How to Improve Your Sales Intelligence
Sales intelligence (SI) is a revolutionary approach to increase a company’s sales performance. But how can you fully utilize this technology? Read on to find out.
Technology is contributing a massive chunk in improving a startup’s business processes. You can easily find specialized tools for customer service, finance, marketing, and even human resource management.
However, there is still one specialized tool that is not yet widely adopted by startups. And that is sales intelligence.
In this article, you will find more on sales intelligence and how you can improve your sales process in the long run.
Getting to Know about Sales Intelligence
Sales Intelligence (SI) is composed of technologies and applications used to collect, integrate, analyze, and present information. All these are to help salespeople understand data to successfully provide insights for the daily business of prospective and existing clients. Put simply, SI is artificial intelligence in sales.
Unlike other previously mentioned business tools, artificial intelligence in sales is not as widely used. A lot of companies are confident enough of their human workforce to close every deal.
As salespeople are ego-driven individuals, they are often self-reliant with their skills in negotiating with clients. However, there are some instances where human capacity is limited. And this is apparent, especially in sales prospecting.
A perfect example of this is an insurance company. An insurance agent needs to master multiple insurance policies to answer the prospective client’s questions. However, insurance has lots and lots of policies that you need to recall. The human brain can only do as much.
With the help of a sales intelligence software, an insurance agent can gather the client’s data and match their need to a policy. Furthermore, this technology reduces the chance of giving the wrong information, which often happens in sales. As a client, it is such trouble receiving a different service from what you were previously told.
With that, it is safe to say that the absence of an SI can lead to a loss in opportunity costs. This cost could be thousands of dollars that your company can make.
As SI helps startups increase sales, they need a more efficient and practical approach. Startup leaders should consider ways to improve sales intelligence.
Is Your Sales Intelligence Underutilized?
An idea or two might have crossed your mind that sales intelligence is not helping your sales at all. But maybe you’re simply not using your software the way it should be.
Here is a common scenario for companies using SI. A company receives a considerable amount of data generated by sales organizations. These data contain sales content and even leads. However, the sales team did not even bother using said content. Why do you think so?
Though the content is a bulk collection of useful data for sales, it is too large and inconvenient for actual sales calls. Who would want to do a cumbersome job of searching through a pile for what they need to pitch their prospective clients?
What your sales team need is good content that they can grab during a call. This can only be done with good sales intelligence software.
How to Improve Sales Intelligence
How do you improve your sales intelligence? Aside from good sales intelligence tools, we have a list of ways how.
1. Boost your sales intelligence for lead generation
Targeting the right people is one of the biggest hurdles in sales prospecting. But once you boost your sales intelligence, you are sure to reach the right audience.
Your SI tool can feed your lead generation efforts by analyzing successful sales. How??
You can use good sales intelligence to compile data from your successful sales deals. Information such as demographics, market research, and issues that match the problem you are solving.
With that data, the leads you attract are sales-ready because they perfectly match the attributes of your previous clients.
2. Segment prospects according to data gathered
A good sales practice when prospecting is to gather as much information as you can. You must collect this information for the following:
- financial situation of the company
- business requirement
- market position
- business performance over a period
- requirement for growth
With this information, you can create a detailed inventory of the companies. Then, you can group companies of similar profiles. Once done, this can help your sales team label each category according to priority to allocate appropriate energy for every prospect.
3. Use software that helps you close more deals in a call
In this Startup Hustle podcast, Marc Bernstein shared his first sales call experience. He was fresh out of college and very much confident of closing a deal. In short, Marc was ready. Or so he thought.
Once the call was connected, and it was time for him to speak, his words were slurred. He couldn’t get a single coherent word out of his mouth. In the end, the prospect client hangs up the phone. An opportunity lost.
This scenario is not a unique experience; a lot of salespeople may have had the same experience. No matter how confident we are, there will be times that nervousness and anxiety eat us up.
To address this problem, Marc Bernstein founded sales intelligence software for sales calls. The first live call guidance software, Balto.
Balto software works as an AI guide for salespeople during a live call. This approach is new and the first in the SI industry.
Balto analyzes speech both from the client and the salesperson. Instantly, it delivers critical information to the representative while the call is ongoing. Sales reps need not worry about forgetting what to say because Balto can lead them to the right path.
Increase Sales and Scale Your Startup
To conclude, sales intelligence is becoming an increasing trend in the sales industry. SI can gather appropriate information for lead generation and increase the chance for a successful sale.
When utilized right, SI can boost your sales performance tremendously. As long as you use your tool to its full potential and choose the right tool for your business, you can guarantee success.
Sales intelligence software such as Balto can immensely help a startup with its sales performance. You can check out their website and even request a demo to have a firsthand experience of how it works.
But if you need a sales intelligence software tailor-fit for your company, then you need to hire experienced developers. You don’t need to hire in-house developers; it’s not practical. You can hire affordable developers offshore from Full Scale.
Full Scale is a house-full of skilled and experienced software developers that cater to your startup’s needs. Our pool of developers ranges from different programming languages and expertise. You don’t need to undergo the hectic phase of screening developers. You can choose from our list and go straight to the interview.
Increase your sales now and scale up your startup. All you need to do is contact us to schedule an appointment.