Sales intelligence is a set of techniques, strategies, practices and tools that bring together all the information necessary for the company’s sales force to prospect, nurture, qualify, sell and retain more customers on a daily basis. It is something that the decisive participation of technology within companies.
Many organizations seek to justify their unsatisfactory sales results as a consequence of the economic downturn or the poor performance of their industry in general.
It is true that phases of financial instability affect companies of all sizes, to a greater or lesser extent.
However, brands seeking market differentiation should always face difficulties as a chance to analyze their audience and competitors.
In this context, sales intelligence is extremely important for any business to remain relevant and always competitive.
As a result, it will be possible to close more deals and reach sales targets even in unfavorable times for the sector.
One of the efficient ways to achieve these goals is through the implementation of this sales intelligence – always with technology as an ally.
In this article, we talk about everything that involves the concept and how this management format will help your firm grow.
Concepts, best practices, benefits, applications, technologies and much more.
Stay with us.
What is sales intelligence?
Sales intelligence is nothing more than a series of strategies based on the analysis of market information.
It also focuses on knowledge about customers, recurrent and potential, as well as on the capabilities of the business itself.
For access to these data to be viable, a set of integrated systems is used.
And along with that are practices and technological resources that will increase the chances of making successful commercial transactions.
The good entrepreneur understands the power of information obtained through market intelligence.
And it applies them to predict buyers’ movements and interpret the work of other representatives in its segment, for example.
It’s an excellent way to notice your limitations and correct them if possible.
In other words, providing market understanding makes the various departments of a company, especially sales, to quickly adapt to changes in the economic scenario.
And not only with attractive prices.
Sales intelligence is reflected in daily action plans for closing sales.
And what are the advantages of sales intelligence?
The truth is that the benefits of having sales intelligence in your company are many – and we would need an article to talk about just that.
But, we’ve separated a few to make it clearer to you:
Know the profile of your customers
With sales intelligence, you have accurate data to know the ideal customer profile (ICP) of your business.
And you’ll be able to precisely create your company’s buyer persona – which will greatly help your lead capture strategies.
Find potential customers
Knowing where your potential customer is becomes much easier when you have centralized information.
After all, you know the habits and buying journey of your main customers, which will make it much easier to apply your marketing strategies.
Mainly for those who sell MRR or need to sell plans and subscriptions that are renewed annually.
Knowing what your customer always buys, you’ll be able to customize the offer and be proactive to retain that customer.
Faster and more assertive decisions
Time is money. Is the phrase cliché? Yes, but true. You can’t waste time targeting the wrong audience or using the wrong sales strategy.
Sales intelligence is having accurate, real-time information to make a decision that quickly corrects the course of some action.
Retain more customers
The customer retention is critical to any business, but it takes information to know, first, why are you losing customers?
Technology makes you have a customer service more precise, responsive and even proactive. You identify failures and avoid a large number of churn.
Being smart in sales is having the digital transformation present in the company. And, in the commercial sector, a sales system is essential.
It makes the entire process more agile, eliminates bureaucratic tasks and allows salespeople to tackle more opportunities in less time.
And to know if the commercial sector is being really productive, it is necessary to know how to evaluate the performance of your sales team.
You know how to do? Listen:
Generate value for the customer
Selling needs to be consultative – especially in B2B. The seller is a consultant and whenever he talks, he adds value to prospects.
Sales intelligence allows your sales team to know very well, from the beginning of the journey, the customer’s pain. And act at all times to heal it.
Intelligence is spending less to have more customers
One of the main benefits that intelligence applied to sales brings is the fact that it spends less to have, if not more, the same number of customers.
This metric is called Customer Acquisition Cost. It is important to always understand what CAC is and what impacts this sales metric.
But this transformation does not happen “out of the blue”, or in isolation. It is the consequence of a series of changes.
One of them is greater productivity of your entire sales force – marketing team, pre-sales, sales, customer success.
Sales intelligence is to stop working “blindly”, without having concrete, real and real-time metrics and data.
It’s critical for any business that wants to thrive to know its predictable revenue.
This is, without a doubt, an important competitive advantage – and one that cannot be ignored.
Because if it is, you simply won’t know how much effort (and money) you’re having to get someone to say “yes” to your offer.
Intelligence is that. At the same time you review your sales process, apply improvements and monitor them, you reduce costs and make your routine more productive.
How is this possible? Well, again: with technology present at all times in the customer acquisition process.
So you need technology to attract and connect with your target audience: marketing automation platforms help you.
The relationship goes on, now qualifying and being consultative to sell. And, best of all: knowing this person’s entire relationship history with your brand.
This is done through the use of a CRM, which has features that strengthen this relationship and speed up the closing of sales.
