How to Boost Your Sales with Big Data

May 16, 2014
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ImageThe industry of sales plays an essential role in virtually every industry that exists today. Companies are constantly seeking ways to get more people to consume their products and services and that generally happens through sales.

ImageThe industry of sales plays an essential role in virtually every industry that exists today. Companies are constantly seeking ways to get more people to consume their products and services and that generally happens through sales. Unfortunately, many companies, large and small, have traditionally relied on tactics that are extremely ineffective at enticing consumers to consume — things like cold calling or door-to-door methods. These are by no means the only mistakes made in sales. Ineffective marketing, poor target areas, poorly trained salespeople along with others contribute to ineffective sales that turn consumers away and deplete company resources.

To cure most of these ills, large amounts of data on company practices, consumers and the actual sales force, is needed. Traditionally this has been difficult to come by for many companies. For some the problem isn’t gathering the data, but figuring out how to analyze and make sense of it. Fortunately, with big data in the cloud and Hadoop in the cloud, companies in the sales industry can become much more efficient and effective.

Leads

A key factor in finding success in sales is generating a large amount of leads. Without leads, it’s extremely difficult to get people to buy, because that’s when companies generally resort to the cold calls or door-to-door methods. The more leads the more success a company is going to have. With big data, companies now have an important tool to increase the amount of leads generated and consequently the success garnered. For a lot of companies, leads often come from the marketing department more so than from the salespeople. Big data can improve the ratio from the salespeople.

How?

Focus Areas

Big data makes it much easier for companies to pinpoint areas with the greatest potential for success from past results. Companies can also use real-time monitoring to evaluate the selected areas and make quick changes if necessary. When the reps are in areas with higher levels of success, the number of leads tend to also rise. So, by being able to be more precise in where reps are sent, companies increase sales and leads.

Feedback

Perhaps more than anything else, the amount, quality and accuracy of feedback that big data can provide will boost the sales of companies in every industry. Now, more than ever, companies can gather feedback from numerous sources — social media, website, phone calls, webchats, and the reps themselves. Both quality and quantity matter when it comes to feedback, and big data makes that possible. The market is always changing, and with real-time analytics companies can keep on top of the changes and give their sales force the greatest chance for success.

Gamification

Sales forces generally place a large emphasis on sales goals or quotas. It drives them and motivates them — they want to have their name at the top of the list. What better field than this to implement gamification? Naturally competitive and loving rewards, the sales industry provides the perfect platform. Gamification not only increases the effectiveness of sales over all, but it also provides an important tool for monitoring.

Monitoring

Big data is important for monitoring the effectiveness of both products and people. With gamification and other tools for monitoring, companies can bring in large amounts of important information that allows them to analyze their workforce and make necessary adjustments to increase productivity or to adequately reward past results.

Customer Experience

Whether it’s in retail or insurance, consumers expect companies to provide a positive, engaging experience. It’s these kinds of experiences that make a consumer want to buy your product, and what better way to know how to provide this kind of experience than big data? With so much information at their fingertips, companies can really meet the needs of their customers in a unique way.

Big data is extremely important for the sales industry. It is revolutionizing the way things are done and will continue to do so in the future. It’s increasing the overall effectiveness of the sales force which comes back to benefit the company as a whole.

Image Source: pixabay