What is sales intelligence and how exporting companies can benefit from it

What is Sales Intelligence?

The concept “Sales Intelligence” is based on a computer system of data collection and analysis from potential and existing clients. This technology collects and transforms data into relevant and useful information for a company. This information can collaborate in numerous areas in a company, like knowing in detail how are the marketing campaign working in the “pipeline”, to discover all the companies that are not on your radar, but meet the requirements of “buyer persona” and should translate into prospects to contact.

In most of the cases, it integrates their functions with diverse CRM, a tool that the company uses to manage the relationships with their clients y be able to predict their shopping behaviour.

Utility of Sales Intelligence in the context of exporting companies

This Sales Intelligence allows comercial team of exporting companies solve two of their biggest barriers when they have to export: finding all the importing companies of their product and having de contact data of all the potential clients' comercial team members. This way, the exporting company acceeds to all the information it needs to make a good strategic decision making, cause this comprises the general landscape it faces.

All of this makes the companies they export their products make a client prospection and be able to evaluate the competence without the need of travelling, with real time updating data about what is happening. Furthermore, in this kind of trips you depend on the opinions of the people you interact, so you don't get a complete and reliable information at 100%. In addition, it allows to investigate the competence about what are they selling in each market and whom are they doing it in each moment.

Benefits of Sales Intelligence for exporting companies

If you are an exporting company, the benefits you can aspire implementing the Sales Intelligence are numerous.

Costs reduction

This companies, firstly, will reduce time costs thanks to the market analysis effectiveness and their actors, cause it process the relevant information and makes it available to you quickly. Also they will save time and  resources in areas like trips to investigate other markets or the competence, since they will be able to obtain easily the information they want by a simple search.

Secondly, they will reduce their sales costs. The software manages to concentrate in the most potential leads optimizing and organizing thousands of data from the different markets. Thanks the data precision, the companies will be able to make decisions consciously, which leads them to a more efficient resources assignation and a better client segmentation.

Decision making support

The Sales Intelligence supports the decision making with statistic data, what means a reduction of the margin of error when deciding how, where and with whom to carry out the exportations. As we have seen in the previous section, this happens because of de precision of the information generated by the actual and historical data extracted from the international transactions.

With our platform, you will be able to explore and obtain information from different marketis about the main importers, with their transactions and sales volume, and the competitors, too. This will provide you precision at the moment of making decisions and contrast data from diverse markets and importing companies with whom to distribute their products, getting the best options for your company.

Calculating lifetime value and improving customer experience

A key function of this technology for the companies that are selling their products in new markets, is the capacity of calculating the customer lifetime value and improving their buying experience. Attending, it will allow them to centrate on the most sales potential clients and work on their fidelization.

This is possible because of the centralization in the attraction and fidelization processes in an only system, in addition of their continue attendance all its development. In this way, it will allow them stay in contact with their clients full time. It can be before the buying moment (during the catchment moment), or after; when the potential client is already a buyer and the thing we pretend is keep it.

To calculate the LTV (Customer Lifetime Value) of an importer, the Sales Intelligence collect the frequency and purchase volume over time, and pile up thousands transactions of the different companies to get a selection of the best candidates with a better accuracy.

Maximizing ROI

Finally, including Sales Intelligence into your sales strategy, you will increase the possibility of maximize the ROI of your company exportations, this means, you will be able to planificate and distribute your resources based on real goals, with the objective of increase the rentability.

Total costs and return of investment are completely different concepts; with ROI you calculate the rentability reached after making an investment or a concrete process, allowing the exporting company determine in a precise way the rentability exporting in each market. The result is obtained subtracting the invest costs from the total incomes, and then dividing them between the total costs.

Artificial Intelligence in Sales Intelligence

Importance of the AI

Nowadays, a fundamental technology in Sales Intelligence tools is Artificial Intelligence. In many occasions we ask how far can the AI go. Well, in Sales Intelligence, the role this technology plays is based on ease tramits like analytics, follow-ups or investigation about companies for allowing the sales professional accomplish his main function: building relationships with potential clients, a task that AI can’t do.

Uses of AI in Sales Intelligence

This instrument can be used for two differents purposes in Sales Intelligence. On the one hand, AI collects and filter millions of information lines about a company from diverse data sources. This way, it is possible to obtain a big detail and accuracy in the extracted information. On the other hand, it acts like a recommendation tool, what means that it makes you suggestions based on the the information collected and understanded to provide, for example, which are the companies with whom you should contact. Thanks to the amount of information it is able to process, it doesn’t just make recommendations based on general data, it also compares them with information about you experiences and current clients.

Conclusion

Definitely, if you are an exporting company, to enhance your sales strategies ang generate a positive impact on your results, you need the information that a Sales Intelligence provides when exporting. For example, xNova International offers you solutions to speed up the expansion of your company to new borders; with tools for investigate your competence and potential clients and markets, you will achieve to make the difference in the commercial approach of your company.