Are the sales and marketing resources of your company focused on the best opportunities to increase revenue and market share? Often times they are not. That's because sales resources are aligned in any number of ways: proximity, biggest targets, salesperson’s comfort zone, marketing budgets, etc. None of which are consistent, repeatable or sustainable. Strategically implementing a B-to-B marketing analytics platform will improve your demand generation efforts.
Lead Gen is very important…
Lead generation is a critical element of every sales and marketing organization. However, “leads” come in all shapes and sizes. They come from a direct marketing campaign, from a call center, from traffic generated at a trade show, from a web visitor downloading content from your website, from a web seminar, etc. Yet, many of those “leads” are companies that you cannot afford to sell to due to their limited budgets. Or the contact is not in a position of buying authority. Other “leads” are simply your competitors trying to find out what you are up to. And still others are just interested in the topic, with no specific opportunity.
What if you could identify and prioritize the best possible opportunities among your universe of customers and prospects?
What if you knew for each of your product lines, which customers and prospects were most likely to buy?
What if you knew which opportunities to align your resources to in order to achieve the biggest impact?
It’s in the data.
Begin by building a data set of your customers and prospects. Add targeted third-party data (such as industry, company size, revenue, title types) and apply predictive analytics. Just as has been occurring in the B-to-C space for years, B-to-B companies should consider applying scientific means to a repeatable and sustainable approach supporting sales strategies to increase revenue and market share.
The opportunities to apply predictive analytics go beyond helping sales know which accounts to focus on. Sales managers can use the insights derived from analytics to build sales plans and staff territories based on the predictability and likelihood of sales. Likewise, marketers can focus their efforts on the products and markets providing the most potential, therefore becoming laser-focused in their initiatives.
Using this approach, some B-to-B companies have seen year-over-year market share growth of 30%, sales productivity increases of 50%, and business attrition decreases of up to 40%. Predictive analytics can help deliver an improved ROI on your B-to-B demand generation activities. Get started!
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