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Will Better Customer Insight Lead to More Sales? If so, how do we get that insight?

We are all being told that salespeople need to gain better insight into their customers business.


 We are told this insight will help a salesperson to create better value for the customer by enabling the salesperson to develop and present more focused ideas, challenges and solutions in context with the customer's current situation. But it is tough.  How do we get this insight? Do we really have enough time to do the research? We are not trained and do not have time to do the analytics. Maybe Big Data can help. Lattice has produced an eBook that addresses this subject.  You can download it here via Selling Power. I recommend it. I was particularly impressed with the introduction to this eBook written by Dave Brock, CEO of Partners in EXCELLENCE so I have copied it below for you . You can read more by David in his blog at Partners in EXCELLENCE, or on Twitter at @davidabrock or at LinkedIn (Dave's Profile). You won't regret looking him up.


Rich Analytics: The Pot of Gold at the End of the Rainbow       By Dave BrockPartners in EXCELLENCE   Customers and sales reps are at loggerheads. "Sales people want to engage customers-clearly to sell more. Customers don't want to deal with sales reps, but at the same time, customers are crying for insight and ideas about their businesses. Are there opportunities to improve? How do we grow? How do we ad­dress new markets? How do we better serve our customers? There's a lot of data that shows that sales reps who provide these insights and ideas perform significantly better than those who don't. So selling has changed. It's all about a new engagement model. It's about providing customers with insight, ideas and solutions. It's about nurturing the customer over time to help them understand, implement and execute.   But where do sales reps get these insights and ideas? Sure, there are "general insights or ideas," but to me these are the modern equivalent of "Dear Occupant or Current Resident." What customers want are insight, ideas and data that are directly relevant to them.   Big Data and rich analytics provide sales and customers this capability. Today, sales makes guesses: is this the right customer, is this the right time, and will this resonate with them. They may be wild guesses in the case of prospects, they may be informed guesses based on past experience with them, but they are guesses. Imagine a new world, where the sale rep can intercept the right customer, at the right time, in the right place, with the right information, and the right offer. Imagine a world where we can identify the customer that wants and needs to buy now, and we know what they want to buy and why.   This is not just the promise of rich analytics. This is what many leading edge organizations are doing now! For example, a client of mine, a major Financial Services company has increased their hit rates and conversions and they now consider their analytic capabilities their competitive advantage. Being able to identify the right customer, at the right time with the right offer increases the quality of customer engagement so much, that this process is the key to their differentiation. Big Data and rich analytics, leveraged effectively, change all the rules-and all the results!" Dave Brock, Partners in EXCELLENCE

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