COTNEY CONSULTING GROUP John Kenney, CEO, Cotney Consulting Group
How to Prep Your Sales Team with Competitive Intelligence The key to the sale is competitive intelligence. It better understands your target client, improves communication between your sales and marketing teams and causes less confusion about messaging and execution. You need to get the most from your competitive intelligence to increase alignment and stay ahead of your competitors. Quality sales data about Good Analytics Drive Good Decision-Making your clients is what you need. Look for insights that tell you what motivates your leads. Then, double down Competitive intelligence analyzes data collected about a business’s clients, using a variety of sources to on what works and tweak what is not working. Your sales data is insufficient if you don’t know your gather insight about who they are and to understand lead’s pain points in advance. What are their needs and their concerns and needs relative to products or services offered by the business. It is often a top concern how can you meet them? Expand your lead exploration process to gather among sales teams because they may be ill-prepared to go in front of prospects without it. Success requires more information about your clients. Use social media to analyze. Then, get that information into your client your sales teams have the needed information. Much of a sales team’s efforts go into staying ahead relationship management (CRM) system to make it efof the competition and working to attract and capture fortless for your sales team to access the information when they need it. potential clients. One report states that 53 percent Your sales team needs to be data-led rather than of businesses say the majority of their sales deals are emotion-led. Gather objective information to set competitive. your agenda rather than gathering information based on your pre-conceived notions. Coach your sales team to understand what data to collect and its significance. Then, explain how they will use it. By doing that, the team will care more about gathering relevant and comprehensive data. Set benchmarks to track metrics and interpret your data. Sales data alone is not enough to derive meaningful insights. You will need both external and internal benchmarks to compare performance against previous sales drives or marketing campaigns. Tie these metrics to your bottom line and check to ensure you do not measure the wrong metrics. To be successful in today’s business environment, sales teams need competitive intelligence. Good quality data is a window into client behavior. It helps you accurately forecast what your clients will do and what they need. You need to know your client’s preferences and when those change. No matter how many websites a client visits, they expect a personalized journey and lightning-fast response times. The only way to grow clients is by upping your sales data game. That means utilizing data gathered from collated web content, social media, clients and other credible outlets. In addition, industry experts and even your competitors can help provide competitive intelligence.
FLORIDA ROOFING | May 2022