Other, Sales Performance

7 Reasons Why To Consider Data-Driven Sales Strategy

Eons have passed, when the crystal ball, instincts, and intuition would help in generating sales. Sales whether it is B2C or B2B, inevitably have advanced to the technology era, consequently, the tactics of yore are no more relevant. In these futuristic times, the cynosure of any organization is Data and Data-Driven Sales Strategy.

Data has become an indispensable asset as far as sales are considered. It can ameliorate and determine every phase of sales. Whether it is lead generation, prioritization, sales forecasting, and optimization – everything reckons with the Data. Thus, it has the potential to ameliorate sales.

Data and data analytic have the propensity to actuate the sales of any industry. It affirms, what is working for your organization, what is not working. Also, it highlights the pain points and bottlenecks of your company and oftentimes also shows the previews of the industry.

What is Data-Driven Sales?

Data-Driven Sales strategy is the methodology of collection and utilization of data, by the organization, for sales activities, processes, and decisions. It does not use raw data for any purpose. Moreover, it ascertains that your data is correct, consistent, and usable. Hence, it identifies and rectifies the errors, if there are any, in the data. Data-Driven Sales strategy requires time, effort, and collaboration.

Reasons why to consider Data-Driven Sales Strategy

1. Improves Your Lead Generation
Data-Driven Sales will statistically and authentically help in a Lead generation. All the companies require sales lead for survival at some juncture or the other. Data-Driven Sales emphasis on data usage for lead generation. Also, it exhaustively covers all the determinants in lead generation.

2. Customer Personalization
It elicits the impeccable amalgamation of data, technology, and strategy, for prediction and personalization. It aligns data to create the customer analytic and personalization which in turn leads to information of customer segmentation models. Data analysis identifies the segmentation through statistical exploration of relationships among different variables and behavioral affinities. In short, the real-time behavioral data gives you transparency and also actionable insights.

3. Data-Driven Lead Prioritization
Lead prioritization severs the quality leads from ineffectual ones. Its emphasis is on the qualified and quantified leads which have more probability to be closed. Prioritization is very crucial for the success of any team. Based on the data about how a prospect is interacting and responding with customer engagement, you can prioritize the leads.
Similarly, lead scoring and lead prioritization function conjointly for accurate forecasting. This gives a panoramic view of the leads, opportunities, and follow-up.

4. Sales Optimizing Through Data-Driven Process
Sales optimization is the process of analyzing the sales process to ascertain which procedure is prolific and unpolitic. It diagnoses the previous process and interactions to prognoses the sales team’s performance. It pinpoints which activities lead to more sales conversions so that you can structure your sales process based on it.
Therefore, Sales optimization is a going process, you keep improving with the changes in the industry and technology.

5. Lead Scoring
Lead scoring is a methodology to determine the worthiness of leads, by identifying a calculated value to each lead. It is based on the behavior pattern and interest of the customer in your products and services.
Lead scoring allows you to use demographic and behavioral data to place a numerical value on your contacts and prospects. So that you can use that data to prioritize your marketing and sales efforts.

6. Customer Lifetime Value

Customer Lifetime Value is a pivotal barometer to determine the cost of acquisition and anticipated repeated business of an organization. The efficient way of quantifying and broadening the Customer Lifetime Value is by upselling and cross-selling. It generates customers’ insight and opportunities. Thus, it is one of the main concepts based on which the business decisions are taken.

7. Reduces Churn
It surmises and garners customer empathy and customer behavior, to predict the developments, antecedents to churn out. It also provides remedial suggestions to retain the customer.

Data-Driven Sales Strategy A Reality

Don’t leave anything to chance or speculations. Make achieving the sales targets and acquiring new customers a habit. With Toolyt this can be a reality for you. With the presence in more than 20 plus countries and vast experience working with different industries, Toolyt can help in transforming any prospects into successful leads. Toolyt, as leaders in Automated SalesForce Solutions, can make your sales process easy and seamless. Toolyt can automate the sales tasks as per your company and industry requirements. Not only does it guide you through the entire sales process. It also tracks and transcribes your relationships with customers and competitors.

This user-friendly mobile app is always with you when you need it most. Toolyt is an extension of the CRM system suitable for any industry. Intrinsic alters and reports to the Management will give the prevision of the industry, happenings, and preparedness for better sales strategy. Secondly, Toolyt can be integrated with any existing system you are using at present. Thirdly, it gives a divine meaning to the sales team, it is not just sending emails and messages, it is far beyond that. Finally, being a part of Toolyt’s journey is the first step towards success.

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