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Data Driven Targeting: Knowledge is Power

Data-Driven Sales

Data is essentially the ‘bread and butter’ of the 21st century. This ever-growing concept is used in our everyday lives. From professional to personal and night to day, data is core to our everyday operations. In regards to data, the only limitation is your imagination, it can be utilised in a copious amount of ways in order to provide significant results. Business has never before been so competitive, with more and more companies competing to provide the best services, sell the greatest products and succeed in their industries. Thus, finding the key to get that edge on your competitors is vital in this day and age. Strategic selling is more necessary than ever, rather than the tradition spray-and-pray techniques that lead to lower sales conversions.  So how can data-driven targeting enhance your company’s sales?

How Data can transform your Sales Team
Imagine having all the possible data on every potential client of yours, you could know the ins and outs of their business, who they sell to, are they growing, what’s there maximum credit limit and more. Now, what if your team could utilise this information, filter it and, from there, map out the best potential clients based on many data fields. You would essentially have the key to the most pinpoint and accurate selling possible. However, it is not as simple as that. With data comes errors, you may look within your own company to draw out data, to utilise what you have and from there generate a decision. Human errors play a big part in the misleading and mishandling of data, in fact, according to IBM poor quality data costs the U.S economy alone $3.1 trillion annually.

The first step is always to look within. What data do you have in-house that you can utilise? Getting the grasp on your own data can help your company strategically plan the best way forward. Your data-driven targeting techniques may be limited by using only in-house data but it will guide you to what you need. Setting clear and tactical sales plans to know what your customers want, to establish a specific clientele and to create a team who are, essentially, one step ahead of the competition is the ultimate goal.  Once you acknowledge the fact that you can use your own company’s data to distinguish a sales path you can then progress towards understanding what specific data you are looking for. Data such as: Employee numbers, location, investors, company news, Standard Industry Codes (SIC), recent acquisitions or more. However, the limitations of in-house data may be a dilemma towards pinpointing your clientele.

There are numerous solutions to digging up more data, and, more specifically, high quality data. It is important to understand that quality data carries a lot more weight than the quantity of data. Data that is outdated, written in local language (foreign to your own) or incorrect due to human error, can have major negative implications on your company. Thus, it would be wise to research into Customer Relationship Management (CRM) tools such as Salesforce. Platforms such as this contain a multitude of data packed, pampered and ready to be utilised. This hub of intelligence can potentially provide your company with all the answers that it has been looking for. Your sales team has learnt to utilise data, has understood the specific data necessary for the clientele you desire and now has the resources to filter out unnecessary or unwanted information, leaving you with clear sights of who you should be targeting. Data-driven selling techniques may just be crucial for your company’s growth.

The Cedar Rose Solution
Data isn’t always the easiest to gather, nor is it the most reliable, therefore it is important to sieve through your data to correctly manipulate it. Additionally, some regions prove to be much harder to draw data from, language barriers, difficult jurisdictions and lack thereof are a few reasons that may put the brakes on your data quest. Nonetheless, Cedar Rose may have the answers you are looking for. For over 20 years Cedar Rose has been compiling data from the hardest of regions, translating and transliterating for your convenience. We make it easier than ever to attain source graded, award-winning and globally trusted data. Our database (CRiS) has data on over 23 million individuals and 12 million companies, specialising in the Middle East and North Africa (MENA) region.

Moreover, CRiS is also available on CRMs such as Salesforce, to spread what we have for the benefit for others to use. If you want to take the Salesforce route, contact nicole.konstantinou@cedar-rose.com for more information regarding Cedar Rose on Salesforce. Otherwise head to contact orders@cedar-rose.com and book your free trial with our exhaustive database today.

If you enjoyed our article on data-driven sales, make sure you check out our recent article on business credit.

Written By Jack Evangelides, Marketing Assistant

Sourced Image: Freepik

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

About the author

Jack Evangelides

Jack Evangelides

I am currently a Marketing Assistant at Cedar Rose.
I graduated from the University of Kent in Philosophy and Politics, two areas which I thoroughly enjoy researching.
In my leisure time I enjoy playing football, working on my website and, furthermore, I am a passionate animal lover, especially dogs, where I have 6 of my own.