|
The CRM-Predictive Analytics Integration Imperative
If ever there was a well-made match in the universe of technology integration, the combination of CRM and predictive analytics has to fall near the top of the list. For the benefit of CRM stakeholders - marketing professionals, account managers and sales leaders - predictive analytics help fulfill the promise of CRM and sales force automation.
A bold statement perhaps, but consider the facts: according to April 2008 research by CIO Insights, 70% of companies surveyed already have CRM, with a sizable number (43%) of the remainder moving on it within the next 12 months. Beyond the kudos that these types of numbers earn the SFA/CRM industry, for companies deploying CRM it means that the operational efficiencies that your system has institutionalized (or not!) can no longer be considered a competitive advantage.
Once having successfully deployed your solution, unfortunately many of the same, very human, and potentially undermining challenges remain. Yes, all your account managers now use the new system to track opportunities and contacts and yet humans still don't predict closure rates dispassionately. Marketers are targeting campaign prospects based more on instinct than science. Sales leaders need to yet further reduce net sales expense while managing aggressive quotas in somewhat challenging economic times. And yes, forecast reliability remains an issue - the aggregate success or failure of so many account managers' and sales reps' interpretations of their pipelines.
Predictive analytics resolves these very human foibles for CRM stakeholders with algorithmic, testable lead and opportunity scoring and forecasting. It compliments, not competes with the collective effort of marketing and sales teams and the operational best practices CRM instills. It makes forecasting more (scientifically) reliable and provides the ‘lift’ enabling sales to focus strategically on opportunities with a greater predictive probability to close – especially useful if managing so large an account base that priorities need be established.
But the benefit of this pairing should be considered mutual. CRM brings predictive analytics two things that frequently undermine the latter’s own success - large amounts of well-formatted and reliable sales and customer data coupled with an instant (and dare I say elegant) deployment to the business users that need to consume the results. Integrated seamlessly with current CRM solutions, analytics results are no longer stuck in the ‘basement’ or back office.
|
Angoss CRM Analytics for Salesforce.com integrates predictive scores for leads and opportunities, account segments and deal values seamlessly with Salesforce.com for instant visibility to sales and marketing professionals. Sales Management benfits with predictive forecasting and coverage management reporting.