Company credit reports are an incredibly useful tool as it helps you identify companies that would be a high-risk involvement before you step into a business arrangement with them. It can, however, be taken even a step further in assisting your business. Company credit reports can be used to assist you in doing pertinent research on potential clients and thus helps you put together a strong lead list based on such data as customer potential, risks, company structure and tie ups with other companies. Let’s take a look at how you can use company credit reports in your marketing. We hope you find this information useful.
Only Pursue Clients with Potential
With the ability to pull credit on potential clients, you are able to target only those clients that have a potential to use and pay for your services. This will help you save time by not having to weed through all those customers who will not bite in the long run. It also helps you save money by decreasing the potential of getting involved with a customer who will not be able to pay its bills. Using company credit reports in marketing gives you the ability to do more in less time, allowing you to really maximize your business’s potential and manage risks. It brings vital information to the table to take your marketing to the next level.
Create a Targeted Campaign
Every marketing campaign needs a good target audience. The use of credit reporting will achieve this for you. Not only will company credit reporting allow you to better seek out clients with the fullest potential, it will help you create targeted marketing campaigns based around the data pulled from credit reports. You will be able to look at their data to see who has the greatest likelihood to be interested in and have the ability to do business with you. You will be able to not only get more hits from your leads lists but you will be able to create more effective marketing campaigns with a higher rate of success. What is there to not like in that?
Stop Being a Salesman
If we are being honest with ourselves, we know that no one actually likes a salesman. Utilizing the data from credit reporting allows you to spend less time selling and more time building relationships. Which will result in longer lasting client accounts. If you target particular companies that will be more likely to purchase your product then you will not have to spend so much time trying to sell them on a product or service and you will be able to build a better, stronger and more profitable lead list.
Where to get Company Credit Reports
APART-DATA helps companies gain information on prospective clients and helps them manage risks through credit reporting. This information can have enormous implications in the area of marketing.
What to Look for When Pulling Credit Reports
Of course, all of this is theoretical if you do not know how to approach it. There are a number of considerations you will want to make as you look at the credit reports of potential clients that will help you maximize the potential of a marketing campaign and gain stronger, longer-lasting customer relationships. Items you will want to look for include but are not limited to the following:
- History of Bankruptcy: This is of course an important thing to know before you go into business with someone. Knowing the financial past of a company and whether or not there is a history of bankruptcy will help you know whether or not it is wise to get involved with a potential client. This will benefit you in the long run as you will not be finding yourself in risky relationships that will cost you time and money.
- Legal History: Another piece of pertinent information that you can get from credit reporting is legal history. A credit report will let you know a company’s past and whether they have had any legal or financial problems. Knowing whether or not you can trust a company will provide that your business and its financial well-being are protected.
- Can a Customer Pay Their Bills: If a company has a history of not making payments, a credit report will let you know this by means of appalled credit score. We know you have better things to do with your time then chasing down payments. You value your time and money and the use of credit reports will help you protect these things. If you want to maximize your budget and efficiency, knowing this information will be highly resourceful to you.
An Ounce of Prevention is Worth a Pound of Cure
It’s like the old saying goes, “an ounce of prevention is worth a pound of cure”. Putting preventative measures in now will help you avoid costly mistakes and headaches down the road. Utilizing credit reports in your marketing will help you avoid these kinds of unwanted problems by targeting the right customers in your marketing and not going with customers that will just cost you time and money in the long run. At the end of the day, it’s just smart business!
APART-DATA helps companies gain information on prospective clients and helps them manage risks through credit reporting. This information can have enormous implications in the area of marketing. If you have any further questions on using company credit reports in marketing, or if you would like to know about any of the other services we offer, please contact us. We hope to hear from you soon.