The latest statistics on Big Data in business processes include an increase in global investments. For example, it has already been mapped that they have grown by about 35% in the last three years. Moreover, the amount to be moved in Brazil by 2028 will be $20.28 billion.
In other words, we are no longer talking about a trend, but a reality. The strategic use of large volumes of data is what defines the success and sustainability of businesses.
Let's discuss about this topic? Keep reading because here we will show you:
By definition, a sales strategy is a plan that companies design to guide and plan their commercial actions. Especially to achieve objectives such as:
Increasingly, companies with high commercial maturity—or seeking it—incorporate data analysis into this process. In the case we are addressing here, it involves exponential volumes of data, or Big Data.
This involves collecting, processing, and using large sets of information for various purposes. From identifying trends, buyer behavior patterns to obtaining actionable insights, guiding timely and informed decisions.
In this sense, a Big Data-driven sales strategy involves the use of advanced analytics. Invariably, carried out through advanced technological tools that explore data sets and provide correlations, answers, projections, among other competitive benefits.
The term Big Data refers to the analysis of a huge amount of data. These are produced globally and continuously through the extreme connectivity available today.
This range of information, when structured and interpreted, generates excellent insights for companies to improve their internal and external processes.
Internally, Big Data tools contribute to increased productivity, support decision-making, and help reduce costs.
Externally, they enhance market sizing, deep understanding of target audiences, sales projections, revenue, and revenue forecasting, among other fronts.
In general, Big Data is structured on 5 Vs:
As we have seen, Big Data offers a range of data for companies to find business opportunities. Now, check out a breakdown of its main advantages.
With Big Data, it is possible to test public acceptance even before the official launch of a product or service.
Social networks provide abundant research material on the desires of your audience, which can generate insights for improving current items and even launches.
This fosters a closer relationship between the customer and the company, as this sales strategy places the consumer as a participant in the production process.
As a result, the business ensures a greater potential for market penetration and participation.
Well-done data mining allows the identification of market trends, with predictive analyses.
A company that can map insights quickly and predict movements can make faster decisions and stay ahead of the competition.
In increasingly competitive and globalized markets, agility is always the best way to generate a differential in sales strategies.
Big Data and its tools offer abundant material for this task.
One of the great possibilities that digital marketing offers is segmentation and data capture in exchange for highly useful materials for the public.
This information serves to improve the company's knowledge about its audience, giving them everything necessary to create ads with great conversion potential that directly meet the interests of the target.
There is a range of possibilities for Big Data in the commercial processes of organizations in all market segments. Here are some of them.
One of the first departments where the positive impacts of Big Data can be visualized is Marketing.
Using the right tools for predictive analytics and other forms of data mining, it is not difficult to achieve greater effectiveness with marketing actions, thus optimizing results, saving time, and reducing costs.
Moreover, by mapping consumer behavior based on demographic and behavioral patterns, this area can determine how the public will receive its initiatives.
With Big Data, it is possible to detect potential crises before they become a "snowball," acting at the root of the problem. For example, by analyzing patterns in customer interactions and opinion leaders on social networks and digital channels of the company.
If it is not possible to act at the initial stage, professionals have a basis to create a crisis management plan in advance.
The sales funnel is a "concept/tool" used by Sales, Marketing, and Market Intelligence areas to direct target audiences through a journey divided into stages. Starting at the top, where a large volume of leads enters, and culminating at the bottom, where conversions occur—hence the visual metaphor of a funnel.
With it well mapped, it is possible to lead customers and prospects through each stage, according to their interest in the product or service. The sales funnel stages are:
All this process will be better implemented and accelerated with a greater market knowledge and campaign segmentation.
The more targeted the material, the greater the chances of reaching visitors who have the potential to become leads, and this will be more effective with data mining.
And that's where Big Data comes in. With it well worked, the professionals involved can cross internal and external databases to act contextually, with precision, and reliability.
The effective use of Big Data in commercial processes involves a well-planned strategy, the right tools, and superior analytical skills of the professionals involved.
Check out four basic steps for this implementation.
Among the most recommended solutions are Sales Intelligence platforms. They, integrated with CRMs and other applications, enable:
In this sense, it is worth establishing planning, service level agreements, and collaboration. Always aiming for the exchange of discoveries, joint design of approaches, among other fronts.
In other words, training should be provided so that teams can explore data and analyses effectively. Especially focusing on developing skills to interpret data insights and apply them to approaches such as:
For this, it is fundamental to define metrics and key performance indicators (KPIs) that make sense for the business. Including customer acquisition cost, customer lifetime value, conversion rates, among other parameters.
This way, it will be possible to regularly monitor and analyze the effectiveness of sales strategies. And whenever necessary, reconfigure the route in a timely manner.
Big Data can be applied in all departments of a company, offering a broader view of the business. This is quite tangible in commercial processes, which typically involve Marketing and Sales.
When well explored, it strengthens the sales strategy, as it makes it data-driven from end to end.
Logically, it is necessary to invest in technology and qualified personnel for this initiative to be successful.
How is data usage in your company's commercial processes?
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