How to Generate Sales with Market Intelligence
In this tough economic climate, it is quite difficult for sales people to find new customers. They spend a lot of time trying to find qualified leads and even when they find some, they get told that budgets are frozen and nothing new can happen.
In these conditions, it is absolutely necessary to find all possible ways to better exploit the existing customer base and find new revenues with people that already trust you.
It is the purpose of a good market intelligence tool to bring valuable intelligence to sales people.
Here are some important steps to undertake in order to start growing the number of new sales opportunities at your disposal:
1. Invite some of your experienced sales people in to a room for a 1 hour brainstorming session.
2. Ask them to identify the key events that could impact their customers and that could be related to a new sales opportunity for them. For example if you provide industrial equipment, you may list these kind of events:
- New investments in plants/facilities: this means the customer will be in a position to purchase new equipment.
- New products launches: this may lead to the setting up of new production lines.
- New acquisitions: will the customer modernize its acquisitions’ existing machines/equipment?
- New contracts: Will there be a subsequent increase in production?
- New hiring of engineers: is there an important move planned that needs to be anticipated?
- Top management changes: Should you get in touch with the new R&D director that has just been appointed?
3. Set up an automatic news monitoring system that will send alerts to each individual sales person once one of these key events is detected.
4. Enable sales people to transform the relevant news into a sales workflow so that they can plan their calls and launch their campaign.
5. Integrate your new customer intelligence system into your CRM tool so that your sales people can keep updated in real time while browsing within the customers’ sheets.
Within a few weeks, you will be able to quickly generate many new sales opportunities with your existing customers. While this ultimately helps to increase revenue, it also means your sales force will become more aware of what impacts their customers and this will increase their global knowledge of the industry they specialize in.
For more information and tips on how to increase sales opportunities get Digimind’s free eBook .
About Patrice François:
Patrice François is co-founder and Associate Director at Digimind, one of the fastest growing companies in the field of intelligence software. For the last fourteen years Patrice has been running the worldwide operations and has contributed to expanding the company in the European and American markets.