Monthly Recurring Revenue (MRR): Power with Data, Smart with intY
Each day we’re overloaded with information about the world around us. This information helps us make decisions, move forward and essentially get what we want. Without collecting data, we would have no influence or idea as to what it is we want to achieve and a muddled view of the journey from A to B. And, it’s the same in business…
For us in the technology industry, data is a huge driving force of the evolution of competitive technologies. Therefore, data-driven technologies have emerged to enhance our data collection and essentially make it easier for us to identify the path that will take us forward. While data collection is by no means new, it is these new business intelligence technologies which make collecting and analysing data much quicker and much easier.
One data driven service we’re talking about here in particular is Power BI by Microsoft. Power BI is a suite of business analytics tools for analysing and sharing insights. It provides a 360-degree view for users with the most important metrics in one place and is updated in real time. Data analysts can explore the data in the dashboards created and use a range of intuitive tools to get answers easily. Forget trawling through tonnes of mixed up data to find the answers you’re looking for – link your systems with Power BI and see your data in user friendly, easy to read infographics.
By having customer information in a single view it’s easier for businesses to identify key trends and themes for up-selling and cross-selling.
For example
You may see that 76% of your customers are using Office 365 with Symantec Email Security which would pose an opportunity to add Acronis Backup for Office 365 mailboxes.
… Or…
You may see that 72% of your customers are using Exchange Online, which could be an opportunity to upgrade them to an Office 365 Business or Enterprise license.
… Or…
You may see that a high percentage of your support tickets are related to a certain service. You could then consider upgrading customers to a better product to improve their experience, give better customer service and reduce churn.
With information such as the above so easily available, you can then tailor your communications to each of these groups within your customer base. Marketing these opportunities to the right customers will be more beneficial to them and to you, as they’ll receive communications they want to see, and you’ll make more MRR as a result.
Now, creating these dashboards, linking them with your systems and choosing which metrics you want to display data for usually requires a CRM or Power BI specialist.
Tough stuff...
Luckily for intY partners, we have something brand new coming soon to our award-winning marketplace, CASCADE. Watch this space, or come and see us at Microsoft Inspire stand #1223…