Business leaders understand that data is the critical heart of growth and expansion. It’s the genesis of thousands of downstream processes and millions of actions.
There’s data, and then there’s data.
It’s not hard to find data: a company name and phone number, employee count, revenue, maybe direct numbers and email addresses, job titles. But long, complicated sales cycles need more than just names and numbers.
Marketing and sales intelligence data is dynamic, which is to say frequently and continuously refreshed. It includes context like decision-makers, organizational reporting structure, financials, budgets, year-over-year growth, company initiatives, personnel moves, installed technologies (the “tech stack”), and predictive features – all in near real-time.
This is data too. But sales intelligence gets more intelligent by the day (that would be machine learning, predictive intelligence, and other dimensions) – in addition to simply growing the database.
A lot of marketing, sales, and recruiting professionals don’t know how much data has changed over the past few years! Read on to see how data has evolved to drive specific business functions and drive revenue in four main areas:
- Data quality and management
- Creating an Ideal Customer Profile
- Lead generation
- Using the technology stack
This is an introduction to the use and impact of marketing and sales intelligence data on business decisions.
1. Data quality and management
You just acquired a list of names, phone numbers, and email addresses. Time to plan your next marketing campaign or start prospecting into your top accounts!
JUST KIDDING. You’ve been in sales and marketing long enough to know it’s never quite that easy.
You know a lot of those phone numbers are probably wrong, that many of those email addresses will likely bounce because people change jobs so frequently. You know a lot of target prospects don’t really have those job titles. The horrors of bad lead lists are endless.
The struggle is real.
Are you new to marketing and sales intelligence… or not sure why you should care?
Our first stop on we’ll take a deep dive into next-level data quality and management.
How do you measure data quality?
We like DAMA UK’s six parameters for data quality:
- Completeness: Is the company, contact, or prospect record as complete as possible?
- Uniqueness: Are there duplicate records? Can records be combined?
- Timeliness: Is the data fresh? Has it been recently confirmed?
- Validity: Does the data conform to a common syntax? (e.g. “ave.” vs. “avenue”)
- Accuracy: Is the information correct?
- Consistency: Is the data presented in a way that is the same as similar records?
While ensuring data quality is the responsibility of a good data provider, ultimately the end user is affected – plus everyone involved downstream, such as prospects.
At the very least, sales and marketers need to know who to call and how to reach them.
Even more valuable are insights into potential opportunities, such as planned projects, purchase initiatives, and predictive insights about topics or solutions of interest that tell you who is ready to buy, and when.
What is data quality, and why is it important for sales and marketing?
You may think that a motivated sales team can easily conduct manual data mining by searching job titles and company info via Google or LinkedIn.
This is a valiant undertaking; however, it is ultimately extremely time-consuming for anyone who’s primary objective is booking demos or closing business.
A. Sloppy databases are a waste of time
How many contacts, notes, and valuable pieces of information are in your CRM or Marketing Automation tool? (If you’re not sure, just check your bill: Most CRM companies charge by the record.)
You rely on it to pull lists, look up contacts, track opportunities, and more. But 30% of that data goes bad each year. If your intel isn’t up to par, it will sabotage your processes and results – and you’re paying for it anyway.
The single failure in an otherwise successful sales or marketing approach is often bad data.
This is a huge problem for businesses of all shapes and sizes. We’re talking high bounce rates, irrelevant messaging, and time wasted calling wrong numbers or contacts who no longer work with the company. No matter how great your copy or elevator pitch may be, it’s worthless if you can’t reach anyone.
Read it: Dirty Data, Done Dirt Cheap
Bad data is a slippery slope to multiple points of failure:
- ROI numbers become skewed. That’s bad news for marketing decision-makers who increasingly track marketing-contributed ROI as a primary KPI.
- Content has misaligned messaging, distributed to the incorrect audience (or no audience at all). A proven method of ruining bounce-rate KPIs is getting blacklisted, and earning notoriety as a sender of irrelevant SPAM.
