When the COVID-19 pandemic arrived in the US it sent companies scrambling to make plans that kept workers safe while still being able to do business. Most companies directed those who could work from home to do so, requiring an embrace of collaboration and communication technology like never before. The use of virtual chat, both video and text, have skyrocketed since stay-at-home orders were implemented. Microsoft reported in early April that they are logging 2.7 billion meeting minutes in a single day on Microsoft Teams communication app, up 200% since mid-March. And Microsoft does not see these increases going away once teams start returning to the office. They are continuing to see elevated levels of video chat usage, even in countries that have started to open back up, and this trend has been observed by other companies providing similar services.
In this new normal of telecommunication and remote work, it is even more critical that sales and customer success teams meticulously document customer interactions so that valuable information is made available across the organization.
Brands are renegotiating or canceling spending on new products and services for fear of a coming recession. Major companies in travel, hospitality, retail, and many other industries have had to do layoffs and re-prioritize their investment in their own product development as well as their spending. What we are seeing is that companies are generating more data than ever before but are also now more disconnected due to physical distance and reduced workforces. Communications are suffering from the physical distance of employees and valuable data is simply sitting in silos, unable to help increase efficiency.
In a period of tightening budgets, companies should be trying to find ways to make their data help them invest smarter. Knowing more about the market and customers helps ensure that any projects you do choose to tackle have a high probability of impact and success. It lets you know when issues arise before they become costly, and helps sales teams focus efforts on those customers most likely to buy. Think about all of the transcripts available from the countless virtual customer meetings taking place right now. Reading and analyzing all of that valuable information would take an immense dedication of resources.
In order to effectively utilize these immense amounts of data, you need a less labor-intensive solution that feeds anything and everything into an engine and outputs emerging trends and opportunities. How much lower would your risk be if you could implement a new business strategy and observe how customer attitudes shift from a macroscopic level, in real-time? You would know immediately if you needed to make adjustments instead of waiting until you noticed sales decline or customer churn.
Introducing ThunderAct: the platform for decision-makers. ThunderAct takes data from all customer interactions across the organization, analyzes them, and gives you valuable insights. It even allows you to document your actions handling the insights, from sending out a meeting invite to setting up sales campaigns, and track their impact on your business and customer. You already have the data, turn it into actionable insights that help you understand where to spend your limited resources. Contact ThunderAct today to see how we can help connect your team.
don’t miss any of our top articles