Most sales teams know the importance of data. But many are using incomplete, outdated information. The benefits of using a comprehensive external source of information like Red Flag Alert are huge.
Here are three examples of businesses using Red Flag Alert data to grow revenues.
Financial Services Company Reliant on Referral Business
Like many financial services companies, this business acquired the majority of its new customers through referrals. This meant that growth was slow.
Financial service providers are essential at certain times. Consider a manufacturer struggling with cash flow due to unpaid invoices, or a fast-growth business having to balance an influx of new costs.
So there were many ideal targets, but, when outreaching, reps kept hitting the same objections: prospects already had a provider and were unwilling to change.
Reps didn’t fully understand the problems their leads were facing and, without this information, demonstrating value was challenging.
Without data, the sales team had no way of knowing when to target these companies.
Implementing data into the sales team’s workflow had an immediate impact.
From day one the team was able to build prospect lists targeting companies they knew would get massive value from their offerings.
By looking at the services they provide, plus the needs of their existing client base, the financial services company’s sales team were able to find businesses that were facing similar challenges.
They could then tailor pitches based on what the data showed.
The final piece of the puzzle was using sales triggers that told the reps exactly when to make contact.
For example, if they saw that a business had just suffered a bad debt, they could go in with a solution to this problem.
Lead Gen Experts with Vast Data Needs
This lead gen firm had a very specific need: to provide sales teams with quality leads across many industries.
Unfortunately, traditional data sources were not providing the volume required.
The company also struggled with old, inaccurate data. It frequently showed out-of-date information such as directors who were no longer at the company or office locations that had since changed. Sometimes the business in question no longer even existed.
But, there were problems even when the data was accurate.
Without in-depth intelligence on prospects, the company struggled to provide high-quality leads.
Better data was the solution.
When the company signed up to Red Flag Alert, it instantly gained access to a database of 6.5 million UK companies.
They could filter this information based on the criteria they knew mattered most to clients. Providing high-quality leads at scale was no longer a problem.
Neither was data accuracy.
As Red Flag Alert data is continually updated, the company knew they always had access to the most relevant information. Any changes to a company are instantly reflected in the data set.
The Red Flag Alert rating system also meant reps could quickly eliminate leads that wouldn’t meet the credit criteria of clients.
Energy Broker Looking to Stand Out in a Competitive Market
This energy broker operated in a competitive market. But it struggled to make its service stand out.
A huge issue was that all other brokerages had access to the same data. Finding an advantage was tough.
Insufficient data affected the company in four main ways:
1. It used the same sales triggers as all the other brokers.
2. The lack of detail meant the company struggled to match prospects to energy providers that were a great fit.
3. Monitoring clients was a challenge as the existing dataset was updated slowly. The brokerage couldn’t quickly suggest new plans when clients outgrew their existing ones.
4. The company wasn’t able to see when customers began struggling financially, leaving them open to risk.
Red Flag Alert data solved these problems.
The company used our huge data set to find exact match prospects based on its ideal customer avatar. They were also able to use triggers, such as a company changing its address, to reach out at the ideal time.
When they did reach out, the sales team was armed with crucial insight into the prospect’s business. Their sales pitch could target the company’s exact needs.
Monitoring became instantly easier, too.
The brokerage was able to use signs like an increase in revenue or a rise in employee numbers to spot when a client was outgrowing its plan.
What’s more, as it automatically reflects in the company’s CRM database, account managers have no problem spotting these opportunities.
Power Your Sales Team with Red Flag Alert
These are just three examples of how companies use Red Flag Alert data to power sales. But it can be used in many other ways.
Request a free demo to see how our platform could help your business benefit from:
● Information on 6.5 million UK businesses, with 50,000+ added every month.
● Ove 100 data points on every business in the database. These are updated 100,000 times a day.
● Details about 20 million+ decision-makers.
● A financial health rating that accurately predicts a company’s chance of insolvency.