Sales Intelligence Has 12 Elements. Which Do You Need to Work On?
In the world of big data, there’s no shortage information that you can use to increase conversations.
Some examples would include everything from their contact information, demographics, and general data like their interests and shopping behavior.
Sales intelligence is using this type of information to keep the conversation going with your leads in order to close a sale. The reason? It provides more specific information from the customer, so you can provide better service to them.
Your prospective client can provide other answers. Why this prospect is willing to buy from you? What problems or challenges can you assist this prospect with in solving.
Typically, this is geared more toward one-on-one conversations, like during a phone call or a direct message. The customer will feel relaxed enough to share more information than they normally would on a web form.
In order to help you work on improving your sales intelligence, here are 12 elements that you should focus:
In you want to move a sale forward then you’re going to have to appeal to the needs of your prospects. Think about what business-driver or current issue your solution is addressing. How is it enhancing the lives of your prospects?
You will know how to proceed by using specific sales triggers that influence purchasing decisions of your target audience.
Sales reps can leverage these triggers when they have an opportunity to convert a lead to sale. [BTW: these sales triggers work brilliantly in your personal life as well.]
Sales triggers help provide the most current and relevant intelligence to keep the lines of communication open. They contribute with relevant information about how you’ll solve this clients current needs.
2. Existing Customers
You can also leverage your existing customers who are satisfied to demonstrate the value that you’re providing them. Examples include, sharing case studies, customer satisfaction reports, testimonials, and reviews on your website.
You can also share examples of customer success stories during sales meetings.
When you showcase how your organization has helped customers overcome challenges, it’s impressive. By showcasing satisfaction of your clients, it demonstrates that you value your customers.
3. Organizational Charts
Closing a sale on average requires between 4-5 decision makers. Too many middlemen (middle-persons?) hold up the sales process. By implementing sales intelligence you’re able to provide your team with detailed organizational charts.
You give visibility to the decision making process, while keeping relevant decision makers in the loop. This means that you don’t have to wait until every department is brought up to speed on a customer.
4. Accessibility with Sales Intelligence
It’s imperative that your sales teams are on-top of any organizational changes. All activity regarding prospect accounts and where they are in your sales funnel is crucial.
The problem is that the burden of research takes away time from the sales process. Sales people need to sell and you don’t want to leave your sales team unprepared to handle specific situations.
Save your sales team countless time by implementing sales intelligence solutions. Keep updates — well, up-to-date. Contacts, and contact information integrates seamlessly with CRM solutions like Salesforce.
Any of the big data solutions can be accessed on multiple devices. Your sales team can keep crushing it while the data intelligence provider keeps them informed of any recent changes.
5. Innate Intelligence
According to Jeb Blount, author of Sales EQ: How Ultra High Performers Leverage Sales-Specific Emotional Intelligence to Close the Complex Deal, remember:
“Ultra-high sales performers possess four types of intelligence that are tightly intertwined, each connecting, affecting, and amplifying the others.”
Blount’s Intelligence Factors:
First is your intelligence quotient (IQ), which is “an indicator of how smart you are” and immoveable. “Ultra-high sales performers are smart people,” says Blount.
“They are keen observers and have insatiable curiosity. They have the innate ability to connect disparate ideas, data, facts and patterns to develop unique and original solutions to problems—a critical competency in sales for discovery, challenging the status quo, and developing unique solutions and recommendations.”
6. Acquired Intelligence
The second type of intelligence is acquired intelligence. “Innate intellect is useless on its own. It must be honed and developed.”
Unlike innate intelligence, “acquired intelligence (AQ) is not static.” It can be developed through “schooling, training, reading, along with practice, adversity, and experience.”
Ultimately, acquired intelligence makes IQ relevant and useful.
7. Technological Intelligence
“Technological intelligence (TQ) is the ability to interact with technology and weave it seamlessly into one’s daily life,” says Blount. “Those who fail to develop this ability or who resist developing it will be left behind.”
For example, Jerry Pharr is Director of Field Readiness at Outreach. Pharr used Chorus.ai to automatically record and transcribe the meetings. This information was then used to be instrumental in their sales process.
“What does that mean? We have specific language we use to discuss each of the four themes in our discovery process” says Pharr. “Using their AI, we know which themes were or were not discussed.
“We quickly listen to parts of a meeting, and tie adherence to our sales process to advance the rates of our opportunities. With this data, we can increase adoption by rep through personalized coaching.”
8. Emotional Intelligence
“The ability to perceive, correctly interpret, respond to, and effectively manage one’s own emotions and influence the emotions of others is called emotional intelligence (EQ),” Blount says.
It’s absolutely vital these days as more and more customers demand more personalization. EI accomplishes this by helping you better understand and empathize with your perspectives.
You can connect with them in order to start building a long-lasting relationship.
Detailed content should improve the performance of any sales organization, but it also works the other way around.
Effective content marketers use sales intelligence gathered from sales operations to create content your sales team can use. Useful tools like an infographic of a case study can spark a conversation among your audience.
Gathered intelligence encourages your sales team and content marketers to collaborate on boosting sales intelligence.
Great content also improves processes like:
- Lead nurturing. By creating content that is relevant and useful to your audience, you’re encouraging them to move along the sales funnel.
- Lead generation. When you improve your sales intelligence, you’re ensuring that your content will reach the right people, at the right place, and at the right time.
- Cross-And-Upselling. You want to keep the conversation going so that your customers will remember you the next time they have a problem.
For example, email a survey asking what products or services they’d be interested in. Ask how you can help with current services.
Segmentation is simply reaching the right customer with the right message. This is based on their needs, interests, budgets, or other attributes.
For example, if you sold suntan lotion, then you would segment your customers by geographical areas. Some places are having exposure to the sun, while others are in winter.
Selling suntan lotion when an area is in current winter weather will guarantee you a frosty reception. (Sorry I couldn’t resist!)
Other attributes for segmentation can be needs, interests, budgets or other attributes. If you sell products or services to businesses, then you would segment them by attributes. Consider the business size, location, industry, or their specific goals like increasing sales.
You can obtain this information by using analytics. Better yet, ask leads and customers this information via questionnaires or a web form. Ask your leads or customers as many questions as possible when you have them on the phone.
11. Initial Pitch
If you have a list of segmented prospects then work on creating an introduction that’s going to hook them in a matter of seconds.
While this will vary from business to business, essential elements include:
- Company introduction.
- Brief overview of what your product offers.
- Focus on your unique selling proposition.
- Interaction cues, such as questions, affirmations, or pauses.
We all know customers can be fickle. Some days they may not need your product or service.
It just verifies the importance of follow-ups. By following up it gives you the chance to uncover more information about your prospects.
This time you may catch them at the right team, and strengthen the relationship with customers. You do this by inquiring how the product or service is working out for them.