Harnessing the Explosion of Data

 

Society today is faced with both a blessing and a curse: the continual explosion of data that is now available. While all this data can be overwhelming and consume massive amounts of time and energy, it can also be leveraged rather quickly to produce additional important knowledge. Sales organizations that learn to skillfully harness this explosion of data will be able to derive extensive and continuous business benefits. Here are three examples:

 

Extended Customer Profile

– Information about the company’s mission: its top customers, its key strategies, and how they position their offerings to their customers. 

– Their financial statements provide details about their brands, markets, competitive positions, their key risks and business challenges the company faces and must address. 

– Reports from industry analysts. These provide insights on the company’s outlook, industry direction, and buying preferences. 

 

Using this information can help your sales teams better define their account targets and pursuit strategies. 

 

Social Media 

– Press releases and social media feeds that your customer uses to announce news about new products, solutions, and services. 

– Sentiment from consumers and other business customers and whether any service issues can be identified as major problems. 

 

Using this information can help your sales teams better understand the competitive nature of your customers and can help formulate specific approaches for prospecting and in preparation for upcoming meetings. 

 

Competitor Positioning

– Information regarding your customer’s key competitors and how they position their company and their solutions. 

– Information regarding your wins and losses versus your specific competitors can help you establish winning strategies in competitive deals.

 

Building a competitor repository can help you gain an edge when it comes to better positioning your company and your solutions against your competitors in the marketplace. 

 

I’m DJ Sebastian, for more info on how AI will transform the sales profession, check out my book at my website thetechseller.com. 

 

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