Sales analytics and digital analytics are essential to driving sales

People are at the core of every sales business. There are people driving sales, there are people making sales, and people making the purchases. The key to a high-performing sales business is to leverage sales analytics and align people, sales, and profit sustainably.

Startups and growing businesses rely heavily on continuous engagement with their customers. Interacting and building relationships with your customers is critical to gaining insight into their needs.

In a constantly evolving marketplace, particularly in 2020, sales analytics empower you to change with the times and with your customers, never losing out.

In an article titled “Data must go viral”, Head of Data Science at ANZ, Mohadesh Ganji explains how sales analytics have aided the COVID-19 response, writing: “Organisations have used data to understand what the changes in market, workplace and lifestyle mean for their business, risk appetite and employees.” Insights like these are priceless in a contemporary marketplace.

Here are some of the ways sales analytics drive sales and empowers you to roll with the punches:

1. Understand Who Your Customer Is

Sales analytics empower you to segment customer data. You can divide customers according to gender, age range, location, shopping habits, etc. Segmentation allows you to create marketing messages that resonate with specific segments much better. It also helps identify which segments are most profitable, thus helping you direct marketing and advertising budgets.

2. Improve Product Development

Gathering and analysing survey data and A/B testing helps ascertain what works for your customer and what doesn’t. You can develop better products, in less time, and using fewer resources with high-quality customer feedback.

Customer data of this variety identifies growth opportunities. Additionally, it points out areas for improvement within your business practices, product, or levels of service.

3. Retain Existing Customers

Within a fickle marketplace, it is much easier to retain existing clients than it is to acquire new (loyal) ones. With good sales analytics, you remain agile and adapt to your customers needs and wants. In this way, you gain more of their trust and retain their valuable business.

Sales analytics can drive sales only if they’re transformed into sales tactics. In other words, you need to translate your valuable data into actions that affect your business.

For advice on how to implement effectively sales tactics and continue to grow your business, you can stay tuned to the Vollardian blog for more informative sales and business consulting articles. Alternatively, you can contact us directly to discuss your needs and how we can help you meet them.

After all is said and done, we are all just trying to succeed at something we put our minds to. We’ll continue to share useful sales insights and business advice with you to help you adapt to the ever-changing environment. We love this anonymous quote that goes: “Be willing to change, because life won’t stay the same.”