How Big Data Transforms Marketing's Impact on Sales Growth

Embarking on a Journey to Excellence Using Big Data for Sales

Guided by analytical insights about their customers, sales reps make superior decisions on which accounts to target and how to engage with purchase decision-makers. By applying predictive analytics (advanced mathematical algorithms), marketers can transform this abundance of data into deep, real-time insight about customer needs and behavior.

Courtesy of Emmett Tullos

How Big Data Transforms Marketing's Impact on Sales Growth

• See a 360-degree view of your customers and prospects: Traditional CRM is not enough ' its data is mostly limited to what sales reps have already entered. Moreover, data providers merely offer high-level external data and reams of unfiltered social data. Big Data is unique because it enables marketing to integrate and process data comprehensively from internal data systems, external sources and social media to generate customer insight.
• Act on customer insight, not more raw data: Leveraging Big Data does not mean flooding reps with even more raw data. The key is to extract meaningful, actionable insights and recommendations on when and how to engage with each account. With Big Data, marketing can empower reps to maximize their return on selling time.
• Have a 'sixth sense' when it comes to identifying opportunity: Things change: companies open new offices, win new government contracts, or increase hiring. Some of these changes may be internal ' a new financial management system, changes in the network, or the opening of a new data center. Every one of these changes is an opportunity to engage. With Big Data, marketing can be highly effective at identifying these engagement opportunities for reps.
• Coach every rep on what to say ' in real time: Most customers are eager to be educated but they need help bridging the gap between their problem (felt or unfelt) and the solutions a company offers. Yet, sales reps simply don't have time to research all aspects of a customer to learn how to be effective in every single account. With Big Data, marketing can automatically deliver immediate 'reasons to call' accompanied by relevant talking points.
• 'Social Selling' and 'Sales 2.0' become reality: Most traditional CRM providers have created hype around the use of social media in B2B sales. However, the operational usefulness for salespeople rarely exceeds a slightly better way of accessing LinkedIn or Twitter. Technology meant to analyze Big Data taps into sales reps' social networks and the network of their peers. That means marketing can make it easier to target accounts, access decision makers and tap into social references.
• Measure, learn and define true success: Understanding how each rep is doing against different types of engagement opportunities is key to improving their performance. Marketers using Big Data can easily report the ROI of their CRM efforts because they have established targeting and engagement motions that are measured down to the activity level. Measuring both the soft metrics of engagement (e.g., did the rep act on an engagement opportunity) as well as the hard metrics of performance and productivity (e.g., what was the conversion rate?) ' and adjusting the approach based on results ' is key to helping sales succeed.

In the coming weeks, we are releasing The Marketer's Guide to Spurring Sales Growth with Big Data. Follow @Lattice_Engines on Twitter so you don't miss it!