How to Manage Your Sales Relationship Database for Better Prospects

In today’s information era, the power companies are able to leverage with data was unthinkable just twenty years ago. Every aspect of a business is now a pool of data is to be gathered, analyzed, and utilized. When used in conjunction with machine learning, the possibilities are literally endless.

Do you feel that your company is using your sales and customer data to its fullest potential? How well do you incorporate the data from your database in efforts to strengthen your pipeline? In all likelihood, your company is probably not using the sales database to its full potential. Whether your business is B2B or direct-to-consumer, the significance of using data to paint a picture of what your consumer base wants cannot be overstated.

The data revolution has many companies looking to make sense of their collected data in efforts to increase their earning potential. It is likely that your competitor is on this same mission. The following tips will show you how to build meaningful relationships with prospects using the data gathered during sales transactions.

Relate to Your Target Consumer

The most important thing that we learn from our sales database is who our customers are. The demographic information, which is foundational to sales data, is the bedrock of understanding who exactly our target customer is.

Some of the most useful consumer data points you can gather about customers are:

• Age
• Employment Information
• Location
• Marital Status
• Income
• Purchasing Habits

Obtaining and analyzing this data presents a roadmap to engagement with current customers and also shows what areas are of interest to the rest of your prospects that are not yet familiar with the quality and service your brand provides.

Fully Utilize Your CRM Platform

Customer relationship management (CRM) applications are the single most transformational addition to the landscape of customer interaction in recent history. Why? The answer is simple; companies are now able to have meaningful connections to their prospects and customers. A business’s relationship to potential clients is important when grooming prospects.

To often, people in the sales community will use their CRM platforms in a narrow and unimaginative way. The potential of CRM software is far greater than the mere hi-tech Rolodex that it is commonly used as. These management systems are responsible for collecting, categorizing, and utilizing customer data to increase engagement and sales.

The functions of CRM software are as follows:

• Collect Data
• Categorize Data
• Analyze Data
• Reporting
• Marketing Transmissions
• Sales Task Automation

Can you honestly say that your team is utilizing all of these features for the benefit of your bottom line? If so, congratulations on being among the elite group of marketing professionals that are seizing the power that data offers in a meaningful way.

Personalized Transmissions and Special Offers

Personalization and customization of marketing transmissions and special offers speak directly to the needs and tendencies of customers in your database. The current boom in data collection among small to medium-sized businesses has given these entities the ability to connect with customers in an unprecedented way.

There is something that is considerably more endearing about a personalized email from a thoughtful marketer than that of a cookie-cutter email that you are sure has been sent to countless others. There is a host of information that is easily gathered from sales databases that can be used to personalize the marketing experiences.

One obvious method is using the name and interests from your database to speak the language of the customer, so to speak. You also know what items the customer frequently purchases from you. This information can craft a special offer that is likely to draw the prospect into the store within a specified time window determined by that offer.

Adding that personalized and customized touch to the email marketing campaigns will get your prospects’ attention right away. People like to feel like they are looked at as individuals and not grouped in with the masses. Personalization shows that each person is considered as an individual whose needs are understood.

Spot Trends

In the fashion industry, designers are always keeping their eyes open for the newest trends. Trends expose the climate and interest in the market at any particular time. Spotting trends in your own business work in the same way.

If you monitor and evaluate the sales of your company from any particular point in time, you will undoubtedly notice some patterns that will dictate the sales trends from those periods. Data analysis can reveal seasonal trends, industry trends, geographical trends, and more. When trendspotting, look at the data with an objective eye. Do not hold expectations of what the data will unfold.

Predict Behavior

One of the great abilities that sales teams are able to glean from good management and evaluation of their sales information is that they are able to, at times, predict the behavior of the market, and at times, even individual clients. You don’t have to use a crystal ball to know what your customer base will do on some occasions.

Predicting behavior revolves around asking yourself what your customers will do next and why. This information is readily available if you properly decode their past actions and purchases. Learning to predict customer behavior can prove to be very rewarding for your business.

Conclusion

Data is a goldmine for companies seeking to expand their brands and increase their market share. The details contained in the information we gather illustrates who our customers are and give critical insight as to how to best build business relationships and rapport with your brand and your prospects. How will you use your sales relationship database for better prospect outreach?

customer care concept -DepositPhotos

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