What is sales intelligence?
Sales Intelligence is a strategic, systematic approach that collects and uses customer metrics to formulate data on historical and current sales activities in real time. Emphasis is not placed on direct growing sales, but on increasing the efficiency and overall productivity of the sales department. Customer data and prospects are collected at many touch points and are stored in the database. The touch point occurs when customers come to the brand sphere. This data can be extensively analyzed and correlated with previous and current sales campaigns to reveal information about demographic and individual shopping behavior.
Sales manager can use collected data to connect the historical behavior of customers with products or services that customers have purchased. The information collected is then intensively analyzed, usually continuously. Revealed patterns of customer behavior are used to increase the productivity of the sales department. For the example, collected salesIt can reveal that those customers who bought a product A are more likely to buy product B during the six -month period. The first preliminary sales opportunities through real -time data increase efficiency.
Business staff can also generate lists of customers whose purchase activity has decreased in a certain historical time window. This information would then be handed over to the employees of the Sales Department who would subsequently ask the customer through a phone call, e -mail or survey. Increasing contact opportunities with previous customers can be reactivated by existing channels. The selling channel is a segment of prospects or customers who share certain demographic or historical behavior. At the same time, new channels can be discovered by analyzing past sales that reveal the connection inside the data that can point to new prospects.
Data STREaming in real time can be used in sales intelligence. The use of real -time data allows sellers to quickly identify and respond to the emerging opportunities for cross -sales or upsell. These automated sales processes in sales news are also used to manage customer relationships and channel management.
Sales intelligence is one aspect of integrated business planning. Further gathering of business intelligence information relates to market analysis, supplier pipeline analysis, macroeconomic conditions that would affect consumption formulas, competitors' analysis and many other areas. Through data analysis, business is better placed to predict the future operating environment and thus quickly responds to emerging opportunities and threats. An example of how data analysis could be used would be to decide to set up an advertising campaign that fails, based on historical sales data.