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 it’s easier said than done. Luckily, there’s technology available that can help boost your tech stack 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 your business grow. Think of network-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 people and companies that will make an impact on your business. Easy identification of leads is one of the biggest assets of this type of 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 that’s not enough to truly nurture relationships. Network-mapping software goes the extra step, offering the functionality you need to stay connected with and, just as importantly, utilize, those contacts for new business opportunities. You’ll have access to details that not only includes contact info, but also education history, work history, board memberships, donations, and a variety of other data points that will help you stay connected with clients.
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. Not only will mapping relationships to specific people be easy, but you’ll also see pathways to industries, types of roles, and cities. 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, most often, make some type of deal happen. They are gatekeepers to helping many businesses grow. But you can’t rely on in-person meetings to find super connectors. Network-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 new white paper from Relationship Science.