relationship Mapping – break down departmental silos and understand who knows who
- Executive Engagement – measure engagement and increase account penetration
- Opportunities Requiring Action – focus on the most pressing and lucrative opportunities
Bullhorn unlocks the value of relationships and brings them into focus. If your business dares to be open, get in touch.