How to promote the consistent use of data in your sales department

Most sales professionals are now aware of the importance of data for modern sales. Nevertheless, the practical implementation of data-based sales techniques in day-to-day business still faces a number of problems in many companies. Collecting and archiving in particular is often perceived as a burden by operative sales staff and is frequently left behind in stressful everyday life. The following four measures will help you to effectively implement data-based tools in your sales department.

Define KPIs clearly

Evaluating data effectively is based on a clear understanding of what has actually been measured. This is the only way to draw reliable conclusions and derive meaningful measures from them. Which costs, for example, are specifically included in the customer acquisition costs? In order to ensure a consistent interpretation of the data as well as its collection, it is a good idea to create a glossary. Establish an internal reference tool in which all KPIs are clearly defined. It can be accessed by every employee concerned, so that a uniform awareness exists at all times of what exactly designates which date.

Automate data collection

Collecting data in day-to-day business is one of the critical bottlenecks in implementing a data culture in your sales department. Because with a high workload and fixed goals, this is treated as a low priority by most sales people – and often goes overboard. By automating much of the data collection and maintenance process, you can reduce the burden on your staff while increasing team acceptance of your data tools. For example, with programs that automatically track click through rates or connection data from telephone calls and feed it into your CRM. You can also automate the recording and archiving of your customer master data: By having the Implisense API automatically fill your CRM with it. So you won’t miss any changes because they are kept up to date by a clever data enhancement strategy.

Consistent use of sales data

Make data visible and usable

To ensure that data can unfold its full power, it is not least important where it converges. In many companies, these are still static databases to which not every sales employee has access. Instead, use modern tools that prepare all data clearly for the entire team and can thus become a hub. This way, fewer things get lost, reaction times are shortened and awareness in your sales department is increased.

Use interfaces

You won’t benefit from the largest amount of data if your sales representatives don’t work with this information. So make it as easy as possible for them to access value-adding data. Right where they’re needed. Smartly integrate data from different sources and systems into the workflow of your sales team through the clever use of interfaces. If the helpful data is always just a click away, lower the hurdle to a more active use of this powerful sales weapon. And optimize the performance of your sales professionals.

Improve the consistent collection, evaluation and use of sales-relevant data in your sales team by keeping the hurdles as low as possible for your employees in their day-to-day business. A promising step on the way to modern data-based sales.

Automation of standard processes in banking – win-win for customer and bank

Whether digitisation is seen as an opportunity or a risk is up to each company itself. However, it becomes a risk if you leave it to the competition to use it as an opportunity. The clever use of digitization and automation offers banks in particular the opportunity to offer their customers a much less complicated customer experience. By significantly streamlining processes that were previously stressful for both sides – for example customer onboarding. The basis for this is a set of qualified customer data. Where these come from and how a largely automated onboarding process can proceed is outlined below.

Win-Win situation through automation of standard processes in banking

1. It seems simple: automatically completed web forms

Filling out a long web form is the first hurdle a prospective customer has to overcome on the way to becoming a new customer. Countless surveys have shown that the more long and complex the form, the higher the bounce rate. Reduce the effort for your customers to a minimum by filling out the form automatically. Customers only need to enter and confirm their company name. All other form fields are automatically filled with the corresponding data – the visible ones as well as any others in the background. Now, all that is required is a review by your customer and a final click to send. Within one minute he has everything done. 

For this purpose, the data is obtained from the database of a service provider such as Implisense. An intelligent algorithm keeps the comprehensive profiles of all companies registered in the German Commercial Register up to date. With the help of the Implisense API, an interface to your web form, this data is automatically retrieved. A noticeable relief for your customers and an extremely comprehensive data set for your bank. 

2. The result: a detailed company profile

By using the data retrieval function of Implisense you get a much more extensive set of data than you would be able to retrieve from a new customer using such a form – hundreds of data points for each company. You now have a comprehensive company profile, which forms the basis for further automation, without your customer having to become active again. 

Exemplary company profile of Volkswagen on the free search platform Companies and Markets.

3. Fast and standardized: Automate your checks

The comprehensive data set enables you to automatically verify the legitimacy (KYC) of your new customer and to automate credit allocation processes. Thanks to the uniform structure of the data, standardised processes such as these can be mapped digitally very efficiently. Your employees save a lot of work and your customer receives a result quickly. Another piece of the puzzle in his satisfying customer experience already during onboarding.

4. Human intervention in cases of doubt: complete onboarding

For customers whose situation is clear, the system automatically decides whether the onboarding was successful or the customer’s request is rejected. If, on the other hand, an individual assessment is required, the algorithm passes the case on to an employee for a personal review. Automation does not necessarily mean dehumanization. Even cases that deviate from the standard are taken into account appropriately and do not automatically fall through the grid. The automatic processing of standard cases, however, makes daily business noticeably easier for you and your customer. 

5. After onboarding: identifying potentials for cross- & upselling

Even after customer onboarding, the data record remains a valuable resource for you. The Implisense algorithm keeps the data up to date. In this way, your marketing and sales staff will recognize exciting opportunities for upselling and cross-selling. This process can also be automated: By Implisense automatically searching for similarities between this customer and groups of existing customers, you can find out whether a customer is likely to be interested in a particular offer. A powerful tool to use your sales resources more efficiently. 

Take advantage of the opportunities that digitization offers for banks. By efficiently automating standardized processes, you gain time for your employees and create a satisfying experience for your customers – not only in onboarding.

Exemplary company profile of Volkswagen on the free search platform Companies and Markets.