When I first started at LeadIQ I was new to the whole tech industry. I had a lot of questions about the industry and blog posts were my best friend when learning the space. A question I had, that I later found out many people wonder as well but are hesitant to ask, is “what is sales intelligence?”. I am here to shed some light on this question and to help other people, who may be new to the industry or just are genuinely curious, learn more about what exactly is sales intelligence.
What is Sales Intelligence?
If you google “what is sales intelligence” you might get some lengthy business speak definition.
Probably something like this: Sales intelligence is the data collection, analysis and presentation by sales intelligence tools or softwares that help sales teams find and interpret data to target accounts and prospects, or keep existing customers data current.
In more simple terms, sales intelligence is data that allows sales reps to target accounts/prospects that have the highest likelihood of eventually turning into customers.
Basically, sales intelligence data is the key for a sales rep, and the prospects are the locks. I probably could have came up with a better analogy for that one, but you get the point.
Articles that may give you a better understanding:
The Difference between Sales Intelligence and Lead Intelligence
Okay, I’ve explained a little bit about sales intelligence. So what’s up with lead intelligence and how is it different?
Lead intelligence is a step further than capturing data and pushing it into CRM systems and lead lists. It has more of a focus than just basic contact information, such as email addresses or phone numbers. Instead, they sort of build a whole customer profile to help the rep better understand their prospects.
The whole purpose is to try to speed up your sales process by showing you information you don’t have to go digging around the internet for. They may know things like social media handles to how many emails the prospect has received from your company and what the context of that email was.
Here are some articles explaining lead intelligence:
- What is Lead Intelligence and How it Can Help Close More Sales
- What Lead Intelligence Is and Why Salespeople Need It
You may be wondering, okay well I still don’t see how lead intelligence differs from sales intelligence... They may sound very similar, but the major difference to keep in mind is that sales intelligence stops at the integration into sales engagement platforms or CRMs, lead intelligence takes over from there - providing the details of specific leads.
The Key Role of Data Quality in Sales Intelligence
Data Quality is probably the most important thing to note when you’re choosing a sales intelligence tool. Data quality is just that, the quality of the data you are being presented. It’s all about having the correct and current information for the things you are searching for. It also includes things like completeness, accessibility, and timeliness.
What does data quality have to do with sales intelligence? Pretty much everything. Like I said above, sales intelligence is data that allows sales reps to target prospects that have the highest likelihood of eventually turning into customers. How will a rep be able to target and contact a prospect if they have incorrect information for them?
Sales Prospecting with Sales Intelligence
Remember my little analogy? Prospects are the locks, sales intelligence data is the key. Yeah I know it sounds pretty dumb, but it makes sense. Prospecting with sales intelligence goes hand in hand. Sales reps will save so much more time in their sales process by not having to spend large amounts of time searching for contact data.
Essentially, sales intelligence tools are a one stop shop for contact information. That’s why choosing the right tools that will give you accurate, up to date information is so important.
The Best Tool for Sales Intelligence
You want a tool you can trust and rely on. That’s where we come in.
We’ve seen our customers 2x their connection rate with cell phone numbers using our product. This leads to more conversation, more opportunities and most importantly, more revenue generated.
LeadIQ has a real-time data acquisition strategy. Which is a “businessy” way of saying that we reference public data, such as name, title, and company, and provide verified data within seconds. We have over 110 different queries per second to populate contact information for you. Using a real-time data acquisition strategy keeps the database current rather than being limited to a static database where the data often gets stale.
Unlike other data providers, one of our major focuses is how our workflow will increase your productivity. Stop wasting time manually entering data, we help sales reps populate their CRM effectively. We help you make the best first impressions with prospects, without sacrificing sales activities.
Basically, our product helps reps take less steps to make that initial outreach...and since they will be spending that time researching about their prospect, they will then have a much better first impression. Starting your outbound relationships with better cold emails and cold calls makes your prospect open up more, and reveal more pain. More pain means higher close rates and deal sizes.
Visit leadiq.com to get more info on how we can help up your prospecting game.