How to use company signals to streamline your B2B sales process
Due to recent advancements in data technology, sales departments are becoming more and more data-driven. Firmographics data such as company size, revenue, location, and industry are already frequently used to identify companies that match your Ideal Customer Profile.
The next step is to use solutions that allow you to understand the dynamics of these companies — solutions that provide company signals data.
Why? Because understanding these dynamics let you focus on the prospects more likely to buy your products and to engage with them in a personalized way throughout your sales process.
But what are company signals?
Company signals are events related to an organization, which you can find from web data.
For example:
- 🗺️ ️Market Expansion
“Orbital Insight Expands Asia Presence with New Singapore Office” - 💰 Funding + 🚀 Product Release
“Bux raises additional $12.5M as it gears up to launch ‘zero-commission’ investing app” - 👩💼 Executive Hires
“SaaS Industry Veteran David Justus Joins Kareo as CFO To Support Rapid Growth”
How to leverage company signals in B2B sales?
Buying signals let you identify qualified leads
Company signals are called buying signals when they let you identify qualified leads.
For example:
- if you are a public relations agency in Singapore, you could be looking for international companies announcing a market expansion in Asia like Orbital Insight.
- if you sell a customer feedback product, you could be looking for new product launches like Bux.
- if you are a B2B neobank, you could be looking for signals like company creation or nomination of a new CFO like Kareo.
- if you are a B2B SaaS company, you could also be tracking for when one of your customer’s champions is changing jobs to ask for an introduction.
Identifying relevant buying signals depends on the specificity of your business, on your Ideal Customer Profile and on your sales strategy. One way to find good buying signals is to look at your current customers and to try and identify a pattern. When were your easiest sales and why?
Benefits
➡️ Identify new leads opportunities that you would have missed
➡️ Focus your efforts on prospects most likely to convert to save time and improve your hit rate
➡️ Contact your prospect in a personalized way and with a good reason
Upsell signals let you identify upsell opportunities.
Company signals are called upsell signals when they let you identify upsell opportunities.
For example, if you are a SaaS company with a freemium model, you can track growth signals from your current customers.
Benefits
➡️ Identify upsell opportunities sooner
➡️ Contact your customer only when you know there is a chance he is ready to upgrade
➡️ Don’t annoy your customers with spam or useless meetings just to stay informed
Warning signals let you identify customers with a high probability of churn.
Company signals are called warning signals when they let you predict a higher probability of churn.
For example, if you learn that one of the decision makers is leaving the company or that the company is being acquired, that means you should really have a chat with your client about how your collaboration will be impacted.
Benefits
➡️ Handle the situations before it is too late
➡️ Reduce your churn rate.
Conclusions
Using company signals throughout your B2B sales process helps you improve timing when you contact your prospects and customers. And in sales, timing is everything to get a good ROI with your sales resources.
With the integration of company signals into your sales strategy, you will identify more sales opportunities, focus on the companies most likely to buy your product, decrease the time wasted on unqualified leads, and improve the quality of your contacts with your customers.
