In our most recent blog post we discussed how a company’s internal data has numerous benefits for the organization. We gave examples of how internal data can help a company’s decision making, marketing strategy, and sales outcomes. In this post, we’ve decided to delve into one of those benefits with greater detail and highlight the ways in which a company’s internal data can help their sales strategy and process.
We’ve broken down four sources of internal data that can help your company inform its sales strategy and help its sales process:
Minimizing your expenses gives way to maximizing your profits. By reviewing your finances regularly you can help to monitor essential fiscal details such as overhead and production costs. However in order to do so accurately, you need to ensure you have the proper mechanisms in place to understand and analyse your costs.
Keeping track of these financial details on spreadsheets can be cumbersome and prone to errors. The best way to manage your company’s finances is through a customized data platform that shows your decision makers the precise information they need in an accurate and easy-to-digest dashboard.
- Data Trends
We believe robust and comprehensive data is the future to making profitable decisions in your organization. Look for consumer behaviors or market trends that can provide insights to develop an in-depth sales campaign. Also, look at your existing customer base compared to your prospective customer base, and identify how you can tap into your desired demographic using existing knowledge as well as future trends.
Remember, without the appropriate platform to aggregate and analyze your organization’s data, the information might be inaccurate or incomplete and cannot be trusted to make decisions.
- Show Your Customers an ROI
Leveraging insights from your data on how your product has led to a return on investment (ROI) can be a powerful sales tool. Imagine being able to pull up compelling dashboards and visualizations that show your customer how they have reduced man hours, increased profitability, or streamlined workflows. What better sales tool than to use your customer’s own data in a compelling way to demonstrate your product’s value.
- Upselling Tool
Once a customer has seen an ROI, upselling to the next product or increasing a service package offering is a no-brainer. Being able to speak intelligently with your customers about their own facts and figures gives your sales people credibility and authority, making upselling an intuitive and easy decision to make.
Showing your clients, rather than telling them, how impactful your other products and services are will prove what they are missing out on and can lead to more adoption of those offerings.
How do you begin to use your internal data to create a sales strategy and improve your sales process? Start by reaching out to Treehouse Technology Group today. We are the data experts who can take your company’s internal data and help your organization increase sales.