Did you know that Conversion Intelligence (CI) is essential for your sales performance? That’s because Conversion Intelligence (CI) is the collection and analysis of external data relevant for your company, such as competitor information, consumer and market trends, and other external sales-related factors.
Let’s have a closer look at the benefits of CI for your company and why it’s a good idea to outsource this business function.
- Empowerment
To build a comprehensive sales pipeline, your business development staff and salespeople need first to get “the big picture” before they can even think of building e.g., buyer personas or ideal customer profiles. Conversion Intelligence is highly useful to provide your sales team with qualified information that will shorten the sales circle since they will be better qualified to make informed decisions. However, the process of collecting and analyzing CI is time-consuming, so outsourcing is a good option.
- Higher Closing Rates
Conversion Intelligence is also a great way for your sales staff to close more deals, since they can make informed decisions to concentrate on those (qualified) leads that have the highest chance of turning into paying customers. CI also allows your salespeople to address concerns and overcome objections they will have the market and competitor information to argue the unique selling points of your company. As with Business Intelligence (BI), it’s a business function that is ideally suited to be outsourced for better results.
- Shorter Sales Cycles
Conversion Intelligence also shortens sales cycles, which is especially important for sales staff working on commission. The shorter the sales cycle, the higher the chance of keeping the interest of potential customers. As any salesperson can tell you, potential customers lose interest once their buying process becomes too long or complicated. CI provides your salespeople with the tools to overcome objections and close the deal quicker.
- Cross-Department Collaboration
Just to make clear – external data about markets, competitors, buying trends, etc. that is collected and analyzed serves not only your sales team. It is also a valuable source for helping your C-suite to make informed decisions about e.g., allocating resources, product development, business expansion, investments, and even going public. Needless to say, this all stands and falls with the quality of the CI. That’s why outsourcing it to a specialized company is an excellent option.
- Improved Market Position
Since CI enables faster time to market (TTM), shorter sales cycles, and higher retention rates. It also boosts your competitive advantage and supports sustainable business growth. In other words, Conversion Intelligence helps you to consolidate your position as a market leader.
Conclusion
Overall, Conversion Intelligence (CI) is crucial for companies of all sizes, regardless of the sector they are active in. However, it takes specific expertise to know how to collect and analyze sales data for effective Conversion Intelligence (CI). It requires in-depth knowledge of the market and the industry, and the completive landscape that a company is active in. Since sales teams are already under a lot of pressure to generate sales for the company, supporting them by outsourcing CI is a great way to improve sales and prevent burnout. Especially when a company employs multiple sales teams located in multiple remote locations, outsourced CI will bring consistency and conformity that will improve sales performance across the company.
Interested in finding out more? Contact us at info@prosperio.io. We will be happy to discuss how we can help you with your CI needs.
