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Turning lead into gold

2021-06-02 by Philipp Block (LinkedIn | Twitter)

Lead - in sales marketing it is generally clear what is meant by this - a potential valuable customer. But lead is also the word for the element. Natural Language Processing solutions can help to ensure that leads do not literally lie on the shelves like lead.

Leads are a valuable asset, no question. And there are many strategies, solutions and actions that can be pursued and implemented as a company for this purpose. Keywords: lead generation, qualification, management and so on. With digitalisation, these possibilities have multiplied exponentially - which has advantages and disadvantages. More possibilities also mean more information gained. Sometimes too much of it, which is ultimately not used effectively or only to a certain extent. Simply because of the sheer amount of information generated.

Make something out of it!

Information only turns into valuable insights for successful sales activities if it is also processed. The fact is that many companies have access to such information, that they possess extensive domain knowledge. However, it is difficult to use this with traditional and learned methods - it is simply too time-consuming. Just look at your own sales database - how big is it? How much information does it contain? Is this information valid? And up-to-date?

Turning this sales database into a helpful tool for sales requires many employees who have to spend a lot of valuable time on it. Or you can increase the output by using Natural Language Processing to enable your employees to analyse, evaluate and make use of this large amount of information in the shortest possible time.

Enrich your Leads!

NLP, Natural Language Processing, can process extremely large amounts of data very quickly - for example, your sales database. Information from different data pipelines is classified and qualified - automatically. Are the addresses and contact persons still up-to-date? Are companies (still) active at all? Have there been mergers and acquisitions? What sales potential do the companies have? For which products or services? When are the ideal times to approach customers? And with which advantageous arguments?

Turn lead into gold!

Or put another way: transform existing unstructured data into structured knowledge and enrich it intelligently. The good thing about this is that NLP solutions can be individually adapted and scaled - to specific challenges, to specific targets, to almost any size of project and also to time constraints.

You have the domain knowledge, AI solutions refine and complement it and thus provide your sales department with valuable advantages: optimised knowledge. And as the saying goes: knowledge is power. In this case, knowledge about the philosopher’s stone - NLP refines leads, Natural Language Processing turns leaden data into golden knowledge.