Salesgenie and the Benefits of Lead Generation Technologies (Group 7: Chelsey Aisenbrey, Heather Perlman, & Matthew Vance )
Sales lead generation is a growing field where businesses purchase sales leads, therefore allowing their sales people to spend less time researching potential customers and more time building relationships. Salesgenie is a provider of sales leads, and the focus of this research paper. Through Salesgenie, organizations can ensure that the right message is being sent to the right people with the assistance of their business profiles, aerial maps, and target list builders. Salesgenie is a division of Infogroup, which is a data research and marketing company that operates a database containing business, lifestyle, and credit information on 15.5 million businesses and 210 million consumers. Salesgenie is part of the sales lead generation industry, which primarily operates on the Internet.
Competition is fierce in this industry, so a careful competitive analysis was conducted with Porter’s Five Forces model. In terms of competition, Salesgenie goes up against a handful of very similar firms. The barriers to entry are substantial for this field since it takes years to develop a proprietary database with enough information to sell. Substitute products are another challenge because businesses can generate their own sales lead lists through a variety of other sources such as internet searches, yellow pages, or customer referrals. Customers can influence the industry greatly with their ability to research other firms based on price, contract terms and data quality. Suppliers also play a significant role due to their distribution of the sales data. Salesgenie’s competitive advantage comes in the quality of the data that they provide to their subscribers. Their data’s reputation is backed by the fact that 85% of Fortune 100 Companies use their services.
Salesgenie has had to overcome some challenges with their innovative technology. The major challenge is keeping their data accurate. With millions of records, it is an ongoing challenge to keep all of the information up-to-date. However, customers expect accurate information when they purchase data. Another challenge has been their website, which limits the numbers of downloads a customer can do at one time. Ethically, Salesgenie needs to consider the accountability questions that can be raised from their product and install an accountability feature which can monitor actions being taken by customers. Socially, individuals are still concerned with having their personal information sold to businesses. In order to gain trust, Salesgenie needs to make it clear that they gather their information from public sources and that no purchases are being done by them to receive the data. Legally, Salesgenie needs to ensure that they are honoring the Do Not Call Registry. Salesgenie is a great tool for companies looking to expand their business to the United States and Canada. However, from a global prospective they are very limited in the amount of data they have available. In order to expand the business globally, Salesgenie needs to expand their database to include developing countries all over the world.
Ultimately, Salesgenie offers organizations a way to spend more time selling and less time prospecting. If the subscriber utilizes this information properly and follows up with leads, they will increase their revenue and likely continue to subscribe to a sales lead generation company such as Salesgenie.
University Of Wisconsin - Whitewater
Competition is fierce in this industry, so a careful competitive analysis was conducted with Porter’s Five Forces model. In terms of competition, Salesgenie goes up against a handful of very similar firms. The barriers to entry are substantial for this field since it takes years to develop a proprietary database with enough information to sell. Substitute products are another challenge because businesses can generate their own sales lead lists through a variety of other sources such as internet searches, yellow pages, or customer referrals. Customers can influence the industry greatly with their ability to research other firms based on price, contract terms and data quality. Suppliers also play a significant role due to their distribution of the sales data. Salesgenie’s competitive advantage comes in the quality of the data that they provide to their subscribers. Their data’s reputation is backed by the fact that 85% of Fortune 100 Companies use their services.
Salesgenie has had to overcome some challenges with their innovative technology. The major challenge is keeping their data accurate. With millions of records, it is an ongoing challenge to keep all of the information up-to-date. However, customers expect accurate information when they purchase data. Another challenge has been their website, which limits the numbers of downloads a customer can do at one time. Ethically, Salesgenie needs to consider the accountability questions that can be raised from their product and install an accountability feature which can monitor actions being taken by customers. Socially, individuals are still concerned with having their personal information sold to businesses. In order to gain trust, Salesgenie needs to make it clear that they gather their information from public sources and that no purchases are being done by them to receive the data. Legally, Salesgenie needs to ensure that they are honoring the Do Not Call Registry. Salesgenie is a great tool for companies looking to expand their business to the United States and Canada. However, from a global prospective they are very limited in the amount of data they have available. In order to expand the business globally, Salesgenie needs to expand their database to include developing countries all over the world.
Ultimately, Salesgenie offers organizations a way to spend more time selling and less time prospecting. If the subscriber utilizes this information properly and follows up with leads, they will increase their revenue and likely continue to subscribe to a sales lead generation company such as Salesgenie.
University Of Wisconsin - Whitewater
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