The results of Forrester’s 2021 B2B Buying Survey reveal that the average number of buying interactions rose from 17 in 2019 to 27 in 2021, and according to Gartner the typical buying group for a B2B solution often involves between 6 and 10 decision makers. Gartner also found that the average buyer only spends 5% of the buying journey engaging with a seller. Pairing these realities with a global pandemic, an impending recession, and a “Great Reshuffle”, has created a sales environment that is more complex than ever before. The good news is that this market disruption has also forced sales organizations around the world to innovate. To rewrite the playbook to better align with modern buyer expectations. Because in this environment, traditional tactics of cold outreach, transactional and speculative processes will no longer cut it.
In The Forrester Wave™: Revenue Operations And Intelligence, Q1 2022 report, Principal Analysts, Seth Marrs and Anthony McPartlin wrote that “The related shift to digital engagement (self-guided and personal) has made it imperative to have comprehensive insight into buyer relationships and engagement activity and to use this intelligence and insight to improve the buying experience and optimize revenue engine performance.”
Introhive’s Customer Intelligence Platform was developed with this imperative in mind, and is focused on empowering complex sales organizations with the trusted customer data, relationship insights, and actionable intelligence required to find, win, and grow business. Recognizing that business decisions, processes, and strategies are only as sound as the customer data they are built on and informed by, Introhive’s foundation is based on the passive capture and enrichment of contact and engagement data by harnessing the “digital exhaust” that stems from corporate mail systems. It goes on to transform this data into rich and actionable insights before embedding them into the systems client facing professional’s use most, such as the customer relationship management (CRM), communication and collaboration systems.
While it’s unlikely that anyone would argue against the importance of greater visibility into buyer relationships and engagement levels, and customers have long told us that Introhive has improved their ability to optimize both the performance of revenue teams and buyer experience, the question still remained: What is the quantified impact and value of these capabilities? Well, we commissioned Forrester Consulting to quantify the impact through a Total Economic Impact™ study; a rigorous, independent investigation of the cost savings and business benefits enabled by Introhive’s Customer Intelligence platform, and the results are in.
The study illustrates how Introhive enables firms with the data and actionable insights required to create a compounding impact across their entire revenue bowtie, from customer acquisition, to customer retention and growth.
On a foundational level, interviewed customers noted their ability to unlock significant levels of efficiency with the help of Introhive. The study found that Introhive’s data automation and cleansing capabilities were saving revenue generators an average of one hour per week, and Marketing & administrative professionals three hours per week.
“It’s a huge time saver because it doesn’t take five months to clean our data using Introhive, it’s instantaneous. So, we’ve not only saved time, but thousands of hours of billable partner time.”National marketing director, advisory, assurance and tax firm
But the benefits didn’t stop at an efficiency standpoint. Introhive also made a considerable impact on the customers’ sales effectiveness, and their ability to increase both top and bottom-line revenue growth. As the Head of platform, client care for a commercial real estate firm put it in the study, “I have always believed that if you’re going to give people a bit of technology, it’s either got to make them more money or more efficient. I firmly believe that Introhive does both!.”
For instance, the study found that with Introhive, a composite organization based on interviewed customers increased new opportunity win rates by up to 36% by Year 3 and drove net income from net-new business of $7.1 million dollars over three years, while increasing revenue from cross selling opportunities with existing clients by 30%. On a three year, risk adjusted basis, the composite organization achieved a net benefit of over $11.4 Million dollars, and incurred a cost of only $2.3 Million. This represents a return on investment of 495%! In other words, for every dollar customers invest in Introhive, they’re seeing nearly $5 in return.
In summary, this is an extremely exciting moment in time, where not only is Customer Intelligence more required than ever before, but customers can now quantify its value and predict the impact it can have on their ability to find, win, and grow business. Download the full study here to learn more about the Total Economic Impact™ of Introhive’s Customer Intelligence Platform.