Starting a Business on a BudgetStarting a Business on a Budget


About Me

Starting a Business on a Budget

From the time I was a young boy, I always knew I wanted to be my own business owner. Later in life, I ended up working in an office and barely making ends meet. I kept telling myself that I couldn't start my own business until I saved up a certain amount of money or finally cleaned up my credit and got approved for a loan. Eventually, I realized that if I wanted to start a business, I just could not wait any longer and had to do it on a tight budget. I made things work, and I am now a successful business owner. I learned a lot while building my business and still learn every day, so I decided to start a blog to help other new business owners. I plan to post many tips, so come back often for new tips.

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Four Important Aspects Of A Good Sales Intelligence Solution For Small Business Owners

Sales intelligence software and companies are intended to help form effective strategies for marketing and business. If you have the need to generate more revenue from your small business or reach your sales goals, it may be time to utilize sales intelligence tools. Find a multifaceted program to meet your needs, whether it be channel distribution, social media sales or competitor information.

Make It Work for You

For all-inclusive service, you may prefer to use an established sales intelligence company. Perhaps you'd find a software package more suitable. Either way, what should you look for in a good sales intelligence program? Here are four important aspects of a high quality package or service:

1. Effective Channel Distribution Methods

Not all sales intelligence solutions are alike, nor are they all designed for one type of business. Because every business is unique, your needs may differ from that of others. Channel distribution helps locate potential clients targeted for your specific business.

A strong sales intelligence system will help you utilize one or more distribution channels for selling your product. This may include retail, wholesale, Internet and catalog sales. Other channels may include private dealers or manufacturers.

Perhaps you sell to a company that resells your products by offering a bundled package. If this does not generate the revenue you're hoping to achieve, adding another channel of distribution may work for you, such as selling your product directly to a Fortune 100 company. These solutions will be outlined in your sales intelligence tools.

The channel distribution tools will also initiate strategies for ordering supplies and merchandise. Tips on shipping and handling may be included, as well as proper storage and display techniques. Promotional strategies will be an integral part of channel distribution as well.

2. Social Media Interaction and Analytics

Your sales intelligence program should include some form of social media interaction or marketing strategy. If you're not into the social media scene yourself, find a quality sales intelligence package that uses this approach. This may help generate the revenue you're currently lacking.

Why do you need social media interaction? Quite simply, this world of modern technology demands it.  Many buyers and potential clients utilize the social media and networking to find the products and information they require.

Other methods, such as email contact or automated answering services, don't often provide immediate results. With social media tools, you're able to provide an immediate response that brings forth results and satisfaction. This may also include instant messaging and chats with live representatives.

3. Competitive Intelligence

Do you know what your competitors are offering and what marketing strategies they utilize? Your sales intelligence program should provide competitor information. This may help you beat the competition at their own game.

The program should track the competitor's activities, new products and events. In addition, you should receive financial data and customer leads. Better yet, it should include the competitor's customers' contact information.

4. Customer Satisfaction Surveys

You need to know how your clients react to customer service as well as product quality and sales. This can pinpoint areas that need improvement as well as indicate what you're doing right. A good sales intelligence program will include surveys taken from various demographic areas. The customer satisfaction surveys should cover all aspects of the business.

You may read about customer complaints and problems experienced. The surveys may also include success stories from satisfied customers. Important questions should be answered as well:

Will the customer be likely to use your service or buy your product again? Will the customer recommend your product or service to others? This helps you maintain your high standards in business.

In conclusion, don't settle for a one-dimensional sales intelligence package. For the best success, insist on a multilayered, highly functional package that covers all aspects of sales and marketing. Check out a company like Rain King to see the selection of sales intelligence packages they offer.