When executing CRM strategies one of the biggest problems the companies face is poor data quality and missing data. To increasing the data accuracy and complete the empty data fields can actually have an exponential impact on sales and marketing effectiveness.
Just imagine having deep understandings into your target accounts, which can give you a competitive advantage in both marketing and sales. They help you to prioritize whom to call, create customized messages which can grab the customer’s attention, inspire and encourage prospective buyers to consider your products, shorten the sales cycle, and above all at the end close the sale.
Account Profiling gives the opportunity to gain an in depth understanding of how a potential customer operates, their structure, their key decision makers, their process of decision making, who their current suppliers and their future plans. This service is used widely by companies who are trying to stab new accounts or expand their contact base within an existing account. Account profiles can be used effectively by business to quantify the business potential within an account and are an excellent tool to increase sales.
Here are top 7 ways How Account Profiling Can Increase Sales:
- Updated Account Information
- Whom to Contact
Account profiling gives you a clear picture of who needs to be contacted first. It tell you who are the decision-makers, their roles and so you can call the right person. This definitely will save a lot of time.
- Get an edge over the competitors
There is immense competition in the market, so it becomes very essential to have a product which is different from the competitors to give you an edge over them. Account profiling can tell you which competitor is knocking at the doors of the customer. This makes it easier for the business to differentiate their product or service from its competitors.
- Craft a message that booms
As the sales team has absolutely clear information about the account, it can craft a message which compels the prospects to listen and further its resonates so that it leaves a good mark and grabs the customer’s attention.
- Shorten the sales cycle
Account profiling helps to shorten the sales cycle, this is again because of the accurate and up to date information. It helps to save a lot of time, which can be wasted figuring out who and whom to contact, competitors and product requirement. It actually visions to help you close the sale.
- Possibilities for up-selling and cross-selling
Account profiling creates possibilities to know when to up-sell and cross-sell. This promises to boost the average sale.
- Makes the sales and marketing process more efficient
Account profiling not only on increases the accuracy of forecasting, but it can make the sales and marketing process more efficient. Further it also makes the business more profitable as there can be a good impact on sales. It helps to clearly understand the buying and budget process.
Finally, we can say that the business can gain the market intelligence they need to reach out to the right people at the right companies, and most importantly at the right time.