The Benefits of Real-Time Wealth Insights through an API: Part 1 – Know Your Best Leads
Here at WealthEngine, we believe in the power of using wealth data to drive sales, marketing, and fundraising decisions. Our product platform provides you with a wealth(!) of information on over 300 million consumers. It truly is the best way to dive deep and learn more about an individual to personalize efforts.
However, sometimes you need answers quicker…like, “real-time” quicker. And you need that information within your own platform. What do you do then? That’s where an API comes into play.
We talk a lot about APIs here at WealthEngine. We truly believe that they add another layer onto an already powerful data set. And we want to share all the various ways our amazing customers are using our API to drive positive growth within their own businesses.
In our publication, 5 Benefits of Real-Time Wealth Insights through an API, we share more information about the ways you can use wealth data through an API connection to supercharge your processes. In the meantime, we’re supplementing that with this 5-part blog series. Now onto Part 1 – Know Your Best Leads!
Who are your best leads? It’s not as easy of a question as you might think. It’s easy to answer the question – who are your best customers? But who among the people that haven’t yet bought from you are the best ones? That’s what you can use wealth data to help you solve.
So why is understanding your leads important? Well, consider the following questions:
- How do you prioritize your day?
- Who do you call when you first walk in the door in the morning?
Most sales reps have some level of lead scoring in place to help them with prioritization. But we’ve found that the majority of lead scoring models that businesses have in place are vastly oversimplified. These systems can filter out the obvious bad leads but still struggle in prioritizing a huge number of leads.
In order to combat this, a rep will spend a majority of time researching an individual. They’ll spend time on Google or social media trying to learn as much as possible about someone before they make that phone call. How much time do you spend on that research? I bet it’s as much as 20-30 minutes per call – just to help you prepare and prioritize.
You want your sales reps to spend less time researching, and more time doing what they do best – selling.
Through an API, you can automate the flow of information directly into your CRM or sales platform. In our case, it’s wealth and consumer attribute data. But it could really be any type of information that can drive a more sophisticated lead scoring model and ultimately help you make better decisions.
Have you automated your lead scoring process using additional information obtained through an API? Share it with us in the comments below.
Stay tuned. In the coming weeks, we’ll share more posts around APIs and how you can use them positively within your business. In the meantime, check out our API ebook.