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27 March 2013

Improve marketing information to boost sales

Content team

One of the key questions that many businesses face when they embark on a major new marketing campaign is how they can translate these activities into increased sales and therefore improve their profitability.

In an article for Forbes, president of US-based marketing group gyro Scott Gillum explained how his firm had performed research for a client to determine why it was missing out on conversions and came up with three key insights on the importance of successful marketing and how it relates to sales success.

Firstly, it was observed that a strong marketing strategy needs to increase opportunities for business. This may involve utilising the available business intelligence data to identify potential targets and ensure that the messaging that you are providing to them is relevant and engaging.

Being able to spot the right opportunities can greatly increase a brand's awareness among potential clients, which leads directly into increased sales, Mr Gillum said.

Using the right business intelligence tools as part of a marketing strategy can also identify shifts in buyer behaviour. This can be used to inform sales personnel about how they should be adapting their approach in order to adapt to this and ensure they are provided potential customers with the right information to encourage them to sign a contract or complete a transaction.

For instance, in one case, sales reps had mentioned the market had become more price sensitive and rivals were undercutting them, but senior management still believed technological innovation would be the key sales driver.

However, by providing relevant information to the board demonstrating the reality, marketers and sales professionals were able to create a more effective strategy that saw immediate returns.

Boosting marketing activities can also create a perception of better sales coverage, Mr Gillum continued. He explained his clients were quizzed about how often they saw company reps and it was discovered that when marketing activities were ramped on and better targeted, customers believed they were in direct contact more often, even though the actual contact frequency remained the same.

Content team, Bureau van Dijk

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How Bureau van Dijk can help you

Certainty is a highly-prized commodity in business. Data might be getting bigger all the time, but this only makes extracting value from it more difficult.

In capturing and treating private company information we aim to give you more certainty – and help you make better decisions and work more efficiently.

 

 

Our solutions are designed to help different business challenges and streamline your workflow. Many of our customers blend our information with their own internal data to get a more complete picture of the companies in their ecosystem.

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