» WHEN MOST PEOPLE think of Insight Data , they probably think of marketing data ; after all , Insight provides the industry with in-depth information on 15,000 fabricators and installers , as well as tens of thousands of decisionmakers across the construction industry .

So business leaders are often surprised when , as a consultant and marketeer , I don ’ t always advocate ‘ foot on the gas ’ organic growth .

For some companies , such as those dealing with a surge in business , supply chain issues or skills shortages , there can be alternative strategies .

Through Insight Data , I ’ ve mapped out six different strategies that a company can deploy to add value and profitability . Some companies focus on one , others implement two or three of them . So , what are they ? 1 . Organic Growth 2 . Diversification 3 . Cost Reduction 4 . Consolidation 5 . Business Improvement 6 . Industry Insight

ORGANIC GROWTH

Driving organic growth is usually the first reason companies sign up to Insight Data . It enables them to pinpoint their exact target customers using in-depth information . So if your business supplies fabricators , installers or trade counters for example , it means you can filter data by preferred profile system , product range and volumes , or even credit rating , and find named decisionmakers and their contact details .

DIVERSIFICATION

Having all your eggs in one basket can be risky . Bringing new products to market , or promoting existing products to wider audiences such as builders merchants , architects or housebuilders can spread the risk and create lucrative new revenue streams – and it ’ s all on the Insight database .

COST REDUCTION

Companies can waste tens of thousands of pounds on sales and marketing costs . The market intelligence within Salestracker , Insight Data ’ s online platform , means companies don ’ t waste time or money on blanket marketing . It provides the tools and data to instantly access your ideal customers , so you need less sales and marketing resources to achieve the same results .

CONSOLIDATION Some companies talk about consolidation , but this shouldn ’ t mean standing still . Taking six months or a year to consolidate should mean putting in place the processes to fuel future growth . One of your key priorities should

be restructuring your customer base , replacing high-maintenance , low-margin or credit-risk customers with quality clients that are easier to manage , pay their bills and improve your margins . This will transform your business , and all the information you need to do it is on the Insight database .

BUSINESS IMPROVEMENT

Having the right tools to manage your business , teams and customers is the secret to a scalable business . So , it ’ s no surprise that 700 industry suppliers already rely on Insight Data ’ s Salestracker - the cloud-based , remote-working database and CRM platform designed for B2B suppliers in the industry . It enables companies to centralise customer and prospect information , documents , tasks , leads and customer service . It also provides transparent reporting , so management can see what their teams are doing .

BUSINESS INTELLIGENCE Using business intelligence helps business leaders make more strategic , informed decisions about products , markets and competitors . The in-depth information within the Insight database helps companies large and small understand all of this , so they can identify new opportunities or acquisition targets . What ’ s more , a credit monitoring facility enables companies to track the credit status of customers and competitors and get notifications of any changes .

PLANNING FOR 2021

For most suppliers in the industry , the tempo is upbeat with a positive outlook and plenty of opportunities ahead . Whatever your business objectives in 2021 , using Insight Data ’ s ‘ Business Success Model ’ will help you achieve your goals .

www . insightdata . co . uk