The “Winning Clients, Delivering Value” blog series is based on our latest free eBook, The Ultimate Guide for Winning Clients and Delivering Value. In these posts, we will break down 15 of the simplest ways to use Industry Intelligence from Vertical IQ to improve your prospecting skills, boost credibility, increase your sales closure rate, and build strong, long-lasting relationships to enhance client retention.
Have you ever had a recurring stress dream? Maybe it’s about being in high school and forgetting your locker combination. Or perhaps you’re in college and aren’t prepared for an exam. No matter the subject, you likely feel a sense of relief when you wake up and realize it was only a dream.
The anxiety of being unprepared
Whether you’re a teenager in school or an adult fully ensconced in your career, there’s no question that feeling unprepared is stressful! That’s why I’m a firm believer in sales call preparation. But I also know that there are moments when time is tight and spending hours on the internet to learn every detail about a prospect’s industry and business simply isn’t feasible.
The real conundrum here is that today’s business owners have certain expectations of the companies they choose to do business with. They are looking for credibility — someone who has proven expertise about the owner’s niche and can add value to the relationship. Because of this, it is rarely effective to go into a prospect meeting and lead with your product. Many owners will view this cookie-cutter sales approach as being unprepared … or even lazy.
Where expertise, credibility, and saving time intersect
How are you to reconcile the client’s or prospect’s desire for expertise and value with your jam-packed schedule? It might be easier than you think …
As we share in our eBook, The Ultimate Guide for Winning Clients and Delivering Value, it’s as simple as incorporating our highly actionable Industry Intelligence into your sales and account management processes. With the help of Vertical IQ, you can quickly and easily access, review, and deliver valuable industry data and insights for your prospect’s or client’s business, which in turn can generate a noteworthy ROI for you both.
Let’s take a look at three easy ways to highlight your industry expertise and credibility while also saving time on your call preparation by using Industry Intelligence.
3 simple ways to showcase expertise and save time
1. Prove your credibility
PwC’s 2024 Trust in U.S. Business Survey reveals just how important trust is in sales. The survey found that 61% of people have recommended a company that they trust. But what is perhaps even more important was the survey’s finding that more than a quarter of buyers (28%) are willing to pay a premium in order to work with a company that they believe is trustworthy.
Indeed, no relationship — business or personal — will endure without trust, so first and foremost, you must show clients and prospects that you know your stuff. And that requires more than just explaining your product or service inside and out. It means understanding the nuances of their industry and how the combination of you AND your product can solve their challenges.
Let’s face it: “How’s business?” won’t cut it anymore. To boost credibility with new and existing clients, you have to ask knowledgeable, industry-specific questions when you speak with them. This serves the dual purpose of getting them talking while showing them that you understand how their industry operates, the latest trends, and common challenges. Gain bonus points by incorporating industry lingo into your conversation too.
When you establish a reputation for having reliable expertise in your client’s or prospect’s industry, it will naturally increase their confidence in your recommendations and guidance. What’s more, it increases the likelihood that they will refer you to others.
To quickly build your knowledge, be sure to review the Industry Profile for the business owner’s industry prior to your call or meeting. Pay special attention to the Industry Overview, Industry Trends, Risks & Opportunities, Call Prep Questions, and Industry Terms.
2. Save time while boosting industry knowledge
Data from Inside Sales shows that sales professionals spend up to 20% of their work day researching prospects. Sounds like a lot of time, especially when you consider that percentage translates to one non-revenue-generating workday per week! But, as we’ve noted, your clients and prospects expect this level of expertise and readiness from you. Coming in unprepared is a sure-fire way to blow the sale.
The challenge, of course, is that many salespeople cover a diverse industry mix. This makes it especially difficult to get and stay up-to-date on each and every customer’s industry before making a call or heading to a meeting. You need a simple and effective way to quickly access reliable, timely industry insights.
Industry Intelligence from Vertical IQ allows you to save hours of pre-meeting prep time by putting current industry financials and other salient industry data right at your fingertips. It’s both easy-to-digest and time-saving while providing you with insights that are 100% relevant to your conversation with the business owner.
You’ll want to review the Industry Profile’s Profits and Operations, Financial Benchmarks, Industry Trends and Outlook, and Risks & Opportunities chapters. But don’t worry: If time is tight, the Call Prep Sheet can get you up-to-speed on an industry and its financial dynamics in just minutes!
3. Share the Industry Intelligence love
To really set yourself apart from your competition, you need to be bold about sharing your industry expertise in a way that truly adds that all-important value that business owners are looking for. Not coincidentally, that’s one of the biggest benefits of using Vertical IQ.
Our actionable Industry Intelligence is intentionally designed to be easy to share with your business owner-clients/prospects. For example, print or email portions of the Industry Profile that you think would be helpful to them and their business. Or share a timely news article pertaining to their industry.
Oftentimes, business owners are clamoring for these types of industry insights but they simply don’t have the time or money to seek information out themselves. By providing such salient content and business data, you will bolster your reputation as a valuable resource for timely industry research, and you can offer them the information they need to support their company’s success.
The bottom line: Conquer sales anxiety with Industry Intelligence from Vertical IQ
Sales is a demanding and rewarding profession. Preparing for a call with a prospect can be anxiety-provoking under the best of circumstances, but coming in cold, not having done your research, is the real nightmare!
Put your stress dreams about being unprepared to rest! For sales professionals, Vertical IQ is a timesaving dream-come-true. Maybe more importantly, however, our actionable, convenient, focused Industry Intelligence can help you showcase your expertise about a business owner’s niche. And it’s that type of value-added relationship that business owners have been dreaming of!
Ready to get started? Check out Vertical IQ pricing here.
Want a demo first? Request a Vertical IQ demo here.
Want to learn more about 15 actionable strategies to use industry research to win new relationships and continuously engage your existing clients? Download Vertical IQ’s free eBook, The Ultimate Guide for Winning Clients and Delivering Value!