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.