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September 26, 2023

Innovation in Business Relationships: The Role of Artificial Intelligence

Discover how artificial intelligence, with tools like Sortd's Re-engage, is revolutionizing the way businesses manage and nurture critical relationships.

In this ever-evolving business environment, two components that remain constant are the dominant role of relationships and the rise of artificial intelligence (AI). It's no surprise, then, that the intersection of these two is shaping up to be one of the most innovative areas in business. Companies globally are harnessing the potential of AI to manage and optimize their business relationships, and nothing symbolizes this vibrant intersection better than Sortd's revolutionary tool, Re-engage.

Before diving into the details of AI’s role in revolutionizing business relationships, it's worth understanding the value that relationships bring to a business. Profound business relationships not only build customer loyalty and trust but they also pave the way for referrals and can generate a steady stream of revenue. However, establishing and maintaining those relationships can be complicated and time-consuming, a daunting task for even the quickest minds in business.

Enter Artificial Intelligence, the technological fairy godmother capable of turning this daunting task into a manageable one. AI's capabilities like massively parallel data processing, predictive analytics and pattern recognition can simplify complex relationship management tasks and make them faster and more effective.

Take Sortd's tool Re-engage, for instance. This AI-powered tool goes beyond the capabilities of traditional CRM systems, with a focus specifically on nurturing and identifying risks within your relationships. It offers AI-driven insights that allow businesses to maintain and enhance relationship health. By analyzing current and historical customer interactions across various platforms like email and calendars, Re-engage provides businesses with a comprehensive understanding of their customer engagement and identifies 'relationship gaps'.

Significantly, Re-engage also pushes boundaries of traditional customer relationship management by taking a proactive role. By identifying changes in customer sentiment, monitoring response times, and detecting engagement risks, this tool acts as a business' personal relationship assistant. It offers a mix of data-driven insights and proactive cues, helping businesses build stronger relationships.

Moreover, Re-engage’s innovation extends to supporting a new kind of Key Performance Indicator: the touch base percentage. By advocating that every customer-facing team member reconnect with at least 5% of their older relationships every month, this tool facilitates consistent relationship engagement. Coupled with its ability to provide prompts to help teams engage with clients in a meaningful way, it's easy to see how transformative this 'relationship-intelligence' can be.

If we compound this with the oversight that Re-engage provides managers and CEOs, we get a holistic picture of machine learning's burgeoning role in innovating business relationships. With tools like Re-engage, managers can gain unparalleled visibility into their teams' customer engagement, identifying rockstar performers and those who need a nudge in a more productive path. It takes the guesswork out of relationship management, supplementing intuition with irrefutable data, thus augmenting leadership decision-making.

In conclusion, AI is not just about reducing manual tasks or sifting enormous data chunks. It's about leveraging the data to positively shape the critical aspects of a business, including relationships. AI's role in transforming business relationships is materializing, and Re-engage is proof of the enthralling possibilities. As businesses grapple with the dual challenge of maintaining relationships and keeping up with tech advancements, tools like Re-engage symbolize a rising trend of 'Relationship Intelligence,' powered by AI, which might just be the game-changer the business realm needs.

Written by
Rodney Kuhn