With computer-aided business intelligence, you can keep an eye on what’s happening with your competitors. For example, when someone goes bankrupt, has a quality problem, or a key person leaves their client, it might be time to introduce yourself and try to take over that client. Prepare your company by building a competitor database so you can easily keep track of who your competitors’ customers are and automatically tells you when it might be time to act.
Most of this can be automated, something we at Bosbec specialize in. It doesn’t have to be difficult or expensive, but it goes without saying that it’s a sensible investment. Here are a few things to consider.
Tips:
1. Make sure that the data from your competitors can, as much as possible, be retrieved automatically. Manual processing takes both time and effort.
2. Determine alerts (or modes of action) for when competitors’ customers should be processed in this way. For example, the departure of a key account manager or some other major change at your competitor’s customer. This might be the moment to contact that customer.
3. Make sure your solution is easy to change and that it is easy to create new alerts or add to new data sources.
4. Automate the flow and make sure that your sales staff is automatically alerted when your competitor’s customer should be contacted.
- Chapter 1: A whole new ball game for sales and marketing reps
- Chapter 2: How do you get new customers?
- Chapter 3: Increase your customer base through three simple steps
- Chapter 4: 50% of your prospects might be useless!
- Chapter 5: Are you prepared to risk a hefty fine for being sloppy with GDPR?
- Chapter 6: Out-compete the competition
- Chapter 7: Digitalize right, not wrong
- Chapter 8: Make sustainability a part of your sale
- Chapter 9: How to build a prospect list despite restrictions
Does automation sound expensive? It doesn’t have to be. Bosbec works with so-called low-code and customizable modular solutions. Check it out for yourself.