It is safe to say that Big Data is revolutionizing the ways in which sales and marketing teams attract customers. With greater insight and actionable intelligence sales and marketing teams are finding new and creative ways to generate revenue while reducing cost. Marketing teams rely heavily on predictive analytics in order to limit their total spend. Rather than deploy traditional mass appeal advertisement campaigns, marketers now use SEO optimization and targeted messaging campaigns through email and SMS. Sales teams are using Big Data algorithms to improve sales forecasting, generate pricing strategies, and increase customer retention. Big Data has made it easier for these departments to collaborate. A successful collaboration further reduces operational costs, saves time, and increases revenue.
With the use of predictive analytics, marketing departments are becoming more precise with their marketing spend. By leveraging previously unseen insight in their data sets, marketers can target prospective consumers with more accuracy as well as deploy account-based marketing strategies. Marketing teams benefit the most from Big Data when using it to optimize digital campaigns such as, SEO marketing, email marketing, and mobile (SMS) marketing.
Sales teams are using Big Data and its related technology in a number of ways. For instance, the use of sophisticated algorithms has increased the accuracy of sales forecasting. Big Data analytics can aid in price point optimization, differentiating pricing strategies, improving customer responsiveness, and increasing the potential for loyal customers. Real-time sales data visualization technology gives decision makers the ability to adjust tactics at a moments notice.
Big Data applications are revolutionizing sales and marketing processes. New technology and advanced algorithms are making it easier for sales and marketing departments to coordinate their efforts in order to improve customer retention, increase revenue, and decrease operational cost. In order to achieve the best results decision makers in both marketing and sales departments should work together to set achievable goals. For example, a marketing team can analyze data and supply the sales team with valuable consumer information. With a better picture of the consumer’s journey provided by the marketing team, the sales team can better understand how to reach both online and offline consumers.
Sales and Marketing Use Cases
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