For years, most of you have only flirted with leveraging UCC data in your sales and marketing efforts. One could easily make the argument that the quality of your data, dramatically impacts your sales performance. Some interesting facts to note:
69% of finance companies are “dissatisfied” with the quality of their CRM and prospect data.
73% of finance companies do not leverage UCC data as a staple of their sales and marketing effort.
Basically, you are not happy with the fertility of the ground you are farming, but aren’t using fertilizer. Of course the UCC allows you to identify companies investing in capital equipment and senior secured lien transactions, the finance source, the timing, the location…even details on the assets secured themselves in some states. I know, duh. So why the haphazard usage of such great information?
The typical journey we see companies go through looks kinda like this:
If you’ve ever been in the washing machine above, the lack of consistency occurs because you are making this a sales function. It is really a Marketing function in our view. Do it like this:
- Marketing collects the data
- Marketing analyzes the data
- Marketing reports the key information and trends
- Marketing recommends a targeting strategy
- Marketing targets identified bands of prospects with company messaging, content and ideas
- Marketing leverages email marketing to identify highly probably leads for the sales team
- Sales books more appointments, easier and closes more deals.
- Sales & Marketing do it all again next quarter!
Sound fun? “But bald man, it’s expensive.” Well, buying UCC data is really not that expensive especially when knowing the closing of one deal from regular usage of it could pay for the data for 3 years. “But bald man, I don’t have the marketing resources to help.” Again, not that expensive even if not on your staff, you just need someone who knows the business. Also remind yourself that you are calling on people that you KNOW are financing with a certain competitor or financing a certain asset type. If you are farming in fertile ground…your salespeople spend less time chasing bad leads. That’s an increase in productivity and an easy cost justification factor as well.
Less noise and distraction for salespeople, more productivity on a consistent basis for you. Find a way to regularly incorporate UCC data into your sales and marketing effort and if you ever wanna chat about how to make it work, give us a holler.