From relationship management to relationship intelligence
It’s whom you know, and what you know about them…
90%
Of professional services firms see growth potential for their business
56%
Of firms' mention winning new business as #1 challenge
63%
Of firms expect to invest in CRM technology
37%
Of firms worries about finding a platform that integrates well
"I need to know more than just who knows whom. I want insight into the depth of relationships. Who on my team has stronger relationships with which customers and prospects? And what do we know about them?"
Setting the scene: what is different in 2023?
The professional services market is always evolving. But the change that companies are experiencing now is more profound than ever before. Several factors are at play:
Maintaining relationships and networking is nothing new - knowledge companies and firms that rely on personal connections have always built on the value of who knows whom. But with the radical changes occurring, sticking with what you did in the past no longer works.
Talent is scarce and retaining people is a challenge as well. New technology is creating a playing field for new types of competitors. Technology companies can rapidly automate and digitize processes and services. Knowledge and services that used to be important assets of professional service providers are now becoming more of a commodity.
All these factors increase the need for better and smarter relationship management. Companies have to be able to nurture and build relationships, to stay ahead of the game.
“We want to increase business in our existing customer base. How can we stimulate and optimize cross sell? Where are our white spaces?”
Most of your relationship data is not in CRM
Getting a sales team involved in your CRM system is hard enough. Getting lawyers or consultants to use a system is even harder. And it's not because they lack discipline or technical skills; it's primarily a matter of precious time. And, what do they get in return for that? That's why it's a case of getting the right and relevant information to them, rather than the other way around.
What is good to realize is that most of the data about relationships is not in a static CRM system. Most information is in other applications that people use every day. Think of emails, calendars, instant messages and texts. If you can collect, automate and integrate that data into a relationship intelligence system, you can create relevant insights.
Collecting data, connecting, unifying and ultimately turning it into actionable information: that's the capability you need to move from relationship management to relationship intelligence.
Tap into the power of your most important asset
We know your industry
