This is the second post in our six-part blog series on “How Vertical IQ Supports the Sales Process,” featuring simple, concrete ways to incorporate economic and Industry Intelligence during each stage of the sales cycle.
In the first post of our six-part blog series, “How Vertical IQ Supports the Sales Process,” we discussed ways to use economic and Industry Intelligence during the first stage of the sales process: determining which industries to call on.
Of course, knowing which industries to pursue is only the beginning. Step two of the sales process requires you to get in front of the “right” people within those industries. Whether on a one-on-one prospecting call or at an industry event, you want to feel confident while differentiating yourself from your competition.
Vertical IQ can help you do both.
Make networking events work for you
Community and industry networking events are a great way to meet the “right” people in the industries you’re targeting (as discussed in Step 1), and you can find the key industry associations in the Weblinks of each Industry Profile. The challenge? Everyone is there hoping to make new business connections … just like you. So how do you stand out in that crowd? The answer is sales preparation using the economic and Industry Intelligence found on Vertical IQ.
Bring useful insights with you
Don’t show up to a meeting or event with only business cards (like all the other sales professionals will be doing). Instead, come prepared with something of real value to business owners: a “golden nugget” of industry or local economic data. For example:
- At a manufacturing trade show, bring up how national wage pressures impact businesses in that sector, information that can be found in the Manufacturing Sector Profile.
- At a Chamber of Commerce breakfast, mention that your county’s job growth has outpaced the state average for three years — a fact that would be of interest to nearly any big company or small business owner. You’ll find this type of market data in the Local Economies section of Vertical IQ.
These aren’t product pitches or generic questions like, “How’s business?” Instead, they’re engaging conversation starters and signal to business owners that you are different: a business advisor who understands their industry’s unique challenges and opportunities.
Speak their industry language
Every industry has its own jargon. When you use the right terminology, it builds instant credibility with a business owner. One of my colleagues shared the story of a banker who switched from saying “3D printing” to “additive manufacturing” when meeting with advanced manufacturers. That small change showed he’d done his homework, and it shifted the conversation from surface-level to strategic.
Vertical IQ’s Industry Terms chapter, found within each Industry Profile, is perfect for getting attuned to such lingo. And when you have the vocabulary you need to speak their language, business owners will treat you like a business insider.
Bring value to the table with every business interaction
Whether you’re meeting new business prospects or interacting with existing clients, one of the most important things you can do to set yourself apart from the competition is to provide something of value during the interaction.
For example, don’t just exchange business cards when you meet a new business prospect. Give them something useful as a takeaway, such as a printed Industry Snapshot or Local Economies report from Vertical IQ. It’s a simple task for you, but from a business owner’s standpoint, it immediately positions you as a valuable resource to them and their company.
Or when checking in with an existing client, print and share a “golden nugget” from the Current Conditions, Industry Trends, or Industry News section of the Industry Profile . Highlight some key points and ask the business owner how these issues impact their business. It’s a great way to get them talking, uncover problems, and offer business solutions.
Think about it: While other people are making small talk, you provide timely, relevant industry data that business owners can use to run their company. Now, that’s memorable!
A cohesive sales process
Using the economic and Industry Intelligence on Vertical IQ makes for a smoother sales process. When you proactively select industries based on quantifiable data (as we covered in Step 1), you can prioritize which networking events to attend and which business owner conversations to seek out (Step 2). Next, attend events or prospect sales calls with tailored industry insights, industry vocabulary, and value-add materials to position yourself as a valuable business advisor who truly understands the business owner’s world.
That’s the difference between being the banker handing out cards and being the banker people actually call when they need financing, treasury solutions, or business growth advice. And by using Vertical IQ in your sales process, you’re not just filling your pipeline. You’re laying the foundation for trusted advisor relationships that stand the test of time.
Stay tuned for more!
In the next posts of this six-part series, we will dig into ways to deepen client relationships through better sales call preparation, as well as assessing the viability of an opportunity. Until then, remember: Standing out in a crowd doesn’t start with a product sales pitch. It begins with meeting the right people, speaking their language, and bringing value to the table. And that’s precisely what Vertical IQ can help you do!
Ready to get started? Contact us to learn more!
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