Driving sales with data
Updated: Jan 7
Business intelligence (BI). What does it really mean and why should you care? BI describes techniques and tools designed to help companies build deeper customer relationships by analyzing what their customers do and want. Companies use BI to make better decisions about everything from product design to customer service, but in this article we share some of the ways successful sales teams use BI to create better leads and close more deals.
Cold calling and unsolicited emails are a thing of the past. You can use a BI platform to “listen” to a prospects’ buying and service history in social media and understand what matters most to them. Then you can approach them with friendly advice and carefully targeted content and offers. You may not convert them right away, but you can nurture a relationship and win a new customer in time.
You can never know too much about your target audience and the more you know, the better you can tailor the message to appeal to them. Companies use BI to pull customer data from internal sources like sales systems and web analytics and combine it with publicly available data (like Facebook posts) to figure out where and when to advertise and exactly how to craft a relevant story.
When you do get in front of a prospect, having a succinct and compelling elevator pitch will help you close. Here’s where clever sales teams use the intelligence they gather about prospects to push the right buttons. And when the pitch is over, they pull out their phones and track the interaction using a relationship-building platform, so they know how to follow up in an effective way.
Still driving or flying all over the place to meet with prospects? Save time, money and hassles by using video conferencing instead. An online meeting is efficient for everyone and it gives a savvy sales person the latitude to keep a BI report with prospect insights on-hand. (This makes them look very smart). And they can share documents and pull up websites on the fly.
The biggest secret of BI is that it’s easier and more affordable than you might think. You can use tools you probably already know and own, such as Microsoft Excel (standard in Office 365), with a product like Microsoft Dynamics CRM Online to modernize your sales process—not to mention, work wonders on your marketing and customer service, too!