- Sales calls the wrong people or reaches a gatekeeper, where they will ultimately get turned away or begin the tedious process of calling up the chain.
B. Burned by churn
Data is what data does. And solid sales intelligence provides ensures you don’t get burned by churn.
“Churn” – or high employee turnover – is a part of life in the technology and services space. Part of data quality and management is keeping records updated, so that when employees quit and move around, as they do – so you can email and dial with confidence.
Not only do you have to worry about the churn at your target accounts, you need to worry about internal churn. If your team of marketers or salespeople are working with bad data and constantly hitting dead ends, how long do you think they will continue to be excited about what they are doing? They will get burnt out on using crap data, in turn, not helping them realize their actual potential in setting quality meetings or generating qualified leads. It’s a vicious cycle that never moves beyond cleaning up bad data.
C. Data quality vs. quantity
When you are trying to make a sale or influence someone to consider your product or service, who do you want to reach? An account executive or a CRO? A marketing coordinator or a CMO?
Consistent, accurate data can be segmented to a level of detail that allows you to create a specific, personalized message – for prospects who can make purchase decisions. Intelligence helps you weed through the names and target the decision maker, effectively shortening the sales process.
A huge volume of names in a database doesn’t mean much if those contacts don’t have purchasing power. They’re just contributing to a larger haystack – and make the needles harder to find.
Four C-suite contacts are more valuable than 12 individual contributors.
4. Systematizing database hygiene
Your data needs more than to sit in a database collecting dust. It needs to be dynamic. It should flow in and out of sales and marketing systems, forming a data feedback loop. It needs to fuel, not hinder, your efforts.
Many intelligence platforms integrate with other tools in your tech stack – your CRM, marketing automation, sales development, applicant tracking systems, and more – making the handling of your data more efficient and synergistic.
Look for tools that automatically sync, append, enrich, and de-dupe your data as new information becomes available and your database grows. Automating these functions ensures a clean, quality baseline and saves a lot of time.
2. A data-based Ideal Customer Profile
Marketing and sales intelligence also shapes an accurate ideal customer profile – key piece of business development.
For many companies, the Ideal Customer Profile (ICP) is anecdotal, or based on the opinion of the leader.
If you ask sales leader who they sell to, they’ll offer a few key titles, maybe a couple of industries. They might have a company size in mind. You’ll get different answers from different people across the team, because the idea of a “target buyer” is inconsistent, nebulous, and often based on hunches and feelings – not data.
Sales intelligence allows you to finding companies that look like your ICP in order to quantify your total addressable market. Then you can focus your sales and marketing efforts where it will matter.
Account-based strategy requires a solid ICP
Any sales and marketing-aligned account-based play is going to require a good Ideal Customer Profile.
Indeed, the first step in account-based plays is to identify target accounts: understand who you’re targeting, both in terms of accounts and contacts. You can then have a deliberate, thoughtful approach to prospecting into those accounts and contacts.
The ICP can generally refer to both the ideal company and the ideal buyer:
A traditional ICP (standard CRM fields)
Sales intelligence layers in:
- Intent data
- Business model
Generally, the opportunity for account-based strategy arises once a company reaches a certain level of maturity.
Many startups and small-to-midsized businesses (SMBs) don’t know enough about their target market to know where their niche is and strengths are. At some point, they decide they need to know more about their buyers.
It’s impossible to do that without having meaningful data to prioritize those efforts.
You can’t “boil the ocean.” You have to start somewhere. An ICP is that starting point.
During our first account-based experiment, we turned the camera on ourselves! Watch our 4-part True Story of Account-Based Everything:
When, where, and who your prospect wants to buy
Once you’ve identified the “who,” if you have good data, the rest of the processes falls in place: Who is this customer, and what do they need to hear from me, the vendor? What’s the best format for this messaging? When should I reach out?
