Grow sales with foresight tools

Growing a business almost always means growing sales. M&A’s may be an exception, although even then the increased volume must be actively managed onto a growth path for the acquired market share to hold. Salesforce states, that in 2024 sales teams were most challenged by changing customer needs and expectations. Even competitors and competitive dynamics were not seen as equally significant challenges to sales.

A prerequisite for future success is understanding customer needs, both current and future. Customer foresight helps organisations commercialise offerings that continue to create customer value in the future. Even the best product or service does not sell itself.

Foresight in account management and sales

With active sales foresight, organisations nurture existing customer relationships and identify new, emerging customer segments.

Typically, account management processes are described from the organisation’s perspective:

• How often are we in contact with the customer?
• Who is responsible for the account?
• Minkälaiset tavoitteet  olemme asettaneet asiakkuudelle?

Sales foresight introduces an outside-in perspective and applies foresight methods:

• What does our customer’s operating environment look like, and what changes can be expected?
• How will our customer’s customers’ needs evolve in the future?
• In which alternative directions could our customer’s business develop over time?

In new customer acquisition, foresight helps identify prospects:

• Who are our potential new customers a few years from now?
• How is the operating environment changing, and what new customer segments could we serve?
• Which industries are growing, and could they offer new customers to be served?

Sales foresight does not make account management processes redundant; rather, it complements them.

The benefits of sales foresight

An Industrial Marketing Management (2024) article identifies three areas in which combining account management and foresight drives sales growth.

1. Commercial success

With foresight, organisations can identify growth opportunities in both existing and new customer segments.

2. Customer experience

Foresight methods provide tools for customer foresight. By identifying emerging customer needs, companies ensure they remain relevant to their customers in the future.

3. Innovation

Trend monitoring, weak signals and scenarios increase the organisation’s innovation capability.