Red Flag Alert is an indispensable sales tool for businesses in many different sectors; it uses detailed and up-to-date business intelligence to help sales teams close more deals.
Good Sales Data Versus Bad Sales Data
Many businesses with established sales operations own a large amount of data – but it doesn’t always help deliver sales results. Red Flag Alert’s Richard West explains how data can sometimes hinder sales:
“A lot of businesses approach Red Flag Alert looking to make better use of sales data. They often have 500,000 records and have spent a lot on data that doesn’t work for them. The data is often out of date and hard to filter, leaving them with ineffectual sales campaigns.”
Bad Sales Data:
- Isn’t updated regularly.
- Doesn’t have the detail needed to build successful campaigns.
- Contains lots of old and irrelevant information.
Richard summarises how when a sales team plug the Red Flag Alert data into its CRM, sales results can be transformed:
“Red Flag Alert’s software helps a business as the data is continually updated, meaning the business can stop worrying about using information that is out of date the moment they buy it. Our data has 50,000 updates every day – it’s a live dataset that continually delivers new opportunities and removes old irrelevant information.”
“Red Flag Alert is also very detailed – sales or marketing teams can use dozens of different filters to build highly specific sales lists.”
“The data plugs into a business’s CRM, so they know that every day when they fire up their sales data it has been automatically updated – this creates extraordinary efficiency and opportunity.”
Good Sales Data:
- Uses the latest available business intelligence.
- Has the level of detail needed to build highly segmented sales lists.
- Updates automatically so teams don’t need to continually buy new data and update it manually.
Become a Data-Driven Sales Organisation
By using Red Flag Alert’s business intelligence software, businesses can become significantly more targeted in their approach to sales. Here are ten examples of how Red Flag Alert uses specific data to drive sales.
1. Zero in on Growth
Red Flag Alert collects a range of metrics that indicate business growth, including revenue, profitability and net assets. Finding growing businesses is important for anyone who sells services to support growth like marketing, finance or leasing businesses.
2. Access Start-up Businesses
New businesses are being opened at the rate of 50,000 a month. These businesses need a raft of services, and while many start-ups don’t have huge budgets, there are certain services they generally need, like IT leasing, web development and software.
3. Find Businesses in Financial Distress
Red Flag Alert has the most sophisticated financial health rating in the UK – these ratings collate all available data and predict the likelihood of insolvency. Businesses with poor financial health ratings are the perfect prospects for businesses that offer relevant services like insolvency, low-budget alternatives or leasing.
4. Know Your Area
Business turnover in any area is high; Red Flag Alert captures the data of every company operating in a certain region. Access to this data allows businesses to make sure they are targeting all relevant companies and not wasting time on dissolved businesses.
5. Target Businesses with Liquidity Challenges
If your business helps address working capital issues like invoice financing, outsourcing or logistics, using Red Flag Alert means you can zero in on businesses that are having liquidity issues. You could build a sales list that looks at businesses with constant liquidity issues and approach them with your solution.
6. Target Businesses with High Cash Reserves
Businesses with cash reserves may be good prospects for anyone who provides a service to deploy excess capital like investment advisors, financial planning or high-end marketing agencies.
7. Target Businesses That Hold Large Amounts of Stock
For businesses that offer warehousing, insurance, distribution or provide wholesale products, zeroing in on companies that carry lots of stock is a good sales strategy. Searches can be developed in certain industries so a wholesaler in furniture can find relevant retailers that invest large amounts in stock and thus build a valuable prospect list.
8. Target Businesses That Have a Large Asset Base
Businesses that hold a lot of assets may be useful for many different services, from equipment leasing to cleaning. For example, in the hotel industry if a business owns a large amount of physical assets they may be a good target for insurance brokers, finance businesses that offer equity release deals, or estate agents looking to help acquire the hotel’s next property.
9. Look for Related Businesses
Red Flag Alert has detailed information on 20 million decision-makers and indicates when an owner holds multiple directorships – this can be an excellent opportunity for cross-selling and finding new opportunities within a current client base.
10. Enter a New Sector
For any business looking to branch out and offers its services into a new sector, Red Flag Alert is the perfect tool. All businesses are filtered by sector, so building a target sales list is simple.
To discuss how Red Flag Alert can enable your sales team to be more data-driven, please get in touch with Richard West on firstname.lastname@example.org or 0344 412 6699.