From Big Data to Sales Management: A Quick Guide
Big Data is proving to be the biggest game-changer for sales and marketing arenas. Big Data has brought aboard torrents of data that is helping companies hold loyal customers who return again and again. With organizations generating unprecedented volumes of data every day, leveraging Big Data in the sales process can help companies boost growth manifolds.
Big data encompasses wide opportunities for B2B and B2C sales management. With the right analysis approach, the sales team can translate the Big Data into presentable and visually appealing forms and further leverage it to extract valuable insights. Thus, increase sales prospects on the move.
Here is your ultimate guide to knowing Big Data for sales management:
What is Big Data?
Gartner defines Big data as massive, intricate data that can be both- structured, unstructured. This data form is generated from a variety of data sources. In short, big data is diverse that accumulates in voluminous numbers, and grows exponentially with time. It consists of large data sets to be processed and analyzed. They help to uncover valuable information for predicting trends assisting businesses and organizations.
How does Big data guide a sales funnel?
- Searching for new leads- Big data analysis helps you gain invaluable insights regarding how your customer feels about your product or service. Further, you can link this big data with social data to understand any overall sales barriers. It can aid you to tap new markets and find leads in a bigger target audience.
- Level up your conversion rate- Applying Big data results allows businesses to reach new customers, increase sales and accelerate conversion rates. It can help marketers with planning, price optimization, and developing customer engagement strategies.
- Generate repeat sales- Marketers can repeat their sales by keeping a record of them within the user database. With numerous sales tools available in the market and online, it has become easy to review sales reports.
- Predict Future Sales- Big data collection lets businesses choose their top-selling products globally. This well of data, if harnessed correctly, helps in determining the most demanded products in current locations. These data sets provide firms insights into customer buying patterns, preferences, behaviors, dislikes, etc.
What are the types of customer information that accrued with Big Data?
Want to know what is Big data and how it helps in gaining customer patterns? Big Data is a great contributor to understanding online consumer behavior. The customer patterns on the internet collect loads of big data that can help organizations to gather information regarding consumer behavior. Big data assists organizations to collect:
- Customer search data
- Alternative competitor evaluation
- Customer purchase behavior
- Consumption of product
- Post-purchase evaluation
- Post-purchase engagement and several other use cases
How to Implement Big Data in a Sales Plan?
Many organizations often set productive sales goals at the beginning of the year. Then, it usually occurs that it gets neglected within a month. The best way to implement Big Data for your sales management is via OKRs. Objective and Key Results (OKR) refers to a goal management framework. It tells you where you want to go in your sales venture with some goals and tracks key results accordingly.
Below are some OKRs that every company must set to improve their sales flow with Big Data:
- Set sales growth- Set some concrete sales growth goals that your firm wishes to gain in a definite time. Then, analyze the big data metrics to see if you are achieving it.
- Sales target- It tracks your current sales performance against your business objective. Utilize big data for checking revenue, units sold, or any other relevant measure.
- Product Performance- For companies selling multiple products with dedicated targets for each, it becomes imperative to track the datasets for sales for each line.
- Lead-Conversion Rate- Lead conversion data analysis lets teams continuously optimize sales performance for steadily improving the customer experience.
- Sales to Date- Perform rapid Big data analysis by comparing your current product sales against the previous period. It will help you to get a sense of historical trends and predict future patterns as well.
How to Leverage Several Big Data Tactics to Escalate Sales?
Big data embodies the power for predicting consumer behavior by finding patterns in large datasets. Here are some golden tips on using Big Data for a seamless sales plan:
- Customer analysis techniques
- Price strategy optimization
- Advanced customer responsiveness
- Successful customer relationships
- Sales-focused company goals
- Streamline SEO pipeline
- Geo-targeted marketing
Big Data Optimization and Visualisation
Unorganized data contributes to unreliable insights, datasets, and devices. It leads to poor business decisions causing users and consumers to suffer ultimately. Hence, optimize Big data for achieving the best sales results. How to collect and visualize Big Data effectively? Here are some tools to leverage while collecting and visualizing it:
Tableau offers as one of the market leaders for Big Data visualization. It poses efficiently for fostering interactive data visualizations for Big Data operations and its derived results. It also caters to deep learning algorithms and many AI-driven apps. It combines your data from multiple sources in just a few clicks. Further, you can also create flexible and interactive dashboards with custom filters. It also holds a drag and drps functionality.
Google chart is one of the best solutions for big data visualization, not to mention it is open-source and receives complete support from Google. It offers a host of visualization types from time series and pie charts to multi-dimensional interactive matrixes. You can also present these visualizations in slide decks to make it easy for your stakeholders. Leverage professionally tailored SlideModel templates for the best slides.
This tool will collect and create beautiful sales big data visualizations in no time. It allows you to link their infographics and visualizations to real-time Big data. You can choose from multiple templates. Personalize them with charts, maps, and images. Additionally, you can take merit of SlideModel’s Big Data PowerPoint templates to synthesize this information and impress your clients.
Wrapping It Up
The modern Big data tools have made it feasible to gather loads of customer data. But, wielding significantly is the key to make the sales go up. Big Data tracks your sales performance in real-time and helps you to make better business decisions. Adopt this quick guide for implementing Big Data in your sales plan and leverage its manifold benefits.