The Case for Sales Intelligence
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The document makes the case for using sales intelligence to improve sales performance. It notes that today's customers are time-strapped, intelligent, networked and empowered. It also notes that many people are now involved in B2B purchase decisions and that customers expect salespeople to know them, not waste their time, and provide the right information at the right time. However, most salespeople do not fully understand customer needs or how their products can address them. The document argues that by leveraging digital data and building richer customer profiles using transactional, demographic, psychographic and social data, salespeople can better understand customers, look for relevant interaction opportunities, and improve sales outcomes by being more strategic, relevant and timely.
The Case for Sales Intelligence
- 1. The case for Sales IntelligenceBrian VellmureInitium LLChttp://www.brianvellmure.comhttp://www.twitter.com/CRMStrategies
- 2. Snapshot: Today’s CustomerTime StrappedIntelligentNetworkedEmpowered
- 3. In companies withmore than 1,000employees, 21 different peopleare involved in salesover $25,000Source: Ruth Stevens / Seth Godin
- 4. 90% of business buyers say when they’re ready to buy…they’ll find youSource: DemandGen Report
- 5. 93% of B2B buyers use search to begin the buying processSource: Marketo
- 6. 70% of a typical buying process is completed beforea sales person gets involvedSource: Sirius DecisionsPhoto courtesy of freefoto.com
- 7. However….There is a chance to reach out to them if you understandwho they are, who they know, what they’re trying to accomplish … and can spot an opportunity to provide something of value
- 8. Customer ExpectationsKnow MeDon’t waste my timeBe preparedUnify sales and marketing messagingGive me the right info at the right time (now)
- 9. Snapshot: Today’s salespersonDeals with more accounts / prospects than beforeWades through the mess of buying roles, org charts, priorities of buyersLikely selling more through phone/digital channelsPulled in multiple directions:TravelingProspectingResearchAdminProblem SolvingSelling?
- 10. Only 38% of sales people understand prospects’ needs and how their products/services can address those issuesSource: Forrester Research
- 11. Only half of all sales people typically reach their quota
- 12. Expectations for sales peopleShorten the path to success Talk to the right people at the right time with the right informationClose larger quantities of larger deals in a shorter amount of time
- 13. Bridging the GapLeveraging Sales Intelligence for success
- 14. Era of Human DigitizationTypographic portrait by Popeye Framcom
- 15. Use Digital Data to understand more
- 16. Aggregate Data for a richer customer profileTransactional Data3. Aggregate Data to build a richer customer profile (and respond appropriately)Richer Customer Insights Demographic
- 17. Psychographic
- 18. Socialgraphic
- 19. Customer FeedbackWho are your prospects/customers?What is happening with them?Who do they know?What are they trying to accomplish?Understand inReal Time
- 20. Don’t just call to “Check In”Look for triggers, events, information
- 21. Provide relevant information and intersection points in the context of their jobs and lives
- 22. Map interactions based on signals & customer journeyLeverage Sales Intelligence Shorten the path to success
- 23. Talk to the right people at the right time with the right information Close larger quantities of larger deals in a shorter amount of timeBe more strategicBe more relevantBe more timelyBe more efficient
- 24. Research: Results with Sales IntelligenceSource: CSO Insights Sales Intelligence Challenge 2011
- 25. The case for Sales IntelligenceBrian VellmureInitium LLChttp://www.brianvellmure.comhttp://www.twitter.com/CRMStrategiesTHANK YOU!
Editor's Notes
- #4: Relevant also for B2C but especially useful for B2B as well
- #12: Consider not using this slide – not sure what it shows…ALSO: http://blog.bridgegroupinc.com/blog/tabid/47760/bid/13186/Inside-Sales-Quota-Attainment-2010-Research-Data.aspxhttp://www.omghub.com/salesdevelopmentblog/tabid/5809/bid/40909/How-Many-Salespeople-Made-Quota-in-2010.aspxIDC 2009 study
- #13: More headwinds
- #16: How do we get this data in a quicker, more efficient manner?
- #17: PSYCHOGRPAHIC: I, A, O: Interests, Activities, and Opinions – Habits, lifestyle characteristics – what makes your customers tick?Talk about stories red ferrari, weather and current events in customer’s area
- #18: - Who are they, and instead of just using your own internal knowledge base, you have the potential to tap other data sources to understand more about your customers and prospects