Skip the tedious research, and skip the guesswork:
- You know what is on their radar
- A problem that needs a solution
- You know who to call
- The decision maker and associated influencers
- You know how to reach them
- Their direct dial or email address
- You know what to say
- Address their pain point or problem
If your prospect could benefit from a little more nurturing, marketing can send messaging or collateral that is on-point and relevant to whatever challenge the prospect faces.
Now when sales takes the reins, that cold call will suddenly be a whole lot warmer.
#3: Sales intelligence for lead generation
Acquiring new business and company growth go hand in hand. Many companies and organizations have entire teams dedicated to finding new business prospects.
While there are many different kinds of lead generation – content marketing, advertising, SEO, email campaigns, cold calling, list-buying, hosting events, and attending trade shows, just to name a few – a sales and marketing intelligence tool is great for discovering new, quality leads, quickly, as well as enhancing your other lead-gen efforts.
This comes in handy when trying to maintain a pipeline of leads all year long! Sales intelligence is critical for a consistent pipeline of leads.
Turn events into a lead-gen opportunity
A business cannot solely rely on inbound leads to grow and thrive. Sales must get on the phones, attend events, and find leads the “outbound” way as well.
At trade shows and events, some sales professionals collect as much contact information as possible: the more names, titles, and companies they’ve logged, the better.
More information isn’t necessarily a bad thing (except when it is), but it’s not really possible to determine the strength of a lead, or whether the account is worth the time to follow up and win, without some kind of sales intelligence tool.
How to prospect at a trade show with sales intelligence
Trade shows one a very effective way to find a lot of leads – fast. It’s also arguably one of the most expensive. Good business intelligence is critical in this high-stakes function.
The DiscoverOrg event team leverages sales intelligence before, during, and after the trade show or other event – and they see a very high rate of return.
Here are a few ways marketing and sales intelligence contribute to lead generation at events:
The trade show or conference itself may be the central hub of activity – but the demand-gen team uses it as an opportunity to drum up business.
Say, for example, suppose you’re sponsoring a sales development conference in San Francisco:
- Host a related event: Start by looking at the conference roster and at social media to see who else will be there – PLUS companies who have a nearby office and aren’t going to the conference. Then invite them to attend the conference or offer an on-site office visit from one of our reps.
- Create and target a list of good fits: Consider which sales reps are they likely to send – probably an SDR Manager who’s local to the event – then segment the list by area of responsibility, by the rep’s geolocation (not the headquarter location). From there, build targeted contact list and craft a super-specific message, written just for them. Be sure to reach out to these clients and prospects before the show.
At this point, you don’t have to hope your message will resonate. You know it will.
You can also line up pre-show and post-show activities: happy hours, on-site visits, dinners, coffee, follow-up meetings with prospects and clients alike. Since you invested in the cost of the event, plus the cost of sending our sales rep there, you’ll want to take advantage of every opportunity!
After the show, it’s time to address that stack of business cards that the sales rep brought back. Scan the names and email addresses into Excel, then use a sales intelligence platform to match email domains to companies in our database.
In DiscoverOrg, you can look at the org chart to see where that contact fits into the larger organization and see if there’s a better contact to prospect to.
You now have a very clear picture of who to engage with, and how to engage with them!
Follow the org chart to the right leads
Sales intelligence often includes an org chart: A visual map of a company’s reporting structure. This lets sales teams see the one person with whom they spoke for 30 seconds at an event, AND the entire department of peers – as well as their role and hierarchy within the organization!
Think of that stack of business cards you brought back from your latest event. Are the people you spoke with decision makers or budget holders? Probably not … but how do you connect the dots?
Why is this important? If one event lead goes dark, it’s not a dead-end; sales can follow the reporting structure to pursue those who have the signing authority.
A sales intelligence platform like DiscoverOrg can take the name or email address of the person you met and find additional contacts at that same company who should be on your radar – plus other information from the database to enrich the lead.
Nothing beats face to face interaction, and when you can leverage those new relationships to get in front of the budget holders at target accounts it helps boost your credibility.
DiscoverOrg has more integrations than any other data provider. See if we integrate with your marketing automation or sales tracking system.
