In an era of limitless information, customers usually engage with salespeople after they’ve already researched their purchase and in some cases, made their purchase decision. This shift means that true sales success isn’t necessarily indicated by the number or size of deals closed; it’s measured by getting and keeping the right customers.
Many CRM applications (Veeva CRM, Salesforce and others) are insufficient for enterprises to develop and execute account-based sales programs. Built on legacy relational data models, these CRM applications are unable to capture complex, real-world relationships that are beneficial for engaging with strategically-important customers and accounts.
BREAK DOWN SILOS
Reltio’s data-driven account-based revenue solutions bring together data from multiple internal, third-party, public and social sources. This approach identifies key influencers and uncovers relationships not just between people and organizations, but products, locations, contracts, activities and transactions. A complete picture across all data sources is needed to accurately formulate recommended actions that achieve sales goals.
MANAGE COMPLEX RELATIONSHIPS & HIERARCHIES
Separate customer master data management tools (Veeva Network, Informatica MDM and others) can help improve the data quality of CRM systems. In the case of measuring the lifetime value of each customer, your account-based initiatives will perform better with a proper foundation that captures and manages complex relationships through a dedicated operational application. You can also create contextual hierarchies to gain insights, such as business value, product penetration and credit risk.
SHARE THE KNOWLEDGE
Turn your salespeople into your data-driven advantage with unique workflow and collaboration capabilities. This form of collaborative curation self-governs the accuracy of the “soft” information your salespeople bring back from their meetings with customers or prospects with social collaborative voting, like business reviews on Yelp. Reltio can also deliver this information to downstream applications, or provide access through embedded widgets within your CRM application.
START SMALL GROW BIG
You can rapidly deploy an account management application specific to your industry and role through Reltio Cloud. As well as solve other departmental challenges using the same reliable data foundation, such as territory alignment and sales compensation. Reltio data-driven applications automatically share data, so that information is up-to-date, never siloed and always synchronized.
Account-based revenue is not just a sales initiative. It’s an enterprise-wide focus. CRM applications are typically used only by the sales organization. Oftentimes, marketing teams do not even have access to CRM seats. Successful account-based revenue programs require sharing consistent customer information, with role-based access and visibility.
STAY IN SYNC
Finally, your entire organization can be on the same page with reliable data and recommended actions that help you successfully execute on the promise of an account-based strategy that cultivates customer lifetime value. Enhance your ability to identify and develop relationships with potential strategic customers, as well as deliver superior customer service to your strategically-important customers and influencers.
10 Steps to GDPR Compliance
Effective May 25, 2018, General Data Protection Regulation (GDPR) will represent the most rigorous data protection regulation ever. Complying is not optional, and the penalties are very high. As companies scurry for total compliance, it makes sense to pause, assess, and use this opportunity not only for compliance but for managing customer data efficiently and gainfully.
MACHINE LEARNING PUTS DATA FRONT AND CENTER FOR BUSINESS
Machine learning is surrounded by fascination and awe. It can drive better personalized experiences with customers, increase workforce effectiveness, and de-risk your organization from security threats and regulations. But, machine learning needs quality data, relevant data, and better context surrounding transactions, interactions, operations and decisions.
Businesses Feeling the Heat of the ‘Amazon Effect’
Over the past 10 years, Amazon’s market value has grown more than 2,000 percent. The entire retail industry is feeling the heat, and companies are investing in digital transformation initiatives to help them compete. Walmart, for example, is rapidly investing in digital capabilities and online brands (it acquired Jet.com, for example).
WHY MASTER DATA MANAGEMENT AND MACHINE LEARNING GO HAND IN HAND
Reltio’s inclusion in the The Forrester Wave™: Machine Learning Data Catalogs Q2 2018, by Michele Goetz with Gene Leganza, Elizabeth Hoberman, and Kara Hartig, Forrester Research, June 2018, sparked (pun intended) several questions. Such as why was Reltio included, how did we receive such strong marks, and why were we the only Master Data Management (MDM) vendor in the Wave?