To succeed in today’s competitive marketplace, organizations need to be creative in how they leverage existing relationships for business development. Relationship intelligence tools help business development teams foster strong professional connections with key stakeholders leaving companies well-positioned for growth.
What is Relationship Intelligence?
Relationship intelligence helps uncover data-driven insights about a company’s complex and dynamic business network. It enhances how dealmakers spend time generating, managing, and closing deals. This includes the strength of relationships, how influential contacts are, and how they can connect you to new opportunities.
Ultimately, relationship intelligence can help you close bigger deals, faster. Insights can help salespeople identify new opportunities and strategic approaches for certain deals. Closing more high-quality deals can drive organizational growth and strengthen key relationships.
Achieve More, Faster.
Organizations can use relationship intelligence to unlock greater opportunities. Knowing more about relationships with clients and prospects helps to identify ways that these contacts can connect you to new opportunities. This can bridge the gap between the organization and the customer in real-time.
According to Forbes, relationship intelligence strategies and tools can help businesses reduce costs and increase efficiency. This leads to increased business growth. Executive intelligence tools help to bridge the data gap, identifying the best course of action to take. Altrata’s suite of relationship tools includes:
- RelSci: This tool helps organizations of all sizes capture and leverage relationship capital to shorten fundraising cycles and identify highly impactful donors or effectively acquire new clients and retain existing ones.
- BoardEx: With turnkey relationship mapping that is easy to use, this powerful tool captures and visualizes the relationships between board members, executives, and institutions. By making these connections visible, it helps organizations identify new opportunities for collaboration.
- Boardroom Insiders: This audience analysis tool enables organizations to visualize and analyze their relationships at scale. Utilizing common threads such as industry connectors, common interests, and shared experiences makes identifying potential collaborations even easier.
When an executive changes roles it can present either an opportunity or a risk. We identify these changes and alert you to take action. Companies need relationship intelligence based on accurate, relevant, and timely executive data to sustain C-suite relationships. This will help them maintain key buyer relationships while raising awareness in key and emerging markets.
Altrata’s data integration solutions relieve the pain around introducing new complex platforms internally. Firms can seamlessly plug our API or data feed into existing systems, strengthening their existing CRM data, in a software solution users recognize.
Our solutions integrate with Salesforce to seamlessly to integrate powerful data into your daily workflows. Access a global technology solution that connects companies to global business leaders and decision-makers from an ecosystem of public, private, and nonprofit organizations. This leads to the identification of new strategic relationships, more insight and the ability to build practice and sector presence across the globe.
Our proprietary relationship mapping algorithm has been refined for over 20 years to power sophisticated relationship intelligence tools. This enables our clients to foster their strategic relationships to drive long-term value.
Driving Sales with Relationship Intelligence
Salespeople spend less than 36% of their time selling. Spend more time selling.
Leverage relationship intelligence tools to shine a light on the connections you have and how they connect you to better business opportunities. Relationship intelligence and AI tools have been paired together to better understand prospects, analyze trends and opportunities, and create more personalized customer experiences.
Advanced technologies, like relationship intelligence platforms and relationship webs, enable you to monitor their contacts and discover potential sales leads. With detailed customer profiles, sales teams can create personalized and engaging messages. These tools and software ultimately allow sales teams to better understand customer interests so they can tailor marketing efforts, interactions, and sales pitches based on this data.
Utilizing relationship mapping allows sales teams to:
- Visualize relationship and contact data
- Identify prospect connections and new sales opportunities
- Determine the best sales approach with customers and increase successful conversions
By leveraging relationship intelligence sales teams can vastly improve their effectiveness and efficiency when connecting with current and potential customers.
Why Relationship Intelligence is Critical for Business Development
Relationship intelligence is critical for driving business development in various ways. For example, it can help improve customer relationships by fostering trust, empathy, and effective communication.
It can also enhance employee engagement by promoting a culture of collaboration and inclusivity. When a team works together, they become more efficient and productive. By being able to pair this working togetherness with our relationship intelligence tools, they can analyze and learn about customer interactions quicker than ever.
We offer powerful tools built to help you better leverage relationship intelligence. By leveraging relationship mapping visualization, organizations can quickly and easily identify key connections between themselves and potential partners or clients. This was demonstrated when a Global Investment Bank, struggling to win an advisory assignment with an international retail company, turned to Altrata.
They used BoardEx’s exclusive relationship mapping algorithm and were able to identify a critical connection path between one of its independent directors and the target retail company’s board. Armed with this information, the advisory team was able to escalate their findings to senior management and secure a meeting that moved the deal forward.
Conclusion
Making the most of your relationship intelligence gives you a competitive advantage, helping you close bigger deals faster.
Altrata’s suite of tools, BoardEx, Boardroom Insiders, and RelSci can help you identify key connections and bridge the gap between yourself and potential partners or clients. As companies look for new ways to remain competitive, they must prioritize relationship intelligence and leverage the latest tools to get ahead.
If you’re interested in learning more about how Altrata’s relationship intelligence solutions can empower your salespeople and identify key opportunities, get in touch to schedule a demo.
Resources:
https://www.forbes.com/sites/cindygordon/2022/02/26/accelerating-growth-using-ai-a-focus-on-relationship-intelligenceblog-25-series/?sh=4ae14622360a
https://www.agilitypr.com/blog/post/media-monitoring/social-listening-vs-media-monitoring/
https://www.salesforce.com/blog/sales-relationship-intelligence-einstein-insights/