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February 21, 2012

InsightPRM Helping Turn Leads into Business Deals

By Carrie Schmelkin, TMCnet Web Editor

If you are a telephone equipment dealer, wouldn’t it be great if you had a list of businesses that were about to relocate and need new phone systems so that you could reach them to tell them about your services before they consulted the Yellow Pages?

Well thanks to InsightPRM, a product that provides commercial office relocation and expansion sales leads, now you can.

“After I got out of college, I started in the commercial relocation business, moving offices,” Larry Dillon, CEO of Wendover, told TMCnet at ITEXPO (News - Alert) East 2012. “I developed a forecasting model to help predict when companies were relocating because I wanted to get upstream before they went to the yellow pages and we killed it. We had more information than anyone else.”

And a few years later, Dillon created InsightPRM, a product that has helped some of the biggest international companies by providing everything from sales data to lead nurturing.

InsightPRM is a lead generation product focused on researching businesses that are relocating or expanding. Everyone from moving companies to furniture dealers to telecom companies to office equipment companies can benefit from InsightPRM, as they are given a list of companies that are promised to be relocating soon and will be looking for new technological purchases.

According to Dillon, InsightPRM takes into account a critical problem in that clients often miss out of millions of dollars of opportunity because they get lost in their sales automation tool. InsightPRM serves as  the world’s first ever prospect relationship management software that is designed to be simpler, faster and better at managing prospects.

“The reaction to the little PRM that we built blew my mind,” Dillon said. “Companies started immediately seeing results. It was faster, easier, and simpler; it’s designed specifically to make sure you never lose a million dollar opportunity.”

One of the chief differentiators of the PRM is that as opposed to a traditional CRM tool that has three silos for data – leads, contact and accounts – the PRM has a fourth silo that is often forgotten about, suspects. For example, when a company returns home from a trade show, the names of companies that they collect by scanning badges are not actually leads (even though many people refer to them as such). They are actually suspects.

If you are a phone company for example, your suspects will come in the form of a list of companies that are about to relocate and will be in need of new phone systems. Thanks to InsightPRM, companies can find the names of businesses about to relocate and use the PRM tool to distinguish leads from suspects, or those they can actually do business with.

“We are delivering the names of companies who are going to buy phones and network equipment before they select a vendor,” Dillon said. “We deliver you the name of companies that are moving, 90 percent of which will make a major purchase with technology.”

While at ITEXPO last week in Miami, Fla. – the world’s largest communications conference – Dillon was looking forward to spreading the word about InsightPRM and how the product distinguishes itself in the marketplace.

“We have been doing the same thing for 20 years, but we put a new skin on it by digging deeper into our customers and realizing they didn’t have the technology they needed to execute on leads,” Dillon said. “We think we have, after 23 years, something really new and exciting to show people.”

“We believe we have a major piece of technology that is going to help them with the age-old dilemma of managing prospects,” he added.

When Dillon does a business survey every year, he asks companies to rate the quality of their service, their performance during the sales process and their ability to nurture leads, among other things. Interestingly enough, while companies rate the quality of their service at around 92 percent and their sales process effectiveness at 80 percent, when it comes to the company’s ability to nurture leads, the average score this year was 59 percent.

“The only failing grade,” Dillon said. “… Everyone admits that they suck.”

So how will InsightPRM keep helping companies do better on their tests in the coming years? By Dillon spreading the word about its benefits.

“I am excited; I am jumping out of my shoes,” Dillon said of how successful his company has been. “I thought it’d be cool, I thought they would think this is really good but I am delivering twice as much data.”

Carrie Schmelkin is a Web Editor for TMCnet. Previously, she worked as Assistant Editor at the New Canaan Advertiser, a 102-year-old weekly newspaper, covering news and enhancing the publication's social media initiatives. Carrie holds a bachelor's degree in journalism and a bachelor's degree in English from the S.I. Newhouse School of Public Communications at Syracuse University. To read more of her articles, please visit her columnist page.

Edited by Carrie Schmelkin
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