Sales Intelligence Data That Your Team Needs To Reference Regularly
The economy is reopening, but it’s still a challenge to close sales. Post-covid, B2B budgets have shrunk around the world and across most verticals, so potential customers are thinking twice about whether they need to buy a new tool or upgrade their software, and asking harder questions about RoI.
It’s a given that the better you understand your audience’s pain points, anxieties, and needs, the more successful you’ll be at selling to them, but the growing trend for self-serve purchase journeys means that sales employees have fewer chances to influence customer decisions in direct conversation.
With 33% of all B2B buyers, and 44% of millennials, indicating that they prefer a seller-free sales experience, the sales intelligence data you gather becomes even more important, but it can sometimes be difficult to know where to start.
Here are the three types of sales data that your team needs to check regularly.
1. Web traffic data
One of the first and easiest places to go to for sales intelligence data is also one of the most valuable. Your business website and other owned assets can give you important information about sales intent as well as priorities among your target market.
Website analytics solutions like Google Analytics and other advanced customer traffic tools can offer insight into customer behavior. Look for data that creates a customer story, like which pages they arrive at, where visitors move on to from a landing page, how long they spend at each one, etc., and correlate this information with what you already know about that segment’s pain points to refine your marketing campaigns.
Is a lead reading whitepapers on specific issues, or downloading case studies that compare your product with the competition? Have they been spending time on your pricing page, or reading high-level blog posts about your value proposition?
The answers to these questions will tell you whether they are still at the research stage, or moving closer to being ready to close a deal. Website analytics insights can also reveal when a lead is struggling to understand the true value of your solution and would be receptive to a call or email offering a conversation.
Don’t shy away from negative website traffic data either. If a certain page has a high bounce rate or some content is rarely requested, that’s a sign you should probe deeper. Collaborate with marketing teams to work out whether there’s a mismatch between your copy and your audience’s concerns, or if product images and explanations are unclear.
2. Purchase journey data
Every company has a different process for making sales decisions, so your sales process needs to reflect that. For example, is the person visiting your website a decision-maker or a stakeholder, or simply a champion who’ll have to make the case of a strong sale themselves to their buying team? Does this enterprise have a large team that makes buying decisions together, or is there a single executive with the authority to approve purchases?
Understanding the lead’s purchase journey allows you to send more relevant content and make more accurate assumptions about their level of intent. For example, companies with large buying teams are likely to take longer to assess information and come to a decision than somewhere with a single decision-maker, so you’ll need to bear that in mind when deciding if the lead has lost interest.
You can gather purchase journey data through your website analytics, but also from lead capture forms, automated chatbot conversations, and quizzes. It’s important to design your forms carefully — make sure you’re consistent about obligatory fields like role or job title, and avoid overloading forms with too many fields or options so that leads don’t give up halfway through.
It’s also important to pay attention to all the touchpoints that prospects visit — or avoid. Track which platforms receive the most visits at different points in the purchase journey, and measure conversions per platform so you can assess how influential each one is.
3. Customer lifecycle data
Sales intelligence data doesn’t end with the first purchase. Your sales teams need a deep understanding of how your customers’ pain points and motivations evolve throughout their relationship with your company so that you can retain them as loyal customers, strengthen them into ambassadors, and build upon your first success.
That means tracking customer data beyond the first sale. Follow their changing pain points, measure when and why they choose to upgrade and keep an eye on which features are used the most often by different audience segments.
The insights you receive will help you convert new leads with a similar profile, as well as increase retention among existing customers. The better you understand which pain points you’ve solved and how users apply your solutions, the better you’ll be able to anticipate objections, refine your sales pitches, and add value to your conversations.
Customer lifecycle data also helps cast a light on seasonal trends and reveal the most profitable markets.
Intelligence data holds the key to sales success
Enterprise sales are never likely to be easy, but there’s no reason why they have to feel like pulling teeth. With the right data about customer lifecycle, lead purchase journeys, and web traffic patterns, you’ll be able to understand your prospects’ needs and preferences and tailor your sales strategies accordingly, helping boost revenue and profits in 2022.
Mustafa Al Mahmud is the Founder and CEO of Gizmo Concept and also a professional Blogger, SEO Professional as well as Entrepreneur. He loves to travel and enjoy his free moment with family members and friends.