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THE POWER OF CUSTOMER INTENT AND ACCOUNT GROWTH
In today’s sales environment, there is no question about it: Your business needs
every advantage it can find. Your relationships must be stronger. Your sales
processes must be sharper. Every dollar spent must count more. Growing your
existing accounts is the easiest way to find the quickest path to growth.
There are things every business can do to control the time and money they invest
in sales activities. Fortunately, your business can achieve pipeline
acceleration and account growth, even if you have limitations on the time and
money you can invest. This can be done by deploying specific tactics. These
tactics include increasing your understanding of customer intent and finding
opportunities to grow your accounts.
Of course, understanding customer intent and finding white space opportunities
within your accounts isn’t easy. Still, at Next Quarter, we’re doing everything
we can to help achieve your growth goals.
Understanding white space will be critical to growing your business. In short,
“white space” refers to potential sales opportunities or untapped markets that a
company has not yet targeted or penetrated. It can also refer to potential
customers not yet reached by the company’s marketing efforts or sales team.
Identifying and pursuing white space opportunities can be a strategic way for a
company to grow its sales and expand its customer base. By knowing your
customers’ interests and understanding what has been sold to similar customers,
you can fill in the gaps and increase the value of your sales by positioning the
product or service with the best chance of success. This may involve researching
new markets, identifying new customer segments, or developing new products or
services to meet unmet needs. By focusing on white space opportunities, a
company can increase its revenue, gain market share, and stay ahead of its
competitors.
Identifying white space opportunities with current customers can be challenging
but possible with the right tools. Companies should analyze customer data to
identify patterns, trends, and gaps indicating new products, services, or
solution opportunities. Sales reps can uncover potential white space
opportunities and develop tailored solutions to meet their needs by building
strong relationships with current customers and understanding their business
goals.
By using the right data to gather revenue intelligence on a client and similar
client buying trends, sales teams can determine what products or services a
customer would most likely buy. From there, you can identify where opportunities
may exist for your business.
Intent data provides insight into the online behavior of potential customers and
their specific interests and intentions related to a particular product or
service. Intent data is used by businesses to gain a better understanding of
their target audience and to identify potential customers who are actively
researching and considering their products or services. By analyzing this data,
businesses can develop targeted sales strategies that are more likely to
resonate with potential customers and ultimately drive conversions.
Sometimes, understanding customer intent can be intuitive and derived from
personal relationships. However, relationships are limited to specific
stakeholders. For example, a sales rep doesn’t always have a holistic view of
what the company is searching for.
In other cases, understanding customer intent can take more work. However, with
access to the proper data, your business can understand what your customer
wants, why they want something, and how you can fulfill that need. Getting this
information may require using tools well beyond what a human can do. For
example, you can use artificial intelligence to better understand a customer’s
intent. Properly configured AI can get a handle on what a customer needs and why
they may buy your product or service. The data gathered from AI may enable you
to position your brand better to grow your revenue.
Knowing what white space is will help you better understand expansion
opportunities. Having access to intent data will help you understand what
customers and prospects are looking for now and how to position your products
and services. All of this can increase your revenue growth.
However, this information will only get you so far if you don’t have the right
tools. At Next Quarter, we understand that. That’s why we’re proud to announce
our new partnership with Bombora. Bombora is a revenue intelligence company that
provides valuable intent data. It gathers this information by deploying data
analysis, artificial intelligence, and customized algorithms to provide you with
real-time data alerts.
Next Quarter gathers data from your historical sales trends for similar
customers. Using AI algorithms, we provide a score (NQ Score) by combining
historical sales data with intent data that identifies the top recommended
products or services to sell.
When you combine these two tools together, customers can increase revenue
exponentially. By incorporating Bombora’s Company Surge® into Next Quarter’s
Account Growth module, sales reps can truly understand what their customers are
looking for and match their best products or services to upsell/cross-sell
before a competitor, thus increasing growth from existing accounts and reduce
churn. Similarly, sales reps can see what prospects are searching for and use
Next Quarter to review products or services sold to similar customers and see
what product or service is best to sell to the prospect. This all happens within
Salesforce, so your reps never have to leave their CRM, log into other systems,
or have disparate data.
At Next Quarter, we’re committed to ensuring that you have the latest
information at your disposal. We are the first AI-based account planning
solution trusted by Fortune companies. We believe data should be a single source
of truth to help your business achieve its goals. That’s why we’re so proud of
our new partnership with Bombora: We know it will enhance your ability to grow
your bottom line and achieve pipeline acceleration.
Ready to learn more? Contact Next Quarter today to schedule a demo and learn
more about how we can help you fulfill your business goals.
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GET THE LATEST ON ACCOUNT PLANNING,
SALES FORECASTING, AND REVENUE PLANNING.
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