Big Data & analysis
- Salespeople now have access to an enormous quantity of data, compared to even four or five years ago, but extracting insights and turning them into action is considerably more difficult. Sales executives who get it right make smarter judgments, discover new sales and deal possibilities, and fine-tune their sales growth strategy.
- The huge transition we’re seeing now is from historical data analysis to leveraging data to be more predictive. Sales teams employ advanced analytics to determine not just which possibilities are the greatest, but also which ones will assist reduce risk.
- In sales analytics, there is a lot of untapped potentials.
- In order to properly understand the consumer, a successful sales organisation must investigate all possibilities. It’s critical for sellers to know who their particular customers are, who their buyers are, who the decision-makers are, who the influencers are, and who owns the budget — as well as how they see their company.
- A lot of this may be learnt from what people post online on various platforms and in various ways, such as expressing ideas, asking for help, and participating in general discussions.
- Outsourcing of sections of (and occasionally all) of the sales value chain is one of the sales trends we saw while conducting research for Sales Growth. What’s different now is that third-party suppliers may now handle a company’s whole end-to-end sales process thanks to the automation we outlined before.
- These businesses are familiar with your target categories, utilize big data to discover leads, market to different segments with different offers and platforms, and then match their own salespeople to individual clients depending on the chance of converting that specific sort of person.
Automation & Artificial Intelligence
- We conducted research with the McKinsey Global Institute and discovered that 40% of typical sales duties can now be automated. Already. According to the report, this might reach 50% with expected technological developments, particularly in natural language processing.
- A good example is lead generation. AI can keep these leads warm for months, even introducing them to each other. This is just one area of sales that AI may assist with; the salesperson’s role in the sales organisation will remain vital.
- However, given that we believe the human touch will remain important in consumer contacts, there are concerns about what function he or she will play and what abilities he or she would require.