How Do Corporate Banks Use Beauhurst?
Sarah Cheeseman, 10 July 2023
It goes without saying that the corporate banking industry is a competitive one. With businesses tending to choose their provider and stick with them throughout their lifetime (or at least a significant period), there’s a slim window of opportunity to get in front of them in the early stages and showcase why you’re the best provider for them. But how do you actually do this?
One of the best ways to find your audience at the right time—and continue to service their needs throughout their lifecycle—is by utilising the power of data. We track every private company in the UK and identify those businesses that are innovating and growing. That’s why our BeauhurstAdvise platform is so valuable to corporate banks.
What is BeauhurstAdvise?
BeauhurstAdvise is a data platform that brings together 5m+ profiles of active UK companies into one searchable system. We provide up-to-date visibility on every different industry and sector using a unique blend of machine learning models, data extraction tools and 60+ data analysts. The resulting data is accurate, verified and relevant. And because we’re constantly developing and updating the platform and data, our customers have everything they need—at every stage of the process.
Why do corporate banks use BeauhurstAdvise?
We pride ourselves on offering a solution that provides value at every stage of business development and retention planning. Here are four key reasons why corporate banks already use the BeauhurstAdvise platform:
1. To find early stage businesses
Finding businesses when they’re in the early stages is vital if you’re looking to develop long and trustworthy relationships. Our platform has ‘triggers’ for high-growth companies—think funding, scaleups, spinouts, high-growth lists and accelerators—which mean you never miss an exciting company. So you can find the cream of the crop with data and insights.
2. To find entrepreneurs
It’s not just businesses we track, but people too. Our tracking triggers help you to locate entrepreneurs in the right industries, enabling you to reach out directly to demonstrate the benefits of working with your bank early on. Our platform allows businesses to start stronger relationships with entrepreneurs for their future business banking needs.
3. To develop targeting and strategy
BeauhurstAdvise can be transformative when it comes to developing internal strategies. Tracking existing clients enables you to get a much clearer understanding of which stage in a company’s life cycle is most beneficial for you to reach out, as well as which messaging works best for them, and what products are best cross-sold to different groups. By building your strategies around actual data, you cut down on guesswork and create campaigns that are specifically designed with your target audience in mind. Additionally, you can spot growth sectors that may not have otherwise been on your radar.
4. To build alignment between different teams
There’s nothing more frustrating than having different teams within the business singing from different hymn books. Many internal banking teams are siloed from each other, working with different CRMs but largely targeting similar companies. This can result in one potential client being spammed with multiple messages from different people within your bank, damaging your reputation and halting any business discussions before they’ve even started. With Beauhurst, all teams can be aligned on the same software, allowing you to coordinate your efforts and create a much more streamlined and effective approach.
What can I use BeauhurstAdvise data for?
While all of our corporate banking clients are different, the ways they use the BeauhurstAdvise platform are largely quite similar, focusing on new ways to find potential clients in their target market and advise them appropriately. Here are a few examples of how we’ve helped users in the past.
View unannounced deals
With us, you can see not just announced deals, but those that aren’t made public. We track unannounced deals to give you unique insights into what’s happening within an industry, away from prying eyes. Many customers use this to discover new companies, understand what stage certain businesses are at, and to learn which products and services they require.
Set up alerts
Our alerts function notifies you by email if any new people or companies fall into a saved search. This means that you don’t miss out on opportunities or new companies on the scene, so you can be the first to reach out. You can also monitor your existing client base, identifying the best times to cross-sell them other products as their needs change, or to just maintain a friendly and engaging relationship with them.
Follow non-transactional triggers
Although many of your client relationships will focus around their transactions, there are plenty of other triggers that we follow to help build an understanding of who they are and what they need. This includes tracking academic spinouts, grant recipients and IP data—all of which can be great indicators of growth businesses that are likely to have particular success in the future.
Working with Beauhurst
At Beauhurst, we want our clients to extract the most value possible from our data. That’s why we invest so much time into understanding exactly what your needs are and how we can support you not just through the data available, but through personalised insights and advice from our experienced account management team.
From helping you build out targeted searches, to advising on best practice campaign ideas, we’re always here to help boost your business strategies and see success through our platform. If you’d like to find out more about how we can work together, speak to a member of our team today. You can also see how the platform works by booking a demo.
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