John Kenney, CEO, Cotney Consulting Group
To be successful in today’s business environment, sales teams need competitive intelligence. Good quality data is a window into client behavior. It helps you accurately forecast what your clients will do and what they need. You need to know your client’s preferences and when those change.
No matter how many websites a client visits, they expect a personalized journey and lightning-fast response times. The only way to grow clients is by upping your sales data game. That means utilizing data gathered from collated web content, social media, clients and other credible outlets. In addition, industry experts and even your competitors can help provide competitive intelligence.
Good Analytics Drive Good Decision-Making
Competitive intelligence analyzes data collected about a business’s clients, using a variety of sources to gather insight about who they are and to understand their concerns and needs relative to products or services offered by the business. It is often a top concern among sales teams because they may be ill-prepared to go in front of prospects without it. Success requires your sales teams have the needed information. Much of a sales team’s efforts go into staying ahead of the competition and working to attract and capture potential clients. One report states that 53 percent of businesses say the majority of their sales deals are competitive. Read more.