In business, relationships are catalysts. They help get things done more quickly and efficiently. If your company is growth-oriented, you know how crucial it is to maintain and grow strategic relationships and partnerships. You also know that it’s easier said than done. Luckily, there’s technology available that empower your business and allow those relationships to flourish. Here are five reasons why investing in relationship mapping software is a critical step in your company’s growth.
1. Leads that matter
Too often, organizations waste time and resources on directionless searching for leads or chasing down leads that won’t ever have a chance of helping a business grow. Think of relationship mapping mapping software as waste management. It allows you to quickly identify the leads that really matter using efficient and informative search tools, and then reveals your pathways to the people and companies that will make an impact on your business. Easy identification of leads is one of the biggest assets of relationship mapping software because it saves so much money and effort.
2. Beyond the point of sale
Building a business isn’t just about making the sale—it’s about what happens after. Nurturing your existing relationships with clients and collaborators is the key to meaningful and sustainable growth. CRM platforms can be a powerful resource to collect, organize, and track contact information, but they’re not enough to truly nurture relationships. Relationship mapping software goes the extra step, offering the functionality you need to stay connected with those contacts and leverage them for new business opportunities. Software like Relationship Science provides background information on your contacts to help you understand their interests and priorities, including education, work history, board memberships, donations, and more. It also offers News and Alerts on your contacts so that you never miss an opportunity to reach out.
3. The power of Big Data insights
Let’s face it: Your digital Rolodex is far too big to commit to paper—or to memory. But when it comes to getting your foot in the door at the critical moment, knowing exactly who knows who is a game-changing advantage. Relationship mapping software quickly and easily sorts through data, showing you existing first-degree connection and new extended network connections to bring you one step closer to the warm introduction you need.
4. Making the most of your relationship capital
They say “It’s all who you know,” but maybe it’s more “It’s all who you don’t know you know.” Between college friends, former co-workers, and other professional and social relationships, your network extends further than you probably realize. Now, multiply that by every employee in your organization, and you’re looking at an enormous pool of untapped assets. That’s the process of mapping relationships. By allowing you to visualize and leverage your company’s relationship capital at an enterprise level, relationship mapping software helps ensure you don’t leave money on the table.
5. “Super connectors”
You recognize them when you meet them. The people who know everyone and can open almost any door in a city. These “super connectors” are centrally positioned individuals who leverage their influence across industries, hierarchies, or departments to make deals happen. They are gatekeepers to helping many businesses grow. But you can’t rely on in-person meetings to find super connectors. Relationship mapping software highlights them as effectively as if you’d erected a giant neon arrow to point their way. You’ll know who the super connectors are within your own organization, as well as identify those within your target industry and see the pathways that connect you to them.
For more on how relationship mapping software can fit into your existing tech stack, and tips for choosing the right software for your company, check out “Why Relationship Mapping Is Critical to Your Enterprise,” a white paper from Relationship Science.