Explore how generative AI can help your company get more out of your safety data sheets.
Sales AI
October 10, 2024
One of the most useful strategies used in business is the SWOT analysis. For chemical companies, SWOT (Strengths, Weaknesses, Opportunities, Threats) analyses specifically help sales teams gain a deeper understanding of product applications and competitive advantages.
Let’s look at some of the ways technical sales teams can use SWOT analysis to drive revenue and close lasting deals. More importantly, let’s consider the benefits of using AI in this incredible industry, improving the insights and outcomes of your next sales SWOT analysis.
When a SWOT analysis is done well, it provides a structured framework for sales teams to evaluate products with high cardinality from multiple angles. The whole, high-level view of Strengths, Weaknesses, Opportunities, and Threats enables technical sales reps to:
With complex product portfolios and a highly technical customer base, SWOT analyses are crucial for chemical sales teams if they are to position the company as the best. With deeper product knowledge, sales reps match the right solutions to customers and facilitate more effective sales cycles against competitors.
When conducting a SWOT process, chemical sales reps typically analyze at least 2-4 products to start. These products can be internal to the company or alternatives offered by competitors.
For each product, sales reps should identify and analyze the primary attributes of a specific customer use case. The analysis considers the four main quadrants (S-W-O-T).
Analyzing the Strengths identifies internal positive factors that give the organization or product an advantage over others. In chemical sales, examples of Strengths can involve:
Addressing the Weaknesses portion of the analysis pinpoints internal limitations, disadvantages, or areas for improvement that may hinder success or competitiveness. For instance:
Opportunities identify external factors or potential developments that could be leveraged to enhance growth, performance, or competitive advantage. These typically relate to customer applications of chemical products. Examples include:
The Threats aspect of SWOT highlights external challenges, risks, or potential obstacles that could negatively impact an organization's or product's success. This is often viewed through the lens of industry demands and customer needs. Specific examples of Threats in chemical sales can involve:
By systematically evaluating these four aspects, chemical sales teams can develop stronger strategies to maximize product potential and address market challenges effectively.
Regularly conducting a SWOT analysis is useful. However, sometimes a sales team can only come up with so many evaluation factors and sometimes, even the wrong evaluation factors.
Generative AI can be an extremely productive tool to add to SWOT analysis for sales in chemicals. Most importantly, it frees up a lot of time, energy, and brainpower by analyzing large amounts of product data and market information to produce a comprehensive result. It does the analysis for you so that your team can focus on building a strategy.
Think about all of the attributes a sales representative has to consider for every product — such as viscosity, specific gravity, color, tensile strength, and other technical details. GenAI sifts through these attributes to identify which are most relevant to a designated application.
Additionally, AI can factor in the context of how products will be used, providing SWOT results that are tailored to particular industries or applications. For instance, it can highlight the different strengths of a product used in soap manufacturing versus cosmetics.
Generative AI can assess all of the attributes of a SWOT analysis for your products, identifying Strengths, Weaknesses, Opportunities, and Threats that a human might have missed. Additionally, this more thorough report can help determine which attributes apply to unique customer scenarios.
Using generative AI for SWOT analysis — among other vital sales planning and routine tasks — creates an accelerated sales process so that your team can land more deals. This is because:
Generative AI takes your SWOT analysis to a new level of accuracy, offering new ideas and faster comparisons. For chemical sales teams seeking this advantage, Nesh provides a tailored AI solution.
Nesh Sales AI is a dynamic solution for generating comprehensive SWOT analyses for chemical product sales.
Here's how it works:
Using Nesh for SWOT purposes results in:
By leveraging Nesh's AI-powered SWOT capabilities, chemical sales teams gain a significant competitive advantage. Reps can approach customer conversations with deeper product knowledge and accurate information to close deals faster.
In the fast-paced and complex specialty chemicals industry, using AI as your analytical partner is essential. Nesh empowers your team to conduct SWOT analyses at a depth and scale previously unattainable, driving more informed sales strategies and ultimately, better results.
To supercharge your chemical sales team with AI-enhanced SWOT analysis and other powerful features, connect with Nesh for a custom demo.
Want to learn more about AI use cases for chemical sales? Don’t miss our Fact Sheet: 6 GenAI Use Cases for the Future of Chemical Sales.
Explore how generative AI can help your company get more out of your safety data sheets.
Learn how to optimize your technical sales cycle with AI.
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Generative AI and retrieval-augmented generation (RAG) have become essential tools for chemical technical sales teams.
