We all know that knowledge is power and it’s no different in the field of sales. That’s why sales data intelligence is a powerful friend to you and your company. If you are a business-to-business (B2B) company, you know the trials that arise in the areas of sales.
According to one CEO, “salespeople have one of the toughest jobs in organizations.” As costs go up, business budgets go down. As a result, there is considerably more pressure on sales reps to meet their quotas and bring in the revenue that the business needs to continue operating. This pressure can feel overwhelming and exhausting.
If you are one of these salespeople, who you have supervision over someone else who is, you will make everyone’s life easier by employing the assistance of sales data intelligence. Furthermore, to stay at the top of your industry, you need to keep up with your competitors and have the most valuable assets that you can get your hands on.
What are Data Intelligence Solutions for Sales?
Data intelligence solutions have the goal of improving the data and market information available to a company. They are most used for B2B sales companies that want to enhance their sales by giving their sales teams insightful, real-time data to help them make more sales and shorten the cycle of these sales.
This insight can also come from real-time social media and news updates that give a wealth of information by analyzing data from news and social networking websites. The system scans the internet for information in the public domain which is brought back into the software to be analyzed. With this valuable knowledge at your fingertips, you’ll be able to identify opportunities to upsell, cross-sell and switch sell.
How does Sales Intelligence Work?
By using informative and personalized data, sales intelligence gives you a huge advantage against your competitors. Commonly, these systems are powered by artificial intelligence (AI). AI plus sales equal growth, which is exactly what any passionate business owner wants to achieve.
There are lots of different elements when it comes to data and sales intelligence can manage them all, from collecting and sorting the data, to analyzing it and evaluating it so that it can be used strategically to make well-informed business decisions.
Although some elements of sales intelligence overlap business intelligence, the former is designed to be used by salespeople and managers. Sales intelligence stands out from CRM (customer relationship management) software and BI tools in that it provides real-time analysis and current data.
This up-to-date information is, therefore, more useful, application, and actionable. It provides the best results because it is relevant and immediately applicable.
Advantages of Sales Data Intelligence
You often don’t know just how many potential customers there are out there in your target audience, waiting to be reached by your business. The power behind sales data intelligence will mean that you never miss an opportunity again.
Find Your Audience.
Without the software behind you, it would time a great deal of time to do the needed research to establish your target audience. Collecting and combining the data and information it collects from a variety of sources, sales intelligence will make this easier than ever before.
Save Valuable Time.
Time is money, so the more time you can save, the better. With sales intelligence, you get all the data you need instantly.
Stay Ahead of the Game.
With so many competitors, it can be hard to keep track of them, let alone keep in front of them all. Sales intelligence tools help you identify and monitor the competitors in your industry so can stay one step ahead.
Find the Best Contact.
Sales intelligence tools will give you the ability to identify the best contact at a potential client’s company, the one who will have the power to make the decision to do business with you. This will save you a lot of time and effort too as you can go straight to the person who has the authority needed to make business decisions.
Find the Best Time.
We all lead very busy lives and as a result, there are good times to contact someone, and not so good times too. Sales intelligence tools will analyze the available information to tell you when the best time is to get in touch with a potential client. That way you are more likely to have a successful business call with the individual.
Improve Your Leads.
When previously gathering information for possible leads, you usually only got the client’s name and email address. Now, with the help of sales data intelligence, you can tap into a much deeper reserve of rich information. You can add information like the industry and financial figures to your previously restricted lead form.
This will make your research a whole lot easier and help you to see which leads are worth pursuing. Then, you put all your time, attention, and focus into gaining these more profitable leads that are more likely to boost your sales.
Additionally, let’s look at some criteria to bear in mind as you find the software option that’s best for you. Find a solution that:
- Uses a variety of sources to gather information
- Collects the data in different ways
- Organizes the sales intelligence data into a format you can work with
- Gives you the insights you need in real-time.
In conclusion, now you know how powerful a tool sales analytic software can be, it’s up to you to find the best support for your company and its unique and diverse needs. If you want the best for your sales and leads, you can’t ignore this valuable resource.
Not all tools are the same and different software options will bring different benefits. Understand what your company needs are and do your research, look for a software solution that will best fit those needs.