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Data-Driven Sales: Hidden Buying Signals Captured In News Stories
Shifting To a Data-Driven Sales Approach With Hidden Buying Signals
There are a myriad of figures in the market citing the shift in buying process. The availability of information on the web has created a paradigm where buyers do research to understand products or services they wish to purchase far in advance of calling a salesperson. In today’s environment, sellers have less time to form relationships, demonstrate value and ultimately close deals.
The buying process has changed and the way we market and sell needs to follow.
Marketers and sellers need to help guide buyers through their process. It all starts with understanding what starts the process – what are the business events that motivate buyers to begin their search for a solution? There are certain events that occur which create an enormous amount of organic energy and focus due to the strategic importance of these events and the time, effort and financial resources the organization has committed to making them happen. The way we market and sell can adjust to the new buying process by capitalizing on these events with a data-driven sales approach.
The good news is that these events are discoverable – in the news. Media outlets often provide visibility into key company events and their implications. Although these signals are often hidden, when they are acted upon it becomes a competitive advantage and can accelerate the buying process. Here are a few real-time customer examples of business events that trigger a buying process and how they appear in the news.
In the banking industry, customers may have emerging needs for foreign exchange services when events like international expansion occur. Did you know that there were 1,565 international company expansions referenced in the news during Q3 2013?
In the CAD software industry, customers may have emerging needs when events like product launches in the consumer products sector occur. Did you know that there were over 3,000 IT Initiatives referenced in the news during Q3 2013?
In the industrial services industry, customers may have emerging needs when events like plant openings occur. Did you know that there were over 2,502 plant openings referenced in the news during Q3 2013?
In the high tech industry, customers may have emerging needs when events like IT or data center projects and initiatives are announced. Did you know that there were over 1,000 IT Initiatives referenced in the news during Q3 2013?
In the telecommunications industry, customers may have emerging needs when events like new office expansions occur. Did you know that there were over 3,000 new office expansions referenced in the news during Q3 2013?
The amount of information available on prospects is both a great and troubling. It is great for buyers who want to understand products and companies. It is a struggle for sellers who are looking to focus their energy on prospects with needs for their products and services. That’s why it is more important than ever to know what to look for – what events happening in a company’s business drive needs for my products and services. News is such a great source of insight once you understand what to look for.
Leading sellers are using news to find prospects and personalize their message. I subscribe to the idea that people want to relate and in order to relate you must be specific. News stories can be a great tool for salespeople to cater their pitch to events happening in the customer’s business.
Andy Yeoman is the Account Manager of Business Development & Alliances at LexisNexis where he oversees partnerships with big data, media monitoring and content marketing companies who embed news and business data into their software. Andy has been working with companies to enhance their solutions with external data for over 2 years and has worked with multiple SIIA award winning organizations. You can follow him on Twitter @tayeoman.