One of the toughest challenges salespeople face when it comes to managing a pipeline is learning how to use a new Customer Relationship Management (CRM) system and keeping it up-to-date. The latter requires salespeople to enter data into the CRM after every prospect interaction. Managers also struggle to get salespeople up-to-speed quickly on a CRM and are constantly getting on salespeople about updating the system and taking care to enter the information accurately. Salespeople want ease-of-use and minimal data entry. Managers want consistency and accuracy.
Up until now, I didn’t think the breach between the needs of the salesperson and manager could be closed, but a new application introduce by a company called Spiro may hold out hope for this reality.
Spiro touts itself as the first proactive CRM that will alleviate the administrative burden for the salesperson and increase the amount of prospect information entered with a high level of accuracy. Using Artificial Intelligence, more specifically, Natural Language Processing (NLP), Spiro’s CRM can not only read email exchanges but it can also process natural language (voice) and convert it to text which it will then use to update the interaction log between the salesperson and the prospect. The days of having to annotate the conversation on a paper pad and then have to enter it into the CRM are apparently over.
We’ve all made the mistake of receiving a customer inquiry with the intent of responding later, but then we get caught up in other things and the email is forgotten and a potential opportunity is lost.
What makes Spiro’s CRM powerful is its ability to scan you emails for opportunities that may have fallen through the crack and the system will prompt you if you’d like to add this to your opportunity pipeline. If you say yes, it will automatically enter all the client information available into the CRM. It will also scan your emails for any other interactions and add that to the prospect’s profile.
If the prospect has their company information in their signature it will also add that information as well. The system will even go online and check social media channels like LinkedIN for additional information and enter that into the prospect’s profile automatically.
If there are other contacts in the database from the same company, Spiro will find them and add them to the prospect profile including any past conversations with other employees of that company.
Just stop for a moment and reflect on how much time is being saved just on creating and entering the data for one prospect. Now take that time and multiply it by 10 or 100 to fully appreciate from a time standpoint how valuable this tool can be.
But wait, there’s more!
Spiro’s CRM uses machine learning algorithms that will create a to-do list for the salesperson. By constantly monitoring the interactions and the salesperson’s calendar, it will provide a hit list of who-to-call and what tasks (e.g., send information, proposal, data, case studies, etc.) need to be completed to keep the sale moving forward.
The CRM can also analyze the back and forth conversations with your prospects and deliver a Risk Report based on the level of engagement and other contextual information. This feature allows both the salesperson and manager to have a more objective perspective of the opportunity when reviewing forecasted revenues.
What I personally like about Spiro’s CRM is that it seems to work the way salespeople work. Too often salespeople get emails that get lost in the mix given the number of requests they may receive for more information.
The Graphical User Interface (GUI) is very clean and intuitive which reduces the up-to-speed time for any salesperson. The fact that it can read and import email content and social media data from the prospect’s public page will give salespeople more time to focus on revenue generating activities.