Business leaders recognize that data is at the heart of B2B expansion and growth. It’s the starting point for tens of thousands of subsequent engagements with prospective clients. But then there’s sales data, and then there’s sales intelligence data.
Sales data is easy to get by: a company’s name and phone number, the number of employees, profit, contact numbers, email addresses, and job descriptions. Long, sophisticated sales cycles, on the other hand, need more than simply names and figures. They require sales intelligence.
What is sales intelligence?
Sales intelligence refers to tools and technologies that help sellers find, gather, analyze, and evaluate data about prospects. It also aids in lead generation and provides you with the most up-to-date information about your leads.
This is accomplished through the use of online data and compelling event signals. These platforms and tools are commonly utilized by B2B companies, where they may help save sales teams’ research time and focus on more critical tasks and activities.
Why sales intelligence?
The fact is complex B2B sales cycles need more than simply names and numbers. Keeping up with a dynamic addressable market necessitates proactive intelligence that is updated regularly and funnels prospects right into the sales team’s workflow.
This is where the role of sales intelligence comes into play. Sales intelligence uses innovative prospect data with real-time trigger signals to allow sales teams to engage with the appropriate buyer, at the right time, rather than having the data and information to deliver and then retroactively recognizing areas for improvement.
Critical sales data to increase revenues
Client insights may be gleaned from sales intelligence data at a much deeper level. The following are some of the sales intelligence data that you need to monitor to boost sales.
The length of the buyer’s journey
This involves tracking time-to-revenue data to see how long it takes clients to convert from the initial anonymous touch to the final sale.
Data on demand (intent and engagement data)
This is sales intelligence data on every client’s interaction with your business and when it occurs.
Source of purchase
This data refers to the channel the account’s purchasing journey began.
Client profiles that are more complete
This includes comprehensive data about the account, including the decision-makers participating in the buying process, the industry, the company size, and so on.
These data allow sales reps and marketers to see what leads and prospects are doing as they progress through the pipeline, such as who is involved in the buying process, what they are reading, whether they are visiting review sites, and whether they fit your data-proven target client, among other things.
Trigger signals
These are a set of indicators that can help you figure out if your prospects want to buy a product or service. They allow you to identify leads who are actively considering making a purchase based on reading material.
How does sales intelligence help increase revenue?
Sales intelligence aids sellers in locating, monitoring, and comprehending data that offers insights into prospects’ and clients’ everyday operations. Sales teams may use these insights to keep informed about developments in their target accounts.
In all of its forms, sales intelligence is intended to assist your sales force in doing their duties more effectively. This can happen in several ways.
Increased productivity
Sales intelligence enables sellers to prioritize follow-ups and separate leads into value-based and qualification-based groups automatically. This method saves them time manually sifting leads and unnecessary effort spent following unqualified, low-interest prospects. Trigger signals play an essential role in this process since they help sales intelligence data recognize and prioritize accounts actively making a purchase choice.
Rewarding client engagements
Prospects sometimes find it frustrating to speak with a sales rep who doesn’t understand their demands and tries to sell them a product whose worth they don’t appreciate. The focus of the talk is on the product rather than their tastes, goals, or reservations. Most clients believe that sellers are unprepared for their initial meeting and fail to customize their presentations or pitches.
Sales intelligence identifies the areas or topics in which prospects are most receptive, allowing sellers to direct the discussion in that direction. In specific ways, sales intelligence aids in the identification of interests and the development of appropriate talking points.
Shorter sales cycles
Sales teams frequently pursue incorrect prospects and try to market products that result in a longer purchasing cycle. When paired with trigger signals, the correct sales intelligence data may assist sellers in identifying contacts who are ready to buy, lowering the median lead-to-close time.
Better sales strategies
Sales intelligence aids sales decision-makers by extracting specialized insights from their department’s labyrinth of processes and databases. Sales reps may use these data to develop tactics for better engaging prospects and increasing lead conversion rates, which would, in turn, help them make more revenue.
Conclusion
The data and signals that drive your personalized content and segmentation are only as good as the data and compelling event signals that drive them. Sellers’ productivity increases when they access data and information on a sales intelligence platform. Investing in such a solid platform to support your marketing and sales operations may pay off handsomely for your sales force.
One thing is sure: Sales Intelligence is no longer optional – especially if you would like to maximize your sales!