Sales: Unlocking the power of data
Thanks to the way that consumers - and businesses - now use technology to buy, sell and search for products and services, there is a huge amount of customer data now available - and plenty of specialist companies offering to help you to analyse it and apply it to your business. But why bother? Well, here at Big Motoring World we'd suggest that it boils down to one simple headline: it's about making better decisions. Here's a quick breakdown of why unlocking the power of data can transform the way you do business. For us, making a 'better' sales decision for you and your business is all about identifying what will deliver the most value to your company. And data can play a huge role in identifying where you can find value, in a number of ways.
Good data can give you a clear picture of where your team is performing well, and where it isn't
Whatever metrics you use to measure performance in your sales teams, data analytics can make a huge difference to how well you understand the way that your teams operate - how different sales people behave in different situations, their relative strengths and weaknesses, and the prospects that they could be best matched with to get the best results. Analytics of this sort gives you a detailed picture of the make up of your team - and helps you to make better decisions about where you need to hire or develop talent in-house.
It can help you develop new leads - and convert them
For a sale to happen, you need to match the right prospect with the right product or service at the right time. Again, data analytics is invaluable here, because the more effectively you can understand past behaviour, the better you will be able to predict what your prospects might do in the future. This kind of information allows you to predict behaviour more accurately, and focus your resources with more likelihood of success.
It can help to identify cross-selling opportunities
Beyond that initial sale, having access to large amounts of customer data and the tools to analyse it can give you the insight you need to grow your sales even further. By having a bigger, more accurate picture of a customer's motivations and behaviours opens up all sorts of cross-selling opportunities - and potentially transforms a one-off sale into a long term, and valuable relationship. Ultimately, data is nothing without the analysis to make sense of it. Today, the tools are there to help you and your business make more sense of the mountains of information that we all now have available. Harnessing that power can transform your best hunches and instincts into something far more solid and sustainable.