Why Building Intelligence is Necessary to Compete in Modern Networking Environments
The Network Sales ProcessThe network sales process moves quickly. When prospective clients, whether organizations, building owners, or commercial real estate firms, reach out to network sales teams, they are looking for a fast response to get connectivity built into their location within a reasonable time frame.
No business can run without internet, so being able to promise high-speed connectivity is integral to selling the space. At this point, network sales teams consult their building lists to determine if the location is near-net or off-net, and what it will take to provide connectivity to that building.
Having this building list information readily available makes it easy for sales teams to respond to RFPs quickly on what their capabilities are, and how long it will take to terminate into the building. However, this does not necessarily provide sales teams with the necessary information to know how much value that location will ultimately provide to them.
There is a high barrier to entry for telecom companies terminating into new buildings, with costs potentially running from $30,000-$40,000. With such a high upfront investment, network providers need to not only know if they can terminate into the building, but if it will be worth it.
The Importance of Building Intelligence: Building intelligence gives network sales teams full visibility into the “who” of the sales process. This information shows sales teams exactly which organizations are operating from a location, allowing them to tailor offerings to meet specific needs.
It also gives visibility into any other network providers that are terminated into that building. This allows sales teams to make informed decisions around their offerings, price point, and overall value of the location. Providers can then allocate sales and marketing resources accordingly.
It has historically been difficult to gather this information in an accurate and time effective way. Traditionally, building intelligence purchased by network sales teams has been largely firmographic, and therefore inaccurate. Rather than providing information on the tenants and competitors in a specific building or location, purchased data sets give a broader overview of organizations at large based on various filings, which are often incorrect or irrelevant to network provider’s needs.
To rectify this, network marketing and sales teams have been tasked with performing hours of manual research to determine this information. This presents and inefficient use of resources, especially should it ultimately be discovered that the building does not present value.
Using Building Intelligence to Maximize ROITo ensure that network operators are able to capitalize on the opportunity digital transformation presents and achieve maximize return on investment, they must enhance the speed and accuracy with which they gather building intelligence.
The Building Intelligence module from Connected2Fiber does just that. Building Intelligence provides in-depth information on the demand and competition in specific locations. This research is readily available, allowing sales and marketing teams to make a fast, informed decision and allocate resources accordingly. For example, if there are several providers terminated into a building, they may choose not to provide service. Conversely, if there is only one provider in a building, they can alter their prices to be more competitive.
With the location and market perspective provided through building intelligence, network providers are able to tailor services to prospective customers, while ensuring they are receiving equal value from the transaction.
Learn how Connected2Fiber can improve selling time with enhanced building intelligence.