Being presented with access to new data presents any organisation with a fantastic opportunity to segment and analyse customer information.
That’s exactly what the result of a merger or an acquisition can provide your business. As highlighted in our previous blog, utilising customer records to up-sell and cross-sell is a much more efficient way to improve your L2C process than sourcing new cold customers.
A complex transformation such as a merger or an acquisition can often lead to a tumultuous period of transition for the organisations involved. It takes time to re-shuffle teams, incorporate systems and re-align strategy to fit with the new business objectives.
Usually one of the first issues is to focus on embedding the new culture as quickly and as seamlessly as physically possible. However, your sales team should be wanting to get their hands dirty with the new data the moment that the information is integrated and at their disposal. Structured in the right way, sales teams will instantly have new opportunities to explore, why wait?
Many businesses’ overlook this significant opportunity to instantly add value following such a deal. After all, surely one of the catalysts of the merger or acquisition was to grow?
Don’t lose focus and make a quick start on trying to identify those who you could potentially target for up-selling or cross-selling opportunities. Using this new information available is a far more efficient and effective approach as opposed to trying to convert cold leads.
Although research indicates that merger and acquisition processes can often stagnate growth in the interim, adoption of agile methodology will give you the platform to focus your activities during a period of such change.
But what are the benefits of a merger or acquisition?
- Expanding your knowledge of the buying habits within a particular sector
- Growing a more in-depth picture of your company’s landscape via new data
- Using the expertise of recently acquired sales staff across the organisation
- Create a clear vision despite the transition. Focus on your customers & not internally
- Recognising that resources spent on your existing customers is far more effective
Define and consolidate the structure of the data from all parties connected to the merger or acquisition. It is crucial the information collated is both valid and accurate before a firm strategy is planned. This includes prioritising key accounts, products or areas which would present the biggest opportunities.
If you wish to know more or want to talk to an expert then please contact us