1. Protect Your Fleet Data Investment
In fleet, your target market is finite. Treat prospect and customer data with care. This data is your foundation.
One way to protect your data investment is to build a CRM database with accounts and contacts, versus treating it as a disposable short-term list.
Data is most often used only for tactical email campaigns. If you use fleet market data to inform strategy, this mindset can give you an advantage. It’s the same data. The difference is how you use it.
2. TAM: Your Potential Fleet Market
TAM = Total Addressable Market, the most amount of revenue you can generate by selling to your fleet market. And because you sell to fleets, think of it as the Fleet Addressable Market (FAM).
It’s mostly used to know the revenue potential for your product or service, and to communicate that to investors.
Knowing your market is an important first step, before you drill down further to identify your Ideal Customer Profile (ICP).
3. ICP: Your Ideal Customers
ICP = Ideal Customer Profile. What fleet is most likely to need and buy your product or service?
Most people think about fleet size, type of vehicle, geographic location. And while that’s important, also consider: What types of customers convert from leads to customers faster for you? Which pay more (e.g. don’t pressure for heavy discounts)? Which pay you faster? Which are more likely to be long-term customers? Who is more profitable? Who can you realistically serve very well?
4. Reach Prospects with the Right Fleet Data
To efficiently and profitably reach fleet accounts, it’s critical to have data about the fleet vehicles, in addition to B2B company firmographics and contacts.
As we’ve worked with fleet data for almost 15 years, we’ve learned that not all fleet data is the same. You need data that best matches the audience you want to reach. We also advise how to make the most of your budget.
5. Focus on the Best Prospects
Once you’re receiving a steady stream of leads, you’re running campaigns and calls, and converting to customers, you’ll find some customers are more desirable for your business than others.
This is when you analyze your customer accounts and CRM database. Focus your data acquisition, demand gen, and lead generation on the best prospects for you.