By Ron S. La Vine, MBA
The purpose of this article is to explain how to interpret and use business sales intelligence provided from various sources in general and specifically from AYSR- free, Sales Ideas Report E-mail Newsletter (SIREN). Here are eight of the many key benefits of business sales intelligence:
- Using business sales intelligence, you can target the increased demand for their products and services, when changes cause leads, prospects and customers to face new challenges or need to perform more effectively and efficiently.
- The recognition of change upon a customer’s business enables you to use Pro-Active Customer Service (R), during the change. This can and often does result in additional revenue opportunities.
- You receive the ability to provide increased customer service, thereby strengthening your relationships and making it more difficult for competitors to replace your products and services.
- You are in a position to offer, replace or augment existing products and services.
- Business sales intelligence can be used to keep up with new products, services and technologies, allowing you to become more knowledgeable about the changes taking place in both your, and your customers’, industry.
- Business sales intelligence can be used to stay abreast of your competitor’s latest products, services and technology.
- Knowledge of lead, prospect or customer changes decreases communication costs between business (written, verbal and visual) and increases the chances of effective communication since time is not spent chasing down people who have shifted position. Instead, time is invested in those people who are present and capable of making a decision.
- The foundation of stronger internal and external relationships increases, as employees and management realize their goals of providing polite, high quality, caring customer service. SIREN readers also gain a greater understanding of the true needs and challenges their leads, prospects and customers face.
Business Sales Intelligence and the Sales Cycle
The first step or the understanding (fact-finding) that comes before selling step, is the most essential, and often overlooked step. In fact this step is so critical, it has become an imperative in today’s conceptual, consultative selling environment. The listening, questioning and analytical skills required for this specific step, is where the emphasis of The IntellWorks’ telesales – telemarketing training is placed.
It is easy to overlook or mishandle this step in a sales rep’s eagerness to sell. This eagerness can lead to damaged relationships if needs and expectations are not clearly in place. This step requires a continuous monitoring of an industry’s unique nomenclature and revenue producing events along with the ability to interpret which events can lead to revenue by using “What if…” possibility analysis. Now we will examine the benefits of using of each section of the SIREN and converting the information or data into business sales intelligence using possibility analysis.
Alliances, Expansions, Joint Ventures, Location Changes, Mergers or Acquisitions, Restructurings and Spin-offs
In general, products, services, technology, the investment in capital equipment and human resources all undergo a review for their usefulness and ability to increase of sales and the decrease costs. What if a lead, prospect or customer company makes this type of change- What types of possibilities exist-
Will they need new products, services and technology- Will they require additional employees who need training, additional equipment, technology or additional documentation- In the case of a customer, will your champions or coaches leave- If so who can you find to replace them or is it time to find new ones- What is your plan to insure your products and services stay entrenched versus being replaced-
By understanding and following these changes, you can keep track of the ownership and location of your property and intellectual capital. Expansion of your products, services or technologies, within the changed organization, also become possibilities. The opportunity to convince the new or changed organization’s management to invest in new products, services or technologies becomes a reality.
Executive News, Changes and Comments
This intelligence enables you to keep track of upper management and decision makers along with your coaches, guides or gurus when they shift positions or companies. Use this information to notify and recognize contacts for their personal achievements and provide an opportunity to initiate new contacts. What if your contact moves to a new organization or is promoted to a decision making position- Does this provide an opportunity to introduce or increase your company’s products, services and technologies-
What if a company is awarded a contract- Will the company awarded the contract have the capacity to complete the contract or will subcontractors be required- Who will provide the products, services and technology to fulfill the contract- Will the contract require any additional products, services or technologies which were not included in the original award-
Information Technology Implementations and Advancements
What if a new technology is invented- How can you make use of it- Will it replace or complement your technology- What effect will a technology implementation have upon your existing and future business potential- Can you provide enhancements to the new technology or implementation- If the implementation is being done by a competitor, how did the competitor win the contract- What would you learn if you studied your competitors- tactics and strategies-
International Business News
What if your company has international locations- What if you would like to do business in another country- The business sales intelligence from the SIREN can be used as a basis for keeping track of the effects of political and economic change in the countries where your international offices, subsidiaries reside. Certain changes can lead to increased international trade and the establishment of worldwide, enterprise wide agreements.
What if legislation is being proposed or enacted that will have a pronounced effect or you or your lead, prospect or customer’s business- How can you use this information to become proactive instead of reactive and stay ahead in the competitive marketplace- Does the change trigger a need to lobby policy makers- What if the proposed change opens up new markets for you, your prospects, leads and customers- What actions will you take to capitalize upon these changes-
In summary, change does create revenues possibilities, the chance to strengthen relationships and an opportunity to become pro-active versus reactive in an increasingly competitive marketplace. First you need to be able to recognize the data creating the change applying to your unique selling and marketing situations. Next in order to answer the questions above, you need to learn how, or be able to, convert that data into useful, actionable business sales intelligence which can be used to increase your company’s sales and competitive advantage while decrease your costs of doing business.
The weekly Sales Ideas Report E-mail Newsletter provides a tremendous amount of valuable, concise, business sales intelligence with which translates into the benefits previously mentioned. All of the information is available for free on the world wide web. The service AYSR provides is to increase the amount of your sales, marketing, intellectual capital and resources worldwide using recent education and news. This alerts you to the identification of specific commercial, government and non-profit, lead, prospect, customer, business, industry and executive changes, which, if acted upon in a timely manner, may lead to revenue opportunities while providing useful business intelligence to leverage existing and future relationships and create an opportunity for polite, increased customer service. Change creates revenue opportunities (TM).
Copyright Ron S. La Vine, Accelerate Your Sales Results, Inc. >-Live Cold Call Training that gets Results!
Reprint permission granted in part or whole with the following credit:
“Reprinted with permission from Ron LaVine-s Sales Ideas Report E-mail Newsletter (SIREN). To subscribe, visit–http://www.accelerateyoursalesresults.com–or send a message to ronlavine-@-AYSalesResults.com-with “ADD” in the subject line, or call 1-818-991-6487.”