6 Ways to Use Consumer Data to Drive Better Marketing & Sales – Part 2
Last week, we covered the various ways marketers could use consumer-level data to help their outreach. Go back and read for yourself if you missed it. This week, we shift our focus to the sales team as we wrap up our post on how sales and marketers can use consumer data to drive increased revenue opportunities.
- Lead Scoring
You have a list of leads. They may have come from marketing, a list you purchased, or through your own prospecting. You’re ready to work through this list. Now, who do you call first? What about second? Third? Fiftieth? This is difficult to answer without data. As easy as it would be to start with the A’s and work down to the Z’s, that’s not efficient. You want to focus on the leads that have the highest chance at driving conversions and maximizing revenue first.
Lead prioritization is a real thing, and it’s only done well if a good scoring model that is based on a concrete set of rules is used. These rules can be massively enhanced with consumer level data. For example, if you are selling customized high-end travel packages, don’t you want to prioritize those who can afford it or the ones who have shown an interest in your destinations?
- Drive Better Sales Conversations (and Conversions!)
Let’s face it. You sell to people, not to companies. I don’t care if you’re in B2B, B2C, B2H, or B2[Insert Any Letter] sales, at the end of the day, you finalize your deal by interacting with a person. It’s obvious that if you know more about that person, you can drive a better conversation.
According to the Brevet Group, only 13% of customers think that sales people understand their needs. Sure, this also relates to their business problems. But it’s also focused on understanding the person. Having some information about someone’s interests, attributes, and who they are as a person can arm a sales person with content that can drive better meetings and, ultimately, higher conversions.
- Cross-Sell / Up-Sell to Existing Customers
Well executed cross- and up-selling is a great way to drive revenue for your business. It’s also an effective way to increase customer satisfaction, as you are pairing consumers with products that can better fit their needs and/or are complementary to their purchase. Typically, this practice is done based on the type of product they purchase. For example, if you’re selling a laptop, you may try to up-sell the customer more RAM or cross-sell them a laptop case.
Using data about the specific consumer is another way to drive more up-sell or cross-sell opportunities. By having information, such as a consumer’s net worth or interests, you can help guide them to a product that will better fit their own needs or budget.
There are a number of ways in which consumer data can help drive sales and marketing efforts; these are just a few of them. Companies that are embracing information and using it to enhance their sales and marketing processes are giving themselves a competitive advantage. If you’re not on board with this revolution, it’s about time you got started. Don’t get left behind.
We want to hear your stories about how you’re using consumer data in your sales and marketing. If you have one, please share in the comments below.
Or do you want to learn more about helping your business become more data-driven? Contact us for a preliminary conversation.