A national B2B retailer is partnering with BlueTarp for its customized credit management. In addition to improving its order-to-cash process, BlueTarp is helping the retailer accelerate their selling process, starting before a purchase or payment has even been made.
Prescreening credit models that identify high-potential leads
After only three months, they found that the newly scored and targeted leads spent 74% more than other customers.
Previously, the retailer’s sales team prioritized leads to the best of their ability but had to rely on slow, manual credit screenings. Now, the supplier shares lead lists that BlueTarp analyzes and scores using its proprietary prescreening models, providing data on both credit quality and predictors of spend. BlueTarp integrates this information directly into the sales team’s CRM system for a seamless experience, enabling sales reps to quickly prioritize and target potentially higher-spending leads.
For this company, the chances of converting a prospect are further increased by online credit applications with instant decisioning. If approved, new customers can start buying the products they need without waiting days for a manual credit review. After making a purchase, they receive electronic billing and can easily manage their payments through their self-service portal.
The results of this integrated process speak for themselves: After only three months, the retailer found that the newly scored and targeted leads spent 74% more than other customers.
Boosting productivity and results of your sales team
Prescreening sales leads frees up your team to do what it does best—close sales. It eliminates customers who wouldn’t be approved and immediately moves qualified, higher-spending prospects into the sales funnel. With the most promising prospects already identified, salespeople can spend the majority of their time maximizing sales with the least amount of risk exposure.
Bottomline: your credit department’s purpose is to make sales that would otherwise be lost. Traditionally, this mission entails credit approval, billing, collections and monitoring. But by expanding your credit expertise to include pre-screening of potential customers, you can generate significantly more sales while boosting operational efficiencies.