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12 Ways to Use Industry Research to Win More in 2020

Posted January 07, 2020 by Bobby Martin

The new year is a good time to start new, better habits, from improving our diets to exercising more. But it is also a great time to turn over a new leaf at work, setting more ambitious sales or client management goals. And Vertical IQ can help. 

Boost your success in 2020 

With more than 500 Industries, as well as Local Economy reports on over 300 cities, we offer in-depth industry- and region-specific content that can help you win more, as well as enhance relationships with your clients. 

Here are 12 ways that you can use Vertical IQ’s Industry Intelligence and economic data to win more business in 2020. 

  1. Gain a better understanding of your client or prospect’s industry before a call: Preparation is key to a successful call. Taking just 5 minutes to review the Industry Profile or Call Prep Sheet prior to your meeting can arm you with useful industry-specific questions and talking points.
  2. Give clients a printout of the Industry Profile for their industry: Sharing this type of in-depth industry information not only helps educate your client about the risks, trends, and stats on their industry, it shows them that you are a value-added partner in the relationship.
  3. Increase risk mitigation from a credit underwriting perspective: By understanding the challenges that are typical of an industry, you can better assess a client or prospect’s credit-worthiness.
  4. Enhance your client presentations: By creating customized decks that include industry and client-specific data, you will show your client that you have a unique understanding of the issues that impact them and their business.
  5. Teach small business owners about financial statistics in their industry: You can use the industry and local economy data on Vertical IQ to help small to medium-sized business (SMB) owners get a big-picture understanding of the financial workings that are influencing their business. 
  6. Offer financial comparisons to small business owners: It is always helpful to SMB owners to know how others in their industry are doing from a financial perspective so they can see how they stack up to the competition.
  7. Assess competitive best practices to help your client’s business: Along this same vein, SMB owners want to know what their competitors are doing right so they can learn from their successes and emulate their tactics.
  8. Provide clients and prospects Industry Intelligence on the industries they sell to: Just as it is helpful for you to understand your clients’ industries, it is beneficial for your clients to have a better understanding of the industries that they are calling on.
  9. Use Industry Intelligence to discover new niche markets to sell to: There are a lot of generalists out there, so when you choose one or two niches and become an expert on them, you will quickly make a name for yourself with businesses in those sectors.
  10. Help your clients find new markets to expand into: Are there new verticals or locations that your client would be well-suited to reach? The industry and local economy information on Vertical IQ can help inform their expansion strategy.
  11. Enhance email communications by incorporating industry trends: We all get waaaay too many emails, most of which add little to no value. But by including information on trends that are occurring within your client’s industry, you turn it into a useful communication that is worth their time.
  12. Improve marketing content such as whitepapers, ebooks, and blogs: Generic marketing is so last-decade. Today’s clients want an experience that is tailored to them and their business. Creating customized marketing content, which includes the latest information about your clients’ or prospects’ specific industries, will create a “wow” experience they will remember. 

Ready to rock n’ roll in 2020?

These 12 tips are just a sampling of the ways to use Vertical IQ to rock it in 2020. Be sure to add your comments for other ways you’ve used Industry Intelligence to win more. If you’d like to see samples of any of the data described in this post, please contact Vertical IQ, and we’ll be happy to help you. 

>> Start sharing valuable industry information with your SMB clients and prospects. Visit https://verticaliq.com/ to get started for free today!

 

Tags: banking, Industry research, small business owner, business banking, business owner, advisor, small to medium sized business, relationship manager

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