As tech businesses rush to improve their revenue operations, they shouldn’t reinvent the wheel.
Ops-heavy verticals like manufacturing have been building optimization frameworks that translate really well into revops. Just In Time Production (JIT) is one of these and may be one of the quickest wins any ops team can get.
In this article, we’ll explore what this is and how to apply it to your revenue funnel.
What is JIT?
JIT is a bit counterintuitive, which is why it is so revolutionary — the idea is to source components into your production line at exactly the time you need it instead of buying them in bulk.
‘Bulk Sourcing’ was the industry standard before JIT and seemed more efficient because of its many benefits; bulk purchasing discounts, being able to handle logistics in batches and lowering supply chain risk being a few.
And while all that is true, there’s a catch to this — working in bulk creates dozens of inefficiencies downstream that far exceed its benefits. For example:
- You have to finance the bulk purchases
- Inventory has to be maintained in a warehouse (stored, retrieved, cooled, etc)
- Components have to travel larger distances (takes time, parts get lost, etc)
- Production specs can’t change as needed with new information (eg: safety recall)
When Toyota implemented this as part of its famous ‘Toyota Production System’, they saw efficiency and quality levels soar to levels that made it the #1 car manufacturer for 40 years.
Data In CRM Is Similar
Today, most people buy data in bulk at once, but have to scrub, validate and maintain it far before they market to their contacts. This process includes cleaning up lists of bad email addresses, duplicates, formatting issues and more. As a result, a lot of time and money is wasted on data that may be outdated by the time it’s used.
With Just in Time data, sales and marketing professionals can acquire the data they need right when they start their marketing campaigns.
This way, they can continuously refine their ICP, be sure that the contacts that they’re mining haven’t changed their jobs and that their targeting is accurate. All of this leads to better data, better customer experience and higher conversions.
Is Just In Time Data For You?
If you’re on the fence about whether Just in Time data is right for you, consider the following benefits:
– Save time and money by only purchasing the data you need when you need it.
– Reduce waste by avoiding stockpiling data that will go unused for months (or even years).
– Get fresher, more accurate data that’s sourced closer to the time when you’ll use it.
– Streamline your processes by simplifying your data management workflow.
– Focus on your core competencies by outsourcing your data sourcing and list maintenance needs.
How Do you Make This Happen?
To work with Just In Time data, you need two things: a fresh data source and a mechanism for mining it continuously and operationalizing it in your GTM stack. The conventional model
The largest and most accurate database available today is Linkedin. The challenge of course is that its data is closed; there is no real-time API into it except to use SDRs, whose capacity and sourcing quality vary (after all, prospecting/data entry is one of their least favorite activities.
Truly.co can help with this, as it lets you build AI-enabled robots to that replicate the workflows and judgments that a human would do when it comes to prospecting Linkedin. Data can be sourced, cleansed and imported directly into CRM according to your specs continuously and you can be sure that jobs and emails are validated just hours before the contacts are sequenced.
Time is money—that’s especially true in today’s competitive business world. If you’re looking for a way to save time and money on your sales and marketing efforts, Just in Time data is worth considering. Want to learn more? Book a Meeting with us today to speak to one of our automation consultants!