Data Can Save You: How Proper Data Capture and Integration Can Protect You From a Changing World

The only constant in this world is change. However, at this moment, there is more change than usual. Consider all the layoffs at tech giants, including Google, Amazon, Meta, and Microsoft. Of course, these layoffs aren’t just endemic to one industry. With employees staying at organizations for less time than ever, businesses have become more stressed and are under more pressure. Whenever a worker leaves, account history, prior relationships, and other vital data can disappear.

This changing environment is placing more strain on anyone who works work with account managers. As such, you must develop systems to achieve multiple goals. This includes the automatic capture of data and contact history. Furthermore, you need a platform that provides AI-informed insights to enhance business decisions. Fortunately, these data integrations are available. Data can protect your business. You need to develop the system to capture, use, and integrate that data. 

Turnover on Both Ends

It is important to recognize that massive turnover impacts both accounts and your business. This new reality requires that your business properly track and integrate data.

Changes in customers can mean rapid changes in account planning and goals. For example, suppose an account manager at one of your customers leaves. This change may create major challenges, as you may lose a connection and a previous relationship. This turnover may force your organization to re-pitch the customer on products you are already selling them. At the same time, new customers may present new opportunities. Staff turnover in your accounts may present opportunities to identify new white space and increase sales.

One thing is clear: Change in accounts means you have to engage with more than one person at a business. Engagement must be deep and with multiple people to minimize customer risks. You also must be agile and prepared to meet new goals from your customers. 

Thanks to resignations and layoffs, your team is likely experiencing the same account challenges as your customers. This rapid turnover can result in losing history, contacts, and account management expertise. It can also exacerbate pre-existing risks with your customers. Existing customers who may not want to deal with new people. Furthermore, they may not appreciate constantly needing to engage with new staff. 

Internal Turnover Doesn’t Have to Mean Lost History

Consider this scenario: You have an account manager who doesn’t use technological tools or an agreed-upon account planning format. Instead, they rely on a drawer full of business cards and scribbled notes.

This “planning system” may work for your account manager, but it will fail to work for your entire business. Consider what data is lost and siloed to only this account manager: 

  • In-depth contact history
  • Account planning and goals
  • White space analysis
  • Risk analysis
  • Engagement with alternate contacts at the same business

If this account manager resigns or is laid off, all this data may disappear forever. This includes contact history, business-wide contacts, sales records, and more. If this account manager were to leave, a new one would have to immediately engage a slew of accounts with no data. There would be no record of previous history or an idea of what the account wanted. They could waste their time retreading old goals, trying to sell products they had already expressed zero interest in, or making mistakes that should have already been corrected.

Such a situation is unacceptable, but there are alternatives. Internal turnover doesn’t have to mean lost risk analysis, contacts history, or account planning. Instead, appropriate technology tools used in approved-upon formats can capture all this information. If you use the right technology, all relevant information will be available to all appropriate team members. Using the right tech enhances the opportunity to gain financial clarity and leads to pipeline acceleration. Ultimately, this leads to major account growth for all customers.

What Your Business Needs

To survive periods of rapid change and better serve your customers, your business must change with the times. Therefore, you need the right technological tools to adjust to this moment. Specifically, you need a CRM and related tools that can help you develop:

  • Appropriate account planning templates. Your business should use artificial intelligence to provide necessary insight into these templates. Furthermore, account planning templates should be structured in an agreed-upon format. They should be regularly updated to reflect changing needs.
  • Data that is cloud-based and available to all relevant internal parties.
  • Reporting insights and analytics that can inform financial planning, forecasting, sales, marketing, and more.
  • A comprehensive record of accounts can help all team members better understand engagement. It can also allow for a seamless transition within your sales department. When done appropriately, this can build trust and create an environment that encourages growth.
  • Risk analysis that monitors negative interactions, sales drop-offs, or potential challenges to the customer relationship. Again, artificial intelligence should drive this data. Using AI can enable programs to detect internal or external threats. When managed properly, AI can help identify threats to a continued relationship with a customer. It can also help you determine a customer’s intentions, enabling you to better adjust your strategy and planning. 

Change-Proof Your Account Plans with the Right Tools

The speed of sales, changes in staffing, and growing risks to customers mean that you need appropriate technological platforms. These tools can de-silo data and ensure that you have the right account planning tools at your disposal. In addition, such software can operate within Salesforce. This integration can help you track customer interactions and improve customer success.

At Next Quarter, we can help provide you with the necessary relationship intelligence and account planning solutions. Next Quarter is powered by Salesforce. As such, it can integrate with sales, revenue operations, or financial planning. Our tools can ease transitions on either the customer side or within your organization. By investing in the right technology tools, you can survive any period, even those marked by high turnover rates.

Ready for more information on how Next Quarter can help your business grow and thrive? Contact Next Quarter today to book a demo and learn more about how we can grow your business and help you manage periods of high transitions.