Improving sales processes in the company is one of the greatest concerns of management teams. With this in mind, competitive intelligence applied to sales will help you structure sales processes and attain an efficient methodology to close more and better sales.
But, what is competitive intelligence and how does it apply to sales? Competitive intelligence for sales (or business intelligence) is the ability a company has to obtain valuable information and help improve sales, sales decision-making, and in turn increase the conversion ratio. To this end, it is necessary to have the right technology that allows data to be collected, structured and analyzed.
Tools that implement business intelligence benefit from a more efficient and real-time customer data management. In this way, not only is key information obtained at the right time, but it can be better used to make strategic decisions, helping create a competitive advantage for a business.
What can sales tools be used for and how do they help with competitive intelligence
Having a competitive intelligence tool for sales that includes a good sales dashboard will make it easier to create effective strategies based on real and useful data. These applications can be used to:
- Obtain an overview of the company quickly and visually
- Have reliable, faithful and valuable information for better results
- Access information quickly and constantly
- Help make strategic decisions
- Track product, customer, sale and sector performance
- Monitor goals and KPIs
- Report obtainment and analysis
- Implementation of business actions and strategies for the future
- Correction of counterproductive actions and improvement of the strategy
All of these uses make sales applications the best tool to study what is happening in our organization and with our customers, and understand it.
By properly using the information collected we can make future predictions based on faithful and updated information and decide what the best actions to perform are in order to accomplish our sales goals.
You might be interested in: Why you should add SMART goals to your sales method
How to improve sales with business intelligence
The automation of processes and business intelligence offer great advantages to define a business strategy that identifies trends and allows customers to be segmented. In summary, it can help you sell more and better since it:
- Improves the preparation of sales visits
Sales teams have a customer’s history at all times, which is useful to better prepare for each visit based on their tastes, needs, objections and even their interaction with the catalogs in previous visits.
If you want to know more: How to prepare sales visits in a few minutes
- Facilitates proactive selling and the relationship with customers
Correctly analyzing the information we have allows us to offer products to the customer and suggest the solutions that are better tailored to his needs, as well as suggesting supplementary products and use better upselling and cross-selling techniques, as well as proactive selling.
This type of visit is much more pleasurable and proactive, where the agent seeks to educate the customer and offer advice, succeeding in improving the purchasing experience and the relationship with the consumer.
- Allows for the automation of order-taking and other administrative tasks
Taking orders and making reports about the sales efforts happen almost automatically, without the need for significant administrative work and with a constant data updating, integrated with the company’s ERP.
- Helps deal with objections and turn them into opportunities
The ability to make sales reports on site makes it easier for all sorts of details to be reported, including a customer’s objections. They provide high-value information to competitive intelligence, to know more about the inquiries, tastes, trends and purchasing criteria of our consumers.
Related reading: Report sales objections to create new opportunities
- Optimally track visit types
Planning visits and segmenting customers is paramount to achieve an efficient management of the sales appointment schedule and obtain optimal results. With inaCátalog, each touch or click on the screen of the salesperson’s device is registered so as to be transformed into useful information.
Competitive intelligence and mobile CRM, all-in-one
The CRM and competitive intelligence for salespersons share various functionalities, especially by using history data to identify key trends that companies and sales teams can take advantage of to fulfill their objectives and obtain other benefits. Therefore, there are more and more tools that, like inaCátalog does, include this duo, adding characteristics and benefits of both techniques.
In addition to a sales app and a mobile CRM system, inaCátalog is a competitive intelligence tool in itself, which allows you to collect a significant amount of data and turn it into valuable information. On the other hand, it facilitates the structuring of those parameters in order to turn them into information that is easy to understand and usable.
Thanks to it, sales teams can build a solid knowledge base that helps, on one hand, to make smart decisions at the right time to improve their sales strategy and, on the other, to make the right decision on the sales representative’s everyday efforts in order to increase effective visits and improve sales results.
Additionally, inaCátalog also implies a cost reduction by implementing mobility, increased productivity for all teams and the optimization of sales and marketing actions.