New technologies have transformed companies and opened up new business opportunities and solutions to increase the productivity and efficiency of many companies.
Commercial intelligence is one of them. Through this methodology, it is possible to use technology to understand competitive environments, opportunities and challenges and involves collecting, analyzing and interpreting information about competitors, customers, products and other market factors.
All of this with the aim of increasing your company’s competitiveness, through strategic and assertive decision processes.
Currently, millions of data and information are generated every second around the world and one of the best and most efficient strategies is to use this data to make the best decisions to increase your company’s results.
Therefore, in this article, we will talk about how your company can use this data generated through commercial intelligence to boost your sales and the success of your business. Check out!
What is commercial intelligence?
To begin to understand how to use commercial intelligence to generate data and use this data to increase your company’s sales, let’s look in more detail at what commercial intelligence is.
This concept is defined as the process of analyzing, transforming and presenting data through the use of cutting-edge technologies.
It uses a wide variety of tools, applications and methods, including data mining, online analytical processing, queries, reports and risk analysis, to provide all the information necessary for your decision making.
With all this information, it is possible to be more assertive when using relevant, updated and reliable data.
We can summarize business intelligence as any information that you can work with to increase the likelihood of a sale.
This information provides sales teams with better insights into who exactly they are prospecting and allows them to form customer approach strategies to increase favorable results.
How important is commercial intelligence for sales?
So, how important is it to use commercial intelligence in your company’s sales?
The main advantage that commercial intelligence provides for a company is the amount of information that can be collected and analyzed at once.
With it, you gain insights and visibility into your business processes so you can identify incorrect or obsolete data, eliminate duplicates, and create key performance indicator (KPI) reports that help you make strategic business decisions.
Check out some of the benefits that commercial intelligence can provide for your company.
One of the main reasons for using commercial intelligence is to increase competitiveness in the market. This happens because your company can identify points for improvement in different sectors, such as: changes in needs, competitors’ pricing policies, news, identifying threats or opportunities, trends, investments, etc.
By analyzing all this information, it is possible to make informed decisions that allow your company to improve its positioning in the market and ensure high competitiveness with its competitors.
Furthermore, with commercial intelligence, you can analyze your customers in depth, obtaining information that helps your sales team identify opportunities for improvement, make the necessary changes, anticipate buyers’ pain points and provide them with excellent service that satisfies them.
With all these actions, customers will have satisfactory experiences with your company and, consequently, will remember it when making their next purchases.
Business intelligence can also be used in the data selection and analysis process, making routine activities carried out much faster than compared to manual or unstructured tasks.
Thus, by using commercial intelligence, processes become more agile and effective, while costs are significantly reduced, achieving high business efficiency.
How to use data to increase your sales?
With commercial intelligence it is possible to extract various data from your company, however, much of it may not be relevant to optimizing your sales. Therefore, we have separated some of the main metrics and data that you need to analyze to boost your sales.
Some of the most important data relates to the market, such as: The demographic and consumption profile of customers, the tangible and intangible aspects involved in purchasing decisions, trends in your area and segment of activity.
Your competition must also be very well analyzed and studied, so that you can make the most assertive and strategic decisions to improve your competitiveness in the market.
However, it is also extremely important to carry out studies and analyzes of the numbers achieved by the company itself. Some of these data are: cancellation rate, customer lifetime value, average ticket, customer satisfaction and conversion rates.
Count with ASB Marketing to increase your sales
If you want to implement demand generation strategies in your business, it is of paramount importance to start with planning.
In this scenario, understand your audience, online behavior, preferences and, especially, make an analysis of your competitors and current demands of the market.
Then understand how your sales process works and what characteristics need to be changed to meet your ideal customer profile.
In addition, it is essential to keep in mind that demand generation does not only occur by paid media, on the contrary, inbound marketing actions (attraction marketing) and demand generation generate very advantageous results for organizations when well employed.
Finally, you can count on an experienced marketing and sales company to support the implementation of these strategies, such as ASB Marketing.
With the best innovative methodologies and tools, ASB Marketing finds its ideal customer and qualifies them through fully automated and personalized email cadence.
When the lead arrives at the purchase decision phase, we only passed on to your commercial team to close the negotiation. With this, we guarantee increased sales, reduction of trade cycle, cost optimization and support in long -term business expansion.
Do you want to know more? Go now and see how ASB Marketing can help your business!