Definition of customer intelligence in CRM

  • Meaning of the term customer intelligence in CRM software

    In most CRM systems, the term customer intelligence or CI designates a process of obtaining and analyzing additional information about clients in order to sell more effectively. Customer intelligence engines frequently include data enrichment tools but it's not always the case or a requirement.

    Here's an example to help understand how it all works. Suppose, you sell a B2B product to various companies. By segmenting your customers by their company size, you've discovered that if a company has between 100 and 200 employees, they are three times more likely to purchase your product than smaller or larger companies. After discovering this insight, you start using data enrichment services that provide you with the information about company size using LinkedIn data. As a result, all incoming leads are now segmented by size, and your sales representatives now concentrate on companies that have between 100 and 200 employees. You've tripled your sales, without any additional investment in labor.

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