Generating sales and new business can be one of the most challenging aspects of doing business, especially in a stuttering economy. As budgets are being slashed, finding new clients is becoming increasingly complex with long hours spent prospecting between sales and inefficient advertising eating into margins, reducing the value of each sale.
Despite this, too many companies continue to rely on traditional, inefficient and labour-intensive sales processes to target prospects and generate leads. By leveraging Red Flag Alert marketing data, you can reduce time spent prospecting and increase time selling to better businesses in a position to buy.
Below we will look at five ways Red Flag Alert marketing data can improve your sales process.
Access to all UK businesses and over 350 million international businesses
Times are tough and you need to look further for opportunities, but this does not mean it is an impossible task.
Our database contains detailed records on every UK business, giving you access to millions of potential clients. Our system also features over 350 million records for international businesses across the entire globe.
Despite insolvencies being at a record high there are still plenty of healthy businesses performing well and in need of your services. The companies that are thriving despite the tough economy are those that are able to adapt and find new avenues of business.
With our database, you can not only find the best clients but also analyse where the areas of maximum opportunity are and where to target them.
Find your ideal customers in seconds with our powerful search tool
Lead generation is one of the most time and laborious aspects of the sales process and is commonly highly inefficient. Too often, salespeople need to trawl through web searches or CRM systems for businesses in the target area or industry to create a sales list.
Not only is this method slow, but it does not create lists of companies that perfectly fit your ideal customer profile and that are also in a position to buy. Leading to more wasted time contacting unsuitable prospects.
Your ideal customer profile is a generalisation of the business that you sell to most successfully or would specifically like to target. This should take into account:
- Financial position
- Are any other common traits shared by your best customers or targets?
Red Flag Alert features a powerful company search tool that lets you complete highly granular searches in seconds across over 100 different filters and allows for searches as general or specific as you wish. Meaning that your Sales staff can quickly create lists of hundreds or even thousands of companies that want to buy from you.
Quickly create tailored pitches with our easy-to-understand company reports
Your pitch is one of the most important parts of your sales process, yet most salespeople do not create prospect-specific pitches that demonstrate the value of your business in a personalised way. Instead, pitches are generic and a decision maker will hear similar several times a day.
By demonstrating an understanding of a business and its financial position, you can quickly distinguish yourself from the crowd. You can identify specific reasons for how and why you will help their company, not just have generic answers that will suit any organisation.
Red Flag Alert contains easy-to-understand company reports on every business in our database. They can be used to give a salesperson an accurate snapshot of a company, their financial situation and performance in just 30 seconds, or a detailed understanding of a prospect after only a few minutes of research.
Our reports sit seamlessly into your sales process and mean that whoever you are contacting, you are doing so to understand their business and why they need to buy from you.
Avoid bad debt before it happens
Bad debt is one of the biggest threats facing UK businesses. After years of macroeconomic pressures, record numbers of companies are folding and each causes a ripple effect of insolvencies as their creditors struggle to absorb their losses. A company that has recently suffered a bad debt is three times more likely to go insolvent.
Debtors struggling or failing to pay doesn’t just interrupt your income flow but also costs time and money to chase, which increases losses if they do declare insolvency. With Red Flag Alert you can pre-screen companies for creditworthiness and start managing your risk before you even contact a prospect.
Red Flag Alert gives companies an easy-to-understand health rating, that places companies in clearly defined brackets of financial health, and allows you to filter your searches to include only financially sound prospects that can afford your services and are worthy of credit.
As well as reducing your risk of bad debt, sales staff spend their time more efficiently, talking to only the most financially healthy prospects.
Feed data directly into your CRM system
Red Flag Alert can import data directly into and be used from your CRM system. This means that your Sales team can generate leads, view company reports and record notes all from one platform.
One of the biggest hurdles to getting the most out of your CRM system is keeping it accurate and up to date. Manually checking and updating records slows down business and costs staff time, whilst a system full of inaccurate data is not fit for purpose.
Red Flag Alert can update your records as well as import records for companies that you should be doing business with. Allowing your teams to spend less time on admin and more time selling.
Protect your business and supercharge your sales with Red Flag Alert
Red Flag Alert is your floor-to-ceiling marketing data and credit risk solution. Our platform allows you to prospect and target across the entire UK economy, understand the business needs of your prospects and manage your credit risk to avoid your sales turning into bad debts.
In addition to what has been discussed in this article our platform offers:
- Exports of sales data and company reports
- Unprecedented visibility of UK SMEs
- In report analysis tools
- Full director and POSC information
- Full company history
- Easy-to-understand group structure information
- User bespoke portfolio monitoring
- Fully compliant AML and enhanced due diligence checks suite