Growing your bottom line revenue is the ultimate goal for any business. But it can be a major challenge, especially when you don’t know the best ways to go about it. Even worse is when the techniques you use fail to yield the desired results.
There are a lot of different ways to find prospects and customers. You may be using full-scale digital and content marketing to grow your business. Then again, traditional sales prospecting may be your method of choice.
Regardless of how you’re finding new customers, you have to find ways to be more efficient. If you can get new customers for less money and time, you’re well on your way to growing your business.
The key is to finding the new tools to improve your process. Finding these tools, however, can be problematic.
To help identify your needs, here’s a quick multiple-choice question for you:
Where are you in the process of finding new customers?
- Just beginning.
- Searching and successfully finding.
- Searching and hitting a wall.
- Or maybe you’re at a standstill, acknowledging your limitations.
Regardless of which answer you chose, EDA provides the data you need to more effectively and efficiently find the most qualified prospects. Let’s talk a little more about how you can benefit from the power of EDA data.
How can EDA help grow your business?
The EDA database has prospects listed in a way that make them easy to find. Being made up of industry purchasing information, including 20 million+ equipment records, you have access to a large number of potential customers.
Here are 3 ways to use EDA to find your audience.
1. Search Criteria
One of the simplest ways to find prospects in the EDA database is to search by category.
You can search by a number of criteria, including brand, equipment, and location. This will help you narrow down your search to very specific prospects who are most likely to purchase the equipment you sell.
For instance, if you’re selling front end loaders in Topeka, KS, you can narrow down prospect searches to contractors within your AOR who have purchased front end loaders in the past 5 years. This narrows down the prospect list to the contractors who are most likely to need your equipment.
2. Parts & Service
For many dealerships, parts and service are a highly profitable area of your business. The service provided is low margin and big ticket. It also represents one of the best opportunities to grow your bottom line revenue.
With EDA, you can find prospects based on the make and model of the equipment they have in service. This will allow you to find prospects based on commonly needed parts and service to the equipment they have in active service.
This allows you to create customized parts and service offers to prospects who need it.
3. Finance Terms
EDA data is appended from UCC-1 filings, a legal form detailing a piece of equipment has been financed. This provides subscribers with unique information about contractors across the United States.
With EDA, you can discover when contractors purchased and financed equipment. This will give you the opportunity to identify when warranties expire and to establish buying cycles for equipment purchases among key prospects.
Having access to EDA’s database, you’ll have all the information you need to grow your audience. And knowing how to use the tools EDA offers will put you ahead of your competition by leaps and bounds.