Your business produces a tremendous amount of data every day. But is that data only being used to manage the business, or have you evolved to the level of using data to drive measurable growth? If the questions you are asking your data use key performance indicators (KPI) to reveal developing trends, then the answer is a solid “maybe.”
Looking for the “Yes” in Your Data
The first quarter is an excellent time to make changes to how your sales team utilizes your data. With the rest of the year to see outcomes, refine your understanding of the trends, and make adjustments, you can set operational and strategic goals that demand some agility. Getting from “maybe” to “affirmative” requires asking questions that point your attention toward the particular data sets that could change your relationship with your clients for the better.
Can we develop this project or relationship further? Your data may know something that your sales team does not about your clients and their needs. With their contacts, a trusty sales force is always gathering information that can point you to opportunities for growth if compiled and analyzed in a timely fashion. It is one thing to know who your biggest clients are, but do you know who has the potential to become better clients?
If your data is being analyzed in real time, you can be alerted to new risks and opportunities before it is too late to act on them. Is a regular client ordering less than usual? Is a new client ordering far less than clients of similar size? These are just a few of the questions a real time analysis of your data could answer.
Putting the Answers in Front of the Team
The data and data analytics required to move from storing basic customer details to being alerted to prospect and customer opportunities is one of the main reasons that two decades after the advent of CRM software, sales intelligence solutions are just beginning to be adopted. Sales intelligence can be powered by the large amount of data that is generated by your business, but the analytics must be focused on evaluating prospects and customers from a sales perspective, rather than a service or production perspective.
Many companies have ERP or CRM solutions that can power sales intelligence and, with a well thought out data gathering and updating process, a sales intelligence program could potentially be created without buying and implementing another major software solution. Best of all, a custom sales intelligence portal could put the valuable intelligence in front of sales team members in real time wherever they are.
Sales intelligence makes it easier to meet and exceed your business goals. Purpose-built software allows your team to put existing client data to work so their time is spent effectively growing relationships and revenue.
Triple Helix provides platform-agnostic, open-source software solutions for the aerospace and manufacturing industries, as well as for businesses in the service, healthcare, and non-profit sectors. Our solutions complement existing technology investments to avoid costly replacements. Contact us if you would like to schedule a risk-free consultation to see if Triple Helix can help your company better organize, access, and analyze your data.
