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    ThinkSales State Of B2b Sales In South Africa 2021 Survey

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    ThinkSales State Of B2b Sales In South Africa 2021 Survey

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      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      The 7 Strategies of SA’s Strongest B2B Sales Performers for 2021

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      3 Sales Strategies SMEs Can Borrow from SA’s Strongest Performers

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      SA’s Strongest Salesforces Focus on Value, Not Discounting

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

      Why SMME’s Need To Think Small

      Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

      Five Money Management Principles To Start 2021 On The Right Financial Footing

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      Home BUSINESS Sales Sales Prospecting

      3 Ways You Should Use Data Science To Skyrocket Sales

      Olivia Ryan by Olivia Ryan
      Apr 30, 2018
      in Sales Prospecting
      0
      Data Science
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      RelatedTopics

      3 Steps To Healthier Client Relationships

      7 Steps To Master The 80/20 Revenue Model

      Empower Your Team To Make More Sales


      Sales professionals have to be clever and extremely analytical before even approaching their clients. That’s why they use data science to skyrocket business. Data science is a contemporary statistical model which seeks to provide meaningful information from large amounts of complex data.

      According to the study, this type of business analytics is expected to generate almost USD170 billion in 2018. If you want to keep the business stable and highly profitable, you should consider embracing data science in everyday work. This post will show you 3 ways to do it successfully.

      Prospect Analysis

      Data science is based on artificial intelligence that has enough analytical power to give you remarkable insights into the traits of all prospects. Using this tool, you can personalise sales negotiations so as to match the exact needs of each client individually.

      For example, data science will tell you the basic demographic features like age, gender, and location. But it goes beyond that and reveals income levels, professional titles, or personal interests based on online searches. All these inputs allow you to customise offers according to client’s preferences.

      At the same time, you can prioritise prospects based on company size, predicted revenue, long-term potential, industry influence, or any other feature you might consider relevant to your business. This way, you can dedicate more time to the more important prospects and increase profitability just because you know who to talk to first.

      Upselling

      It’s much simpler to sell products to existing customers than to attract new buyers. Data science can help you to upsell products and increase the profit using the base of loyal clients.

      Related: What Really Drives Sales Growth And Repeat Business?

      The system is simple – data science analyses the purchasing history and the preferences of every customer and suggests complementary products. That way, you make sure that your upselling suggestions stay relevant, which not only reduces bounce rates but also strengthens the base of loyal clients.

      Create Ambitious Sales Quotas

      Creating sales quotas has never been an easy job. Most companies are selling dozens of products in many cities, regions, or even countries, which makes it difficult for sales managers to manually determine ambitious but realistic quotas for their agents.

      It’s actually one of the biggest reasons why managers underperform and fail to meet company requirements. However, data science makes this task a lot easier because it can automatically conduct the research and decide how much is enough for every sales representative in your team.

      Company Aussie Writings uses data science to make sales forecasts and here’s what they say about it: “The new business analytics model goes through huge volumes of data within minutes, detect sales trends, and givesus a good plan for each agent, product, or region. With such powerful tool at our disposal, we don’t put too much pressure on sales representatives, but we also don’t have to worry about underachievement.”

      The benefits of data science

      Data science helps businesses to analyse potential clients more comprehensively and increases the odds of keeping sales high in the long run. It’s a perfect model for entrepreneurs who want to stay competitive in the abundance of brands, products, and services.

      Related: Get Those Quotas Moving (Upward!) In 2018! 5 Things Your Salespeople Can Do

      In this post, we showed you 3 ways you should use data science to skyrocket sales. Which tip could give your company the biggest boost? Let us know in comments and don’t hesitate to ask us if you need any additional information about this topic.

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      Olivia Ryan

      Olivia Ryan

      Olivia is a passionate blogger who writes on topics of digital marketing, career, and self-development. She constantly tries to learn something new and share this experience on various websites. Connect with her on Facebook and Twitter.

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