Does sales intelligence change the role of the salesperson?
Taking into account that the method described here depends on interrelated technologies and systems, the central role of market research is evident.
But not only them: from the reports of reference companies and from programs such as ERP s, BIs and CRMs they started to take over in corporations.
Thus, the entrepreneur also ends up incorporating other assignments with great returns.
What is increasingly being noticed is that salespeople are now tasked with gathering and evaluating the reports that sales intelligence provides to optimize sales transactions.
In fact, this process is part of the mechanisms available to those who want to stand out among competitors.
The aforementioned differentiation is essential when there are so many alternatives in all market segments.
A brand that doesn’t know how to exploit its strengths and doesn’t have something that only it is able to offer to prospects will hardly succeed.
Therefore, B2B competition, which derives from monitoring companies in the same sector, is well executed when studying not only the values practiced by others.
Here, too, we take into account the way to deal with partners, customers and employees.
It is from this sum of procedures, analysis, evidence and monitoring that the entrepreneur builds his image and can distinguish himself from the rest.
How do I implement sales intelligence in my business?
The basic starting point of sales intelligence is data collection, which allows you to create a detailed profile of your customers.
Current technology is used to examine your shopping habits, platforms and social networks you frequently visit.
And, again, reinforcing: the history of contact with the organization, among other relevant aspects.
That is, entrepreneurs now have the necessary tools to develop an attractive communication tactic for this audience.
This is because measures conducted based on this sales intelligence will have a greater chance of converting into business.
A common case is when a customer intends to expand activities in some region.
Your business may advertise specific offers that seem interesting in this new context.
Therefore, it is no exaggeration to say that market intelligence, when it accumulates data in an organized way, helps in discovering where the consumer is in the sales funnel.
Only with this identification are professionals able to outline the company’s marketing and define how they should approach the various relationship channels with prospects.
As fundamental as deciding where to invest, in terms of the market and in relation to the chosen dissemination platforms, is knowing where to save.
Sales intelligence helps clarify what your company’s priorities need to be, even more so in times of cost containment.
By understanding your industry and your audience, these decisions are quite simple.
Thinking about this transformation for your company?
The mission of getting out of the spreadsheet when managing sales and sticking to technology is not always easy
But it urgently needs to be done. The bargaining power is, today, with the customer. With exceptions – increasingly rare, this is the reality.
So, you need to gain your potential customer’s trust right away. Stand out among so many possibilities he has.
The presence of technology is essential – we’ve talked about it here several times and I think you get the point.
But how to actually start this transformation in your business. Well, go slowly.
- Clearly understanding what problems your company has when prospecting, relating, nurturing, qualifying, selling and retaining customers;
- Search for information. Find out more about solutions for the sales process of companies, about what CRM is and how it helps organizations;
- Read business success stories (regardless of the segment). The pains are similar to yours, of course. Seek to understand how technology has helped them;
- Go after CRM that really makes sense for your business. One that has features that really help you, without bureaucracy;
- Test the systems you understand make the most sense. But, pay attention: during the trial, assess whether the company was concerned about sharing knowledge with you;
- Consume shared content and gain knowledge. Understand if in fact (and how) that tool can help you to sell more and better;
- Before deciding, ask your questions when the seller contacts you. After all, it is an important and vital choice for your company;
- Rest assured that you can create multiple funnels for all your business process needs. Your CRM cannot limit your growth;
- Choose the company that has an active customer success area, always concerned about sharing best practices with you;
- Choose a system that is Brazilian, charged in Real (avoid exchange rate fluctuation) and supported in Portuguese, for an assertive service.
Sales intelligence is knowing how to choose well
Making a big, important decision like choosing the system that will help your business grow needs to be done carefully.
While you understand your pain, you need to really make sure you’re making the right investment.
Remember that cliché: time is money. And you’ve already lost the first – you can’t miss more of the second.
Before choosing CRM, consider issues such as:
- Being able to test the tool for free and have different plans for different needs;
- To be a cloud-based system that allows access from any computer or smartphone;
- Have complete customer registration and all their history with the company and the sales opportunity being worked on;
- Have resources in the tool to use marketing funnels, pre-sales, sales, contracts until success;
- Have integration with other tools, such as marketing automation, ERP , etc.;
- Being able to record the reasons for sales losses, which will help you understand where it fails and take action to fix it;
- Count on an alert of stagnation of opportunities. So you don’t lose any business for lack of action;
- Create customized and complete reports for you to make a fair assessment of the team’s performance of the actions made.
So, how can we help you?
Enjoy and read two articles that will help you sell more and better, while reducing operating costs.
The first talks about the importance of structuring a productive and intelligent sales routine – and how to do it.
The second one brings some sales tips to accelerate your business.