As we are taking baby steps and veering into the world of SaaS, Customer Success has become the hot talk of the town. While the complete power to make or break a business lies in the hands of a customer, it has become vital to dig up ways to satisfy them, now more than ever. And that is exactly when account intelligence has come into the picture and transformed the face of the niche, almost entirely.
Having said that, every bit of customer information that you possess has an unsurmountable depth of analytics, data, and account intelligence. So, what is account intelligence and how can that be used to drive Customer Success in the right direction? If this is what you too are wondering, fret no more. This blog is going to walk you through the nitty-gritty’s of the topic and save you some umpteen research.
What is Account Intelligence?
The definition of account intelligence can be taken as the collection of actionable insights that are based on a customer’s data analysis. You can always sift a ton of valuable information when you peruse the shopping patterns, billing transactions, and interactions of your clients. Significant data can be generated through these when coupled with the right usage of technology as well as through their interfaces with your customer success, service, and sales teams.
It is then that the concept of account intelligence plays a pivotal role in revamping and organizing this obtained data and pulling out substantial information from that. It can be used to improve outcomes, boost up your client base, and mentor several key decisions that fall your way. Or, to put it in real, simple words – Account Intelligence is the data that measures a prospect’s activity and behavior in accordance with your business.
A Stepping Stone for Customer Success Managers
To make the nuances of Customer Success doable, it is the Customer Success Manager who packs a punch. Efficiently tapping into the customer’s data points is something that a customer success manager can delve into with the right tactics. One such simple yet significant tool used by them is account intelligence. While it not only has the power to aid the customer success teams to get better at meeting customer expectations, but it also saves them a whole lot of time, money and patience.
Whatever a client does on your system, is systematically tracked. This eventually leaves out less scope for any kind of information leak. Now that a customer success manager has full access to the client’s behavior, clubbing it with the account intelligence facet can help in knowing and understanding the customer better in a magnified format.
How Account Intelligence can enhance Customer Success?
One can seamlessly manage account portfolios with an actionable and proactively set account intelligence. Gone are the days when manually collecting and analyzing the data was a thing of the present. In are the days when you deploy the three T’s – tools, tactics, and technology to serve the purpose. Stay on top of all your accounts and ensure that nothing slippages through the cracks. Here are seven such ways how account intelligence can save you a fortune in no time:
- Get Alerts on Red Flags: Enabling this precious tool can speak out when a customer of yours is on the verge of nearly churning away. Before they slip out from your hands and opt for a competition instead, reach out to them proactively and address their prime concerns before the timer buzzes off.
- Wreathe everyone on the same loop: It is no good from a loyal customer’s point of view to see any grand updates in the system without having them informed. This not only cuts a sorry image but also jeopardizes your relationship with them. Use this feature and wreathe each one of them on the same page.
- Bridges the Gaps and Suggests Improvements: While the important feature of account intelligence will not only note out the specific gaps that you have in your offerings but also reveal the strategies to affix that. Further, it has been duly designed to analyze a customer’s demeanor and understand their preferences, likes, and dislikes from their shopping pattern. It is then utilized to suggest some of the tactful ways to retain a customer who is almost in the clutches of being churned away. Moreover, it can let you know more about their specific needs and desires as well. It does sound more than just a tool, right?
- Renders deep dive Analysis and Insights: Account Intelligence has a big say when it comes to paving the way for more sales too. In order to get an effective sales closure, it is more than necessary to have an appropriate solution that is best targeted to provide a suitable price range. This is where account intelligence can throw in the requisite insights through an assiduous analysis and suggest on what is the right next step. Ever since intelligence has teamed up with the coverage of accounts, doing business has completed changed from the manual-then to the automated-now.
- Save and Optimize on the Clock: You will no longer have to spend time looking for information and killing your precious time on going after your clients to fetch the real-time updates. You can simply leave the task of engaging on this tool and focus on more productive tasks for the day.
- Read your Prospect’s Behavior: It is due to account intelligence that you can come up with a comprehensive analysis of your prospects before they convert into a customer to brand advocate. This thereby then makes it a lot easier to close the deals at the earliest. Some of the functions include researching the roles and responsibilities, the professional work experience, and the rest of the contact credentials and social media handles as well.
- Minimizes Efforts in managing customers: It is no longer seen as a challenging task to handle and manage a customer. Deploy this assistant as your friend and in no time you will be able to see a massive difference. With this say goodbye to the bulging stress, additional workload, and time waste too.
That’s a Wrap
The advantages that account intelligence can prove to your system is limitless and invaluable. An in-depth report can carry out huge insights about key accounts that include the financial health score of the companies and their performance with their respective competitors. Also, it can bring out end-to-end implementations in the IT sector and can suggest the IT budget, investment plans, and recommend ways to lessen the pain points too. With this, you can nonchalantly acquire new prospects and retain them for a really long time.
Add on intelligence and in no time should you be able to regale and pay extra attention to your customers. Note that a happy customer is here to stay. And it is by default that a customer needs more attention and a sense of personalization. On that note, account intelligence can be your best friend and can help you retain these customers throughout a lifetime. Meet your business goals today itself by adopting one of these today!