TIBCO Software, Inc. (TIBX)
Complimentary Webcast Hosted by TIBCO Spotfire
December 14, 2011 11:00 am ET
Syed Mahmood -Product Marketing Manager for Spotfire, TIBCO Software
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Good morning, everyone, and welcome everyone. [indiscernible] of TIBCO Spotfire. I'd like to thank you for attending our webcast today, effective sales pipeline management through analytics, presented by Senior Product Marketing Manager, Syed Mahmood.
Just a few items before we begin. If you have questions at any point today, you can submit those using the Q&A module on the bottom right-hand corner of your screen. Syed will field those questions once his presentation and demo have concluded. Also, today's webcast is being recorded so you'll have access to playback through a link, which will be emailed to you after the live session.
So again, thank you for attending today's webcast. And I'd now like to introduce our presenter, Syed Mahmood.
Thank you, Brett [ph]. My name is Syed Mahmood, I'm Senior Product Marketing Manager for Spotfire. And the purpose of today's presentation is to briefly summarize the challenges that sales professionals face and how Spotfire can help address them.
As some of you might know, Spotfire is TIBCO's analytics and data visualization platform. And the plan for today's webcast is to do a brief presentation that shows how sales and pipeline analytics fit into the broader process for customer lifecycle management. And then, I will do a demo of how Spotfire provides those key pieces of insight that sales executives and managers need to be effective in their roles.
So let's get started. So as I mentioned, I would like to start the presentation by first talking about the broader framework for customer lifecycle management because processes related to sales and pipeline management are actually part of this framework. Effectively managing customer lifecycle represents a closed-loop process, this process touches marketing, sales and customer service organizations within an enterprise. And the process of building and maintaining strong relationships with customers starts with a business acquiring a new customer. The relationship is further strengthened when a customer buys additional products or complete solutions from the business. And in the final phase of the customer lifecycle, factors such as customer satisfaction and loyalty play an important role. And this process is fairly challenging because enterprise and businesses need to acquire new customers and build these strong relationships with them while reducing the cost of marketing, selling and servicing to these customers.
As I mentioned in the previous slide, customer relationship management consists of a large number of subprocesses that actually touch different parts of the business. For example, the process of customer acquisition starts with the marketing department planning and conducting a marketing campaign, and the objective of these marketing campaigns is to generate leads. These leads are then tracked and followed up on by the sales department with the objective of qualifying them into opportunities and then eventually converting them into closed deals. So after the relationship is established with the customer, it is now the joint responsibility of marketing, sales and, particularly, customer service departments to strengthen this relationship by addressing customer concerns and improving customer experience, not with the product, and not just with the product but also with the enterprise itself.
So this is actually easier said than done as it requires coordination and integration between various operational, marketing and sales applications and data sources in which customer and sales data is usually dispersed within an enterprise.
So as businesses have invested in CRM systems or sales and marketing automation solutions, analytics have emerged as one of the key components of a successful customer lifecycle management process, and there are several reasons for this. First, CRM solutions or sales and marketing automation systems generate a significant amount of data at every point in the customer lifecycle process. Second, this data is actually, holds the keys to making various CRM processes more effective and efficient, thereby reducing the cost of selling, marketing and servicing to the customers.
What is interesting about this process is that, despite the generation of large amount of data by various marketing and sales automation systems, these systems actually offer fairly basic reporting and analytical capabilities. There is definitely a need for sales and marketing executives and personnel to analyze the data related to their businesses by any dimension that they are interested in. And this is usually not currently offered by a majority of the sales and marketing automation systems available in the market.
So now that we have set the context for sales analytics within the broader framework of customer lifecycle management, let's talk about the challenges faced by executives who are responsible for managing the sales process within an organization. And perhaps, the biggest challenge that sales professionals face with regards to analyzing the efficiency and effectiveness of their sales process is related to various internal and external sources and applications from which sales data actually needs to be extracted and brought together in order to paint a complete picture of the pipeline. And this has important implications: Without integrating the data and extracting them from the various sources, it is quite impossible for a sales executive to get a complete picture of the opportunity or the sales pipeline.
In the earliest slide, I talked about sales force automation or SFA tools such as salesforce.com or Oracle CRM as generating a large amount of data, which is actually critical to making the sales process effective. However, the challenges that these tools themselves offer fairly rudimentary functionality in analyzing this data.