Sales Intelligence: A Comprehensive Guide to Scoring Better Deals
From identifying quality leads to building long-lasting relationships and closing deals, every bit of information about your prospects can be a deciding factor in the final outcome. However, sales executives generally don’t have the time or resources to collect, organize and utilize that data. This is where sales intelligence comes in to make this process faster and easier. Modern sales intelligence tools are transforming how deals were pursued in the past with limited data. Today, sales intelligence is turning the need of the hour for enterprises trying to stand out.
What is Sales Intelligence?
To put it simply, sales intelligence is an organized process of collecting, analyzing, and interpreting data about your prospects and customers. A sales intelligence tool gathers this data and presents quality insights needed to increase conversions and close more deals.
Companies that have implemented a B2B sales intelligence solution reported generating 35% more leads in their pipeline and 45% higher-quality leads.
Even though businesses have been closing deals for a long time, the competitive landscape of 2022 is turning harder as days pass by, even for business that thrived before the pandemic. Since the pandemic shook the global business ecosystem, many new enterprises have emerged, making the market more stuffed than it was. This has led to greater competition among businesses and is precisely why sales intelligence is vital in closing deals.
In this article, we will explore the benefits of sales intelligence in closing high-quality deals and why the future of global business relies upon it.
Sales Intelligence Leverages Multiple Sources for Reliable Data
One of the most powerful features of a sales intelligence tool is its ability to collect data from multiple sources through the use of Artificial Intelligence and Machine learning.
Most sales teams can only collect data from a limited number of sources. However, the 2022 competitive landscape requires us to extract high-quality data from maximum reliable sources.
Generic sales data such as a lead’s activity log or web tracks are no more reliable in assisting sales. In order to better understand your prospects, you have to utilize insightful data that only a sales intelligence tool can provide, such as signals.
For instance, insightful signals into what your prospects need, what they are working on, and more are required in 2022 to power your sales efforts. Some of the best examples of such signals include:
- Mergers & Acquisitions – to understand relevant market-shaping decisions.
- Partnerships – to keep track of significant developments.
- Deals – to decipher the needs of the prospect.
- Executive movement – to stay updated with critical leadership decisions.
- Mass hiring – to analyze the talent equation of your prospects.
- Centre set ups and expansions – to align with their growing needs.
- Product development – to track regular developments.
- Regulatory actions – to understand major and minor actions that affect your prospect.
- Patent filing – to stay updated with key innovations.
- Market activity – to grab the pulse of the market.
- Investments and fundraisers – to understand the relevant financial aspects.
- Events – to know your prospect
Sales Intelligence Tools Organize Data In the Most Useful Form
In business, unorganized data can cost you a lot of time and still not offer a good enough insight for you to follow on. Most sales intelligence tools, including Draup for Sales, organize data in a manner that is easy to understand and reduces your research effort so you can always stay ahead of the game.
There is immense value in having a single platform that can automate communication, manage contacts, prioritize activities, capture and filter data, inform insights, publish reports, and more. Having all of the critical data in one place helps your sales team’s other strategies and decisions by saving their time and offering more data to close deals faster.
Sales Intelligence Powers your Prospecting with Real-time Insights
The only way to close deals faster than your competitors is to have access to timely information to speed up decision-making. This means the collection, processing, and presentation of data should be in real-time to avoid missing any potential opportunities.
For instance, your prospect wants to outsource their digitalization program, but this news is ten days old. Chances are your competitors may have already approached them with proposals making you miss a potential opportunity.
To avoid such scenarios, 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
Draup’s Rolodex features data about key decision-makers in an organization, including Budget Control, Personality Influence, Skills Map, Deal Size Influence, and patents. This data can assist sales teams in crafting sales solutions for your prospects.