There’s no denying that data is becoming increasingly important in the modern world. And when it comes to sales, having accurate and up-to-date data can be the difference between closing a deal and coming up empty-handed.
In this post, we dive in to show you how sales intelligence tools can help but also possibly hurt your team depending on how you use the data. If you’re looking to generate more revenue with your sales pitch, then you’re in the right place.
Pros of Sales Intelligence Tools
These are MUST HAVE tools for any business looking to generate more revenue with data… especially if you’re in the software world. By using AI-driven tools, companies can access key information about their target market, customers, and even competitors. This information should be used to make informed decisions about pricing, products, and different sales strategies.
There are many different software tools on the market, so it is important to choose one that fits the specific needs of your business. How else can these tools help you…
- The ability to generate sales leads without having to lift a finger.
- Easily find new companies or accounts that match your target ICP.
- Qualify new accounts BEFORE having a conversation with someone at that company
- Track buying signals and identify any trends to help your team predict future sales
- Find and engage with decision-makers faster
All of this information can be rolled into your CRM as well as give you the ability to create custom reports and dashboards. Therefore, you’ll receive actionable insights before contacting each decision-maker.
If you are looking to generate more revenue with data, then a sales intelligence tool is a great place to start. With the right tool, you can gain a competitive edge and make better decisions that will drive sales and grow your business and ultimately give your team the ability to execute their sales pitch.
Cons of Sales Intelligence Tools
While increasing revenue is always priority, there are also some potential drawbacks to using these types of intelligence tools.
Additionally, these tools can be expensive. So you need to measure if it’s even worth it to your company based on where you’re at. Most of the tools require a significant upfront investment.
Depending on the software, it can be complex to set up and even use. You may need additional training and need to designate someone as a specialist for managing the sales intelligence tool.
Data is great. We love data! BUT if you don’t use it right, then you’re just wasting your time and money. It can be overwhelming and may lead to paralysis rather than action.
Finally, this should not be used as a replacement for good old-fashioned sales coaching and relationships. While they can provide valuable insights, ultimately it is still your people who are going to make the deals happen.
How to use the data
You’ve made it this far so I assume you’re still interested in seeing HOW you can implement this drive more revenue. Start with these four steps, but the most important thing is continuing to utilize the tools along with your CRM as this is not a one-and-done situation.
1. Know your customer
The more you know about your target customer, the better you can tailor your sales pitch. Use data to segment your customers by industry, size, location, or any other relevant criteria.
2. Understand what motivates your customer
What needs does your product or service address? What are your customer’s pain points? Use data to create buyer personas and develop a deep understanding of what motivates your target customer.
3. Identify trends and patterns
Data can help you identify trends and patterns in customer behavior. This information can be used to improve your sales strategy and close more deals.
4. Measure success and ROI
It can help you track key metrics such as conversion rate, win rate, and deal size. This information can be used to measure the success of your sales efforts and calculate ROI.
The Best Tools on the Market
Let us start by saying we are NOT affiliated with any of the following companies. But while we hope to make other people’s “list” of top call or sales coaching tools, we like to give a shoutout to those who are kicking ass in the market. Now if you want a killer solution, then you need to have both Abstrakt and data-driven tools in your tech stack. We’ll get to why later.
ZoomInfo SalesOS combines a comprehensive business database with technology to fuel the data your sales team needs to close deals. It provides an accurate and extensive view of customers, prospects, and opportunities.
LinkedIn Sales Navigator2
This tool features a powerful set of search capabilities, improved visibility into extended networks, and personalized algorithms to help you reach the right decision-maker. LinkedIn Sales Navigator is widely used and sales teams love its accuracy.
Apollo is an all-in-one intelligence platform with tools to help users prospect, engage, and drive more revenue. Both sales and marketing teams use the tool to discover more customers in the market, connect with contacts, and establish a better overall strategy.
Helps mostly B2B organizations achieve predictable revenue growth by utilizing AI and machine learning to uncover customer buying behavior. 6sense can prioritize accounts based on their search history and their current buying needs.
Where do you start
Sales intelligence tools can be a great way to increase revenue, but everyone seems to ask – where do you start? There are so many different options available, and it can be tough to know which one is right for your team’s needs.
First, you need to determine your budget, your goal, and what this tool will allow you and your team to accomplish. If you don’t have expectations set up front, the cost may outweigh the benefit.
Now think about all the data you will receive… What happens when your team gets these prospects on the phone? What if they freeze when an objection comes up that they aren’t sure how to handle, then lose the opportunity?
That’s why real-time call coaching paired with sales intelligence is a dynamic duo – and a hard one to beat. So if you need to create a sales pitch on why Abstrakt is a must-have with your tech stack, let us know – we’ll be happy to help!
But seriously, no matter which tool you choose, it’s important to ensure you and your team not only set it up probably but continue to use it. Utilize your tech stack as a way to give you better insights to improve decision-making and scale your overall sales numbers.