"We know our market". You often hear these statements from sales decision-makers. But how realistic is this and do sales managers really have a good overview of their target groups? Unlikely, considering that a true knowledge of one's own market requires complete and up-to-date data, which one usually looks for in vain in many companies.
A glance at the CRM systems of many companies quickly reveals the following: Reality and the ideal state are far apart. The data entered is usually not a reflection of the market, but consists mainly of business contacts and interested parties from previous years, which also often result from trade fair and event visits. The data base thus represents an existing customer structure, but not the much more relevant target market structure of the companies.
According to research by BRCG, CRM systems of companies operating in the B2B sector are missing an average of between 20% and 40% of the relevant market participants. The market potential can therefore not be adequately determined and evaluated. As a result, marketing as well as sales measures refer only to a very limited target group spectrum. The consequence: Limitation of success - not due to the wrong CRM system, but due to existing "data gaps"!
Anyone who pursues the goal of strategically addressing markets must question current CRM practices. Successes thus tend to result from chance hits - systematic growth cannot be expected with the existing approach. In order to meet future growth requirements, a structured data-supported sales process is of central importance here.
Based on many years of experience and a large number of projects, BRCG has developed a special service package for its customers, through which the aforementioned "data gap" can be uncovered, closed and the benefit of their own CRM tool can be significantly increased without system adaptation. It contains seven individual modules that can be used independently of each other:
- Definition of target market and target customer:
Written criteria definition for the type of customer sought.
Checking the criteria coverage in CRM
Checking the data situation in CRM
- Data-Gap-Index: What percentage of the market do we cover in our system?
- Data-Structure-Index: What are the main problems with our CRM database? What are the five most critical areas from an improvement perspective?
Generation of additional data to fill structural gaps
- BRCG establishes the data structure for the relevant market using web analytics procedures.
- "Who is there?" (Relevant market I)
Qualification of the potential of the new contacts based on the customer and sales requirements
- "Who suits us?" (Relevant Market II)
Potential data is matched with inventory data from the customer systems
Building a market database
- Relevant market in the customer's CRM system
How high is the coverage of the market in your CRM system? How big is your "data structure index" from the point of view of the overall coverage of your data? What are the biggest problems and most critical fields in your CRM database? Are the target customer criteria mapped in your system and can you filter the ideal customers from the market potential at the push of a button? With which measures do you achieve the greatest improvement?
We look forward to the dialog with you and are always happy to assist with questions and concerns!
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Dr. Bergmann · Dr. Rohde & Consulting Group GmbH
Dr. Holger Bergmann