Help your customers and members to succeed and avoid risk

7 minutes Mark Halstead

Membership organisations, trade associations, software vendors and generic businesses that have lots of customers but also lots of competition, are always trying to find an edge or ‘value add’. Something that will set them apart and further justify subscription or service fees.  We have seen discounted services added luxury, extra or loyalty discounts but rarely is there an opportunity to provide something that can genuinely help grow a partner business or a tool to protect it against business risk.  Red Flag Alert does both, if you want to access the very latest data to identify ideal prospects to target you can do that simply.  By contrast if you want to know who to avoid or just keep close tabs on any organisation so that you can respond quickly and efficiently it does that too.


An added revenue stream

Most organisations are looking for ways to grow revenue and keep costs to a minimum, the RFA system can help you do both too.  You will probably be the most prolific use of the intelligence to help you target new members of customers that you didn’t know about or reduce bad debt by avoiding signing people up who can’t or won’t pay your fees.  One way of recovering the cost of your licence is to become a re-seller of the system and share the cost amongst your customers or members.  Some organisations go a step further and leverage the popularity of the system to generate revenue over and above what the system costs so that it makes more than just one positive contribution to operations.

The RFA solution receives between 80,000-100,000 updates daily and uniquely includes data on non-limited businesses.  The very latest addition is to include almost 2m contact email address and mobile phone numbers to the over 6m business records that comprise the intelligence system now.  The mainstay of the data has always been the financial and companies house updates but increasingly as good quality business prospecting data becomes more and more scarce RFA has emerged as a leading opportunity to provide digital prospecting data for you and your members or customers.

One of the more popular requests is to identify all of the businesses in a locality that have just started in business, ideal for membership to local chamber of Commerce for example but also ideal for any business wishing to help launch a new business such as printers, web designers or office furniture providers.  The use is vast so any organisation that can provide this intelligence as part of its annual service fees will be highly respected and valued.

Software as a service can be significantly enhanced via Red Flag’s API

AS RFA’s system is web based and accessible 24/7 it can be easily established to become part of the source data criteria for other systems that themselves process data.  Some accounting systems can use the data to ‘auto’ check new accounts to determine credit limits or just validate that they exist.  Other CRM tools can draw on the data to update or monitor trading performance, company house updates or personnel changes to prompt some communication or activity, or they can embed prospect records into the customer recruitment operations.

The Application Program Interface or API has been built to provide more open access to the ‘backend’ of the system to enable users to get more from their software solutions. The more that can be integrated into the host services the more valued and used it will be.  Also with the dynamic and constant daily updates, your software users will also have the very latest data at their fingertips.

The RFA system has been around for some time but has largely been sold to and provided for the accountancy and legal professions where it has done a great job.  Now with the added contact data and focus expanding to include monitoring and prospecting, the system has a whole new lease of life and marketplace within which it can operate and thrive.

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richard west Mark Halstead Partner

Mark's experience is big data analytics, financial services and building businesses provides Red Flag Alert with strategic direction.