The most powerful facet of sales enablement is Industry Intelligence – the collection, analysis, and interpretation of industry data, including deals, technologies, key players, and more.
We’ve seen that industries and markets are in a constant process of evolution. Moving at the same pace as emerging trends is critical for enterprises. Keeping a check on the industry is necessary to prevent missing out on the next big industry trend.
Modern enterprises are deploying industry intelligence to discover competitor projects, marketing strategies, product launches, business intentions, and more. They’re also using industry intelligence to learn about emerging technologies, regional and global trends, and industry outlooks.
Data and AI have turned vital for modern sales enablement. Data provides insight into the industry, and AI converts that insight into a potential solution service providers can offer.
Studies indicate that high-performing sales teams are 4.9x more likely to use AI in sales.
Combine the power of AI with Big data, customize it to industry-specific monitoring, and you have industry intelligence for you.
What is Industry Intelligence?
In a nutshell, Industry Intelligence is the sourcing, analysis, and interpretation of data spanning across technologies, deals, business intentions, and more such industry insights.
Industry intelligence provides both qualitative and quantitative data that is concise and accurate, allowing sales reps to make impactful data-driven decisions.
Let’s learn how AI-backed Industry Intelligence can help enterprises outpace industry trends and utilize emerging opportunities before time for maximum growth.
How does Industry Intelligence work?
Industry intelligence relies on AI and Big Data, combined with other backend technologies, to source, analyze and draw insights from millions of data points.
Since it is a facet of sales intelligence, it performs nearly similar functions.
The key functions include scanning the internet for all available information about industries, markets, technologies, geographies, and associated trends.
This information is then sorted, analyzed, evaluated, and presented to the user in a single dashboard for easy understanding.
A sales intelligence platform like Draup analyzes over 16 Mn+ data points daily across 33 industries, 280k+ companies, 2 Mn+ executives, and 19k+ digital tools and platforms.
All of this happens 24×7 in real-time, which gives users access to industry insights before they reach the competitors.
Benefits of Industry Intelligence
Industry Intelligence brings countless benefits depending on user abilities and how they choose to use the insights. However, some of our top picks include:
Unlock the Global Business Ecosystem
One of the top benefits of Industry Intelligence is having access to a 360-degree Eagle’s Eye View of the entire global industrial outlook.
Industry intelligence even allows you to filter through trends, technologies, regions, and companies to identify your target market.
This helps sales teams grasp the fundamental reality of businesses in the industry as they explore new markets or build on existing ones.
For instance, a sales team looking to win deals in San Francisco might want to discover many factors, including:
- The market landscape by accounts concentration & total funding
- The top employers in San Francisco
- The top startups in San Francisco
- Top companies hiring for talent
- Talent characteristics
- Business environment in San Francisco
- Recent acquisitions and funding
This information empowers data-driven decision-making before experimenting with new territories, technologies, or talent.
A similar analysis can also be performed on target industries or markets through extensive filtering options. This data will allow sales reps to craft hyper-targeted pitches that bag high-ticket deals for the company.
Signals Loaded with Insights
Staying up-to-date about industry trends is critical because things are moving at a rapid pace in 2023. In order to keep moving, it’s critical to track the entire industrial outlook of the world and pick the right trends at the right time.
Enterprises that identify a trend in its “declining” stage fail to optimize their strategies accordingly, and the competition wins by staying ahead.
However, since there are over 33 industries and multiple categories of signals, it’s impossible to keep track of everything manually.
Thanks to Industry Intelligence, with the help of AI/ML and Big data, it is now possible to outpace industry trends with ease.
Sales intelligence platforms like Draup track all relevant insights spanning 33 industries and 16 specialized categories.
These insights are delivered to you in the form of easy-to-read signals you can use to identify emerging industry trends.
These signals are delivered as Strategic and Tactical signals and are further classified as:
- Center Setup & Expansion
- Executive movement
- Market Activity
- Product launch
- Mergers & acquisitions & more
Also, subscribers to the Draup platform receive a fortnightly email with curated industry signals and research on technology use cases, business intentions, and more.
Find Emerging Use Cases and Assess ROI
Global businesses are in aggressive competition to bring the next significant trend in the market. At such a time, keeping track of emerging use cases turns a necessity.
Identifying use cases such as AR in MedTech or IoT in Car automation can allow enterprises to optimize their strategies to match the industry trends.
These use cases are “potential success factors” to enterprises that they can take advantage of before them turning mainstream.
Companies that identify emerging technologies and use cases early usually surpass the competition in terms of capturing the market.
Industry Intelligence helps sales teams identify emerging use cases as well as competitors who’re working on them.
Sales teams can micro-target these use cases by filtering through categories such as:
- Business intentions
- Technology areas
Each filtering category comprises of specific aspects of the use case and suggests relevant solutions to utilize them for benefit.
Further, Industry Intelligence also lets sales teams assess potential ROI for each use case so the company can put in the right effort without spending too much on any use case. This information can help companies move faster by learning to adapt to industry trends.
Sales intelligence tools like Draup work in real-time to extract, process, and present data in an understandable manner. This means you get to know what your competitors don’t, making you ready to approach your prospect before anybody else.
With intelligent real-time insights and data, sales teams can –
- Access filtered data by shortlisting their deal size influence, budget control, personality characteristics, sales engagement guidelines, etc.
- Hyper-target prospects by breaking down searches based on location, funding status, company size, leadership changes, etc.
- Track key signals with alerts and build more explicit pictures of their target prospects.
- Generate B2B leads with an ML-based recommendation engine.