As technology succeeds one after the other and modern commerce are shaped by customers, sales remain constant as it is the lifeblood of any enterprise. A good sales person strives to refine his or her knowledge of customer behavior and take grasp of the selling arena in order to keep up with the sales performance needed by the business. It is the same situation applied to sales teams where skills and instincts are no longer enough in this day and age to win the market.
Embedded technology for sales such as Analytics and Business Intelligence are now considered as essentials rather than an accessory for sales teams. More often in the future, it is the difference between success when it comes to exceeding sales targets and floundering in the dark in chasing unattainable goals.
Sales targets, no matter how ambitious -- are often rationalized and given weight with the proper insight on how to achieve it. This is where platforms such as analytics and business intelligence are utilized to quantify both success and failure as factors into variables with a definite statistical yield.
Let’s define and distinguish the difference of Analytics and Business Intelligence:
Analytics – is the practice of iteration, methodical exploration of an organization's data such as sales, with an emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision-making on fields such as sales.
Business Intelligence - is a process driven by technology for analyzing data and presenting actionable information to help executives, sales managers and other key decision makers make informed business decisions out of quantifiable evidence.
Below are factors how Analytics and Business Intelligence as components or centralized platforms to launch on are changing the sales arena.
- More Sales to the Existing Customer Base – It is widely believed that selling to an existing customer is harder than selling to a new customer. With analytics in play, quantifiable data out of customer preference, interaction with the product and dependency are crunched into actionable scenario that sets off notifications on when to approach an existing customer for an upgraded sales proposition.
- Better Sales Support as a Service – Customers are most likely to buy when they see the benefit of a product other despite not within their immediate need. Through key figures basing on customer tendencies on a product and mapped customer journey post-acquisition, sales persons can propose the sale as a form of support to upgrade the sales proposition from “need” to “essentiality”.
- Data Driven Sales Decisions – Whether you’re selling beyond expectation or underperforming from expectation, the traditional sales savvy professional will just bear through the trend and redeploy his or her skills as a second wind. Modern sales teams today are equipped with data and information basing on tendencies leading to the pre-sales path and the lost opportunities path. One’s skill has limitations and the natural “sales instinct” adage is no longer sufficient today as quantifiable data is proving old sales methodologies wrong.
- Change in the Reporting Methodology – The advent of Business Intelligence has also changed the perception of sales people on reports as there are less contention on the figures or statistics yielded. Today, sales people are more inclined to knowing how their sales numbers fare on several sales approaches when it comes to the sales funnel. This includes tendencies that set off sales pathways and drop-offs. When it comes to the integrity of reporting, analytics help establish the grounds of trust when it comes to reporting.
- Better Sales Support – Analytics and Business Intelligence are more than just end-reporting generated for sales people, it can also help bridge marketing efforts in achieving a true “sales & marketing” alignment that help dramatically improve the overall performance of each department. Much more, figures from analytics that are crunched and visually styled for department comprehension can be a force for improving key performance benchmarks of departments from sales to customer support.
Skill and experience for each member of the sales teams still matter as the technology of Analytics and Business Intelligence are based to bolster their performance through quantifiable data that is derived from the field personnel and how prospects are reacting whether they fall into the pre-sales or missed opportunities categories. The idea is that data driven decisions based on key insight will help improve individual and team sales performance.
When it comes to outbound sales outsourcing where a business places their trust in a contact centre provider to help bolster sales while maintaining the brand’s market integrity, a solutions provider such as Global TeleForce utilizes sales analytics and business intelligence to maintain performance and exceed sales targets through the statistical maturation of the campaign. That way, we make informed sales decisions to further improve the campaign.
To know more about our outsourced sales services, call us today AU +1300 77 88 62 or PH +63 917 5680402 | +63 917 5166897 or email us email@example.com.