Every B2B sales leader wants to focus their team’s efforts on prospects who are ready to buy. After all, why waste valuable time on people who are just kicking tires?
Big Data can help. Big Data can seem intimidating and overwhelming. Sometimes it is overhyped, but it is delivering real business results for tens of thousands of companies all over the world, and it can help your sales department. Here’s a simple five step process to harness the power of big data.
1. Identify what triggers your prospect to buy.
The power of big data is that it can identify large groups of people who meet very specific criteria. Once you can identify what triggers people to buy your products, you can profit from big data. Changes at your target companies can be key buying triggers:
- The company receives funding and is ready to spend
- The company expands, or moves to a new office
- The company lays off personnel
- The company enters new geographic markets or launches an innovative new product
- The company faces new competitive pressures
Changes with personnel at your target companies can also be powerful triggers.
- A new Chief Executive Officer, or other senior executive, is hired and they are looking to prove value by doing things differently.
- A key decision maker leaves the company. This could delay your sale. On the other hand, their replacement may want to generate early accomplishments, allowing you to move the client towards a purchase.
- One of your key contacts is promoted. They may have new responsibilities that create selling opportunities for you.
2. Identify your targets using traditional demographics.
Target company characteristics
- Number of employees
Target employee characteristics
- Job titles
3. Refresh your CRM data
If your CRM data is anything like the typical B2B CRM data, the information decays by 70 percent every year as people change positions and business needs shift. Cognism offer a service that allow you to overcome the problem of decaying data, and replace it with triggered prospects who are ready to buy.
4. Add the hottest prospects to your CRM
Cognism Prospector offers fully automated B2B marketing campaigns, to prospects who meet the criteria you identified in steps one and two. Integrated email outreach allows you to test different messages, so you can scientifically, and methodically, identity the most effective email messages for adding triggered prospects to your CRM. Cognism’s priority response rate optimization allows you to identify the most effective time to send your emails to maximize response rate.
5. Use The Better Data To Improve Sales Efficiency and Drive Revenue
Better data allows your team to spend less time prospecting, so they can more time understanding prospects needs and more time closing.
How well does this five step process work? Cognism customers who have employed it have generated an increase in sales of up to 17 percent in each of the next three quarters