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25 May 2016

Big Data is witnessing increased adoption across industry verticals globally. The technology has proven its mettle to help companies leapfrog towards their growth objectives. It has enabled them to remain ahead of competition with valuable insights that makes all the difference.

There is no function in the enterprise setup that has remained untouched by the direct or indirect influence of Big Data analytics. Even the mission-critical sales and marketing function has evolved for the better with the advent of Big Data and predictive analytics. It will be wise to say that much of the modern sales and marketing function would not deliver sustained results if it not had been for the data-driven prowess of Big Data.

Why is Big Data needed for sales and marketing?

Sales teams used to be primary sources of brand information for potential customers. However with the combined influx of data from IoT, mobiles, blogs, social media, and from the Web, there are now multiple sources of brand information that influence the buying decision of the potential prospect. Instead of being relegated to the sidelines, what sales teams can do, is be alert and see what the buzz is around their brand on these channels. And considering the volume and veracity of data explosion from these channels, probably the only way to do this smartly would be to employ the value of Big Data analytics.

How Big Data analytics will influence sales and marketing?

We look at some ways in which the use of big data analytics is bound to prove beneficial for the sales and marketing function

1.Knowledge is Power - Knowing your customers better, your market better, and your customers even better, is what will take you one step closer to the conversion process. And what better way to gather this form of intelligence than with big data analytics? Armed with details about what the customers’ need and preferences are based on his/ her social media interaction, or even by the reviews he/ she puts up on e-commerce website, a smart salesperson can glean amazing insights on the thought process or views of the customer, even before he has met the customer for the first time.

2.All pervasive – Irrespective of the subset of the sales and marketing function, one underlying characteristic holds true for all sub-functions – right type of information at the right time is what will help draw your prospect closer to your brand and farther from your competition. Be it lead generation, lead nurturing, sales pitching, or follow up calls, having adequate insights from Big Data analytics gives sales people the extra edge to go the distance and help in the sales conversion.

3.Ready for the future – Deploying marketing analytics solutions helps the sales and marketing team to go beyond traditional statistical data analysis. It also touches upon behavioral data and social media analysis. This extensive intelligence is what helps them to get hard insights on subjects that were earlier purely theoretical or hypothetical. For instance, checking the voluminous data sets of past purchase history of buyers can help you anticipate when and how much will they be buying in the near future.

4.Making it simpler to absorb – The huge data explosion presents a myriad of challenges to the sales and marketing team. What can help here is introducing a basic degree of algorithmic marketing. When done as a strategic DIY initiative within the organization, it has been proven to add a valuable layer of intelligence to customer interactions. Wondering if it actually produces the desired outcomes? This technology has been used successfully by a Latin American bank to catapult to global dominance position.

5.Pre-purchase intelligence – As much as 35% of the customer’s pre-purchase activities take place on the huge cross-device digital ecosystem. Imagine the potential rewards if the sales and marketing team can glean insights on these channels. By investing into appealing web design and strategic SEO to help customers discover your brand and stay hooked on it. With this data on the 35% activities, the sales and marketing team can tailor personalized marketing messages to retain existing customers or attract new ones.

Parting thoughts

Big Data and predictive analytics has become the de-facto approach for companies to continue to outperform their business rivals and remain significant to their customers. With sales and marketing influencing a substantial degree of customer’s journey with your brand, it will make complete sense to introduce the new age technology into this crucial business function.

Want to know how? Then feel free to connect with us at CIGNEX. With our blend of 360ᵒ technology competencies and wide industry exposure, we can help you integrate Big Data that translates to massive RoI gains for your business.