4. Other sales-intelligence must-haves: The tech stack and Intent Data
As demonstrated, good data solves a lot of business problems! But in addition to accuracy and depth, sales intelligence goes beyond the basics to create a real competitive advantage.
The tech stack: A new way to prioritize accounts
One of the most effective – and undervalued – ways of prioritizing sales accounts is using the technology stack: The tech stack is the combination of software products that comprise a company’s installed technologies.
The tech stack includes such basics as email platform and the operating system, as well as your database, apps, and programming languages. DiscoverOrg includes integrated sales, marketing, and recruiting technologies such as Salesforce, Frontspin, Outreach, Bullhorn, and Marketo.
So why is tech stack data important to sales and marketing leaders? …And why the sooner the better in the sales cycle?
A. Identify opportunity
The answer is surprisingly simple: Many companies have no opportunity to sell into an account unless a specific technology is present.
For example, a salesperson could not sell on-premise data center technologies to someone who only uses AWS. You would not sell Apple accessories into a company that only uses Windows PCs.
Often, installed technologies – or lack thereof – make or break an opportunity.
B. Targeted displacement campaigns
Using competitive intelligence, marketing can direct targeted displacement campaigns toward decision makers:
- Challenge the effectiveness of the current competitor technology in place
- Invite decision makers and influencers to an event
- Differentiate your offering from your competition
- Start a targeted email drip campaign to keep your company top of mind
C. A timely talking point
Integration with a prospect’s tech stack is a great talking point. A competitor’s lack of integration is a also great talking point. The presence – or absence – of a technology is always an opportunity for a sale.
If your offering integrates with your prospect’s tech stack, it’s not a matter of whether a prospect can use a solution like yours: They can, and they do.
Knowing where your competition is installed creates an automatic prospect.
Sophisticated sales intelligence providers include data about the technology stack of target accounts. DiscoverOrg has several integrations, proprietary technologies, and methods of collection that profile over 8 million technology pairings in the categories of Enterprise Applications, Hardware/OS/Systems Environment, Virtualization, Security, Networking, and many more.
True sales intelligence includes installed technology data.
Intent data: A competitive intelligence must-have
Understanding prospects’ and competitors’ technology stack is important – but it’s Intent data that prompts timely outreach.
If sales and marketing intelligence is a Maslow’s Hierarchy of Needs, Intent data is at the very tippy-top:
- Fit data is the primary, basic requirement: The right contact at the right company
- Opportunity data means favorable conditions, such as a funding event or a new CXO
- Intent data is near-realtime information about a prospect’s intent, such as a flurry of web searches, or multiple content downloads on a particular topic
Intent and Opportunity data are hallmarks of sales intelligence, and they’re not part of a standard, raw data offering. Intent data is an interpretation of implied pain points, and it provides a stark advantage against a competitor: timing.
[STUDY] See how to get truly predictive results from Fit + Opportunity + Intent data.
Competitive intelligence at the right time
In real estate, the mantra is location, location, location.
In sales, it’s timing.
Sales and marketing professionals know this well. The perfect solution and access to the perfect prospect means nothing if the timing isn’t also perfect.
We may not know exactly what keep an individual target prospect up at night.
But if we know that her company’s Director of IT Infrastructure recently left; that she declined to renew a contact with their current cloud storage provider; that the #1 web search at her company is for “information security” … Well, we can make an educated guess!
Intent data can also alert you when a competitive contract is about to expire. Intent data often includes a certain measure of machine learning and/or artificial intelligence that may include an analysis of historical or other data to provide context and more accurate predictions.
This information is gold. Financial timelines are a key factor in winning deals.
Sales intelligence is simply an abundance of accurate, curated data that integrates well with other systems. It helps B2B sales, marketing, and recruiting professionals make an informed, well-timed approach to solve a real buyer problem.
At the end of the day, sales intelligence is really just human intelligence.
See what sales intelligence like this can do for your sales or marketing team. Request a demo.