Companies are constantly changing, with mergers and acquisitions playing a big role, and it’s critical that we understand how businesses are structured to streamline how we do business with them. If we don’t know how companies are related, it’s easy to assign a sales rep to a subsidiary whose parent company is already managed by another sales rep. And then, you’re not just dealing with territory disputes, but someone on your team is also wasting time researching a “new” account that may not be so new after all. Thankfully, there are software applications that provide family tree information, so you can understand the relationships among companies and use your time and resources more efficiently.

Below are three ways family tree data can be used to drive your business forward:

  1. Improve customer experience. Imagine a lead comes in, say from Twitch, and your eager sales rep calls on the lead thinking it’s his/her next big prospect. Turns out, your rep didn’t know Twitch is a part of Amazon, and that there’s already an assigned sales rep working with Amazon. You now have an annoyed customer on the line, wondering why multiple sales reps are calling on him. With access to accurate parent/child hierarchies, you’ll avoid confusion and frustration on the customer’s end. Next time a lead comes in, family trees will help you navigate account hierarchies, route the lead to the appropriate corporate family, and ensure proper assignment and management.
  2. Avoid sales territory wars. In the above example, if you didn’t know that Twitch is a subsidiary of Amazon, you’d also have to deal with internal conflict as to who owns the Amazon account or Twitch account. Do you have rules in place to define how you manage territory assignments? Do they take into account linkages between companies or are they based solely on company size, location, or industry? We suggest you have a rule around family tree relationships.
  3. Identify upsell and cross sell opportunities. We all know it’s easier to sell into a company if you’ve already sold into their parent company (and vice versa). After you’ve sold to one subsidiary of a company, check out their family tree to look for cross sell opportunities. Then ask your buyer to make introductions to related companies. It doesn’t hurt to reuse your talk track – the one that worked with the first company – and leverage what you learned to speak to their challenges and opportunities. You can now maximize the sales opportunities within each account, quickly identifying potential upsell and cross-sell opportunities while also shortening the sales cycle.

InsideView helps you understand how companies are structured, showing related parent/child hierarchies. Many of our customers, prior to partnering with InsideView, were spending their nights and weekends manually linking accounts to show how companies were related. With InsideView’s family trees, they’ve been able to automatically sync leads to companies and hierarchies within their CRM, including global companies too. As our customers continue to grow, automating workflows like these are critical to support their expansion needs.

Over the last couple months, we’ve made several enhancements to our family trees to optimize sales processes and workflows for our customers. One of those enhancements includes the ability to easily search and filter across family trees to quickly identify related companies.

We’ve also added map views so you can easily visualize the concentration of companies in a family tree.

Lastly, our customers can now export family tree data into an Excel or CSV file. You can apply specific filters to narrow down your search results, then export family trees for further offline analysis or add a personal touch for targeted campaigns.

If we’ve piqued your interest and you’d like to learn more about how family trees can help drive your business forward, drop us a note!