How important is Account Profiling in Lead Generation?
The reason behind undertaking account profiling by a business or its sales team is to understand and gather information related to a specific set of accounts so as to design a strategy or an access plan.
Every profile mission undertaken by a business is one of its kinds with respect to the type of information that is gathered. Most of the time, the information so generated is a blend of important contacts, the priorities that needs to be set, the challenges that has to be met, reporting about relationships , understanding the crucial goals that has to be met, gaining idea about what influences purchasing decisions, generating or triggering opportunities, gaining insight about status and other competitive information.
In general, it is seen that it is very difficult to gain entry into bigger accounts primarily due to varied buying influence, tough and complex decision making processes including scattered accounts across varied divisions and locations.
Also larger organizations possess their own closely established buying cycles. Hence it becomes very essential for a new seller to make himself established to the purchaser at an earlier stage in the buying process so as to provide a chance to influence the buying process.
Account Profiling – A trick to establish perfect customer relationship
The trick to establish the perfect customer relationship lies in not only recognizing the relationships but also in conducting live projects, undertaking of inventory, asset valuation including conduct and carrying out of prospective projects for the entire year.
Account profiling that is done for larger accounts requires lot of time. It also calls for thorough probing that needs to be undertaken involving phone calls, verification of contacts, web research , undertaking of projects that are active including prospective project, expiry dates of service contracts, asset valuation etc.
Armed with so much information, the sales team representatives become quite adept, efficient and productive when it comes to handling of larger accounts. Another way is to approach an efficient 4 Primary Steps in the Market Research Process such as iResearch Services. This will relieve the sales team of its burden to solely focus on what they are best at doing-That is selling.
The Account Profiling Process offered by iResearch Services involves the following–
- Gain latest and in depth knowledge about your target customers/accounts.
- Bring reduction in your learning curve
- Reduce the sales turnaround period
- Locate the best possible opportunities for your venture
- Bring out and influence your expertise to the fore so as to satisfy your potential customer’s requirement
Account profiling when undertaken by any business helps in bridging the big difference that exists between a prospective business and one that has been closed. It provides the rightful insight to the sales team in pursing only those leads that are likely to provide results and not go on a wild goose chase. This helps the sales people to connect only with those relevant potential consumers to establish the truth needed to finalize the deal rather than chasing random prospects.
Account profiling in short can be termed as the perfect blend of exhaustive set of research techniques along with the perfect use of the power of latest technologies and sharp human acumen to deliver the right prospects at the right time to generate leads.
If you are looking for specialized account profiling services, get in touch with us for more details.