Is Data on the Trucking Industry Really Worth the Investment?
You see this question a lot. Usually termed something like “Is big data really worth the investment?” However, since you’re selling equipment to the trucking industry, it should probably be termed like this:
“Is data on the trucking industry really worth the investment?”
The short answer is yes. To drive revenue for your business, you need to incorporate data into your sales and marketing processes. It is an extra expense, but having data can help you refine your sales process and increase sales exponentially.
Big data can do more than just improve your marketing.
The capabilities that data provide go beyond marketing. Your sales team can also benefit from having trucking industry data at their fingertips.
Regardless of whether you are an OEM, aftermarket manufacturer, or dealership, your sales guys need to have an accurate picture of their territories and customers. Sometimes they may even need to know more than the information marketing is providing to further qualify their leads. This is where data can immediately help your sales team.
A marketing qualified lead (MQL) is a great place for your sales team to start. Usually this gives them the bare information needed to establish who they are, how to get in touch with them, and their initial interest.
But what if your sales reps were equipped with actionable, intelligent data?
For instance, let’s say one of your sales reps is handed a MQL. He only knows the name, phone number, and email and that they converted from a form on a blog post about maintenance. This isn’t much to go on, and he spends the next month or two establishing a relationship and trying to figure out where your company can assist this lead.
If he were equipped with actionable, intelligent data, your sales rep could know much more. Not only would he know the information provided by the marketing team, but he now knows . . .
- the types of trucks a customer uses.
- how old their trucks are.
- whether they buy new or used trucks.
- the routes their trucks commonly run.
Now your sales rep has a much more accurate picture of who the lead is, what they need, and any unique opportunities that the MQL information may not have provided. This allows sales to make much more informed proposals that are more likely to meet the needs of clients.
Data provides your sales team with insights into a customer’s unique needs.
Data is an extra expense in your budget, but that doesn’t mean you should be deterred. Actually, you should be ecstatic. While you may be spending a small amount of your budget on a data product, you are expanding the capabilities of your sales team to increase your revenue.