Using Data To Drive Better Leads

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Using Data To Drive Better Leads

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As artificial intelligence in the world wide web become part of our everyday lives, having access to data isn’t a problem in sales.

Instead, it’s knowing how to use data to determine who you should be reaching out to in the first place.

Rather than spending time in outreach, sending emails and leaving voicemail messages, a better strategy is identifying what companies we should be in touch with in the first place. This is where asking some simple questions before we gather data can make a world of difference in our sales results.

To learn how to do it, we sat down with Bob Scarperi, cofounder of Revenue Vision Partners. He showed us how to leverage data to find great prospects and how to use Data to develop better relationships with our customers.

Because we’re trimming hope from our sales strategy, we’ll use the acronym TRIM to guide us through creating a system with a trigger, ensuring it’s repeatable, building in ways to improve it and of course, ensuring it’s measurable and getting us results.

T – Trigger: bob recommends triggering this system as soon as possible. Ideally, leveraging data should be something we do with every prospect and in every account.

R – Repeatable: to make this a repeatable process, Bob recommends starting by identifying with the industries that your best clients operating. Because there is so much data available, we need to segment to access the data that will best help us serve and sell.

Second, Bob said to determine the size of the best companies you work with. This can be done across both employee headcount and revenue of your best prospect companies. By identifying these attributes, we make sure that we are gathering data only on those high-priority targets.

Third, identify what the total deal sizes of those accounts represent to you so that you can understand the revenue potential they represent. This will be critical in determining how many of these accounts you need to put into your pipeline.

Fourth, identify the available market across those types of companies, with those ideal numbers, so that you can determine the potential market size.

At this point in the system, you will know whether there are enough of these types of customers to justify your time in building campaigns, determining what challenges they have that you can solve, and in providing tailor-made value.

Once you have identified that there are enough of these types of companies to meet your goals, the fifth step in the process is to engage in the data platforms available so that you can get the information you need to determine who in those companies you should be contacting, what those company goals are, current or past suppliers they may have used for what you sell, and any other relevant data you will need to make a strong case for why they should spend time with you.

Finally, create demand generation campaigns that specifically address the needs of this type of customer, in that type of market, in those industries, and with those metrics that are best suited for your products and services and the companies that you work best to serve.

I – Improvable: to improve the system, Bob recommends tracking your response rates and refining your ideal customer profile. You might discover that larger companies are a better fit for what you offer and how you serve, and you will want to adjust your data driven lead generation accordingly.

M – Measurable: there are a few things you can measure to determine how well you are leveraging data in your lead generation. First, track your pipeline velocity and adjust your ideal client profile to better match those who quickly convert. Second, measure how many attempts your salespeople are making in contacting this ideal client list. If your folks are still chasing leads that don’t match this ideal profile, then you know you won’t be getting the most efficient results.

Instead of waiting until you are already reaching out to leverage data, use it early and often in the sales process so that you can sell more and serve more!

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