Boost Sales with Data Analytics

overview

Boost Sales with Data Analytics

Today, companies focus marketing efforts on reaching their target audience through targeted communication and sales processes, increasingly customizing and improving the individual customer experience.

In a competitive and global market, the speed with which products/services are offered and promotional/advertising actions are executed is critical. Technology developments such as artificial intelligence and predictive analytics are reshaping and simplifying marketing initiatives.

Most companies conduct market research, which provide strategic guidance on improving the customer experience and customizing content.

However, predictive analytics technology takes these activities to the next level.

Let’s see how Genialcloud helps your business develop sales.

reference solution

The Self-Service Business Intelligence Cloud Solution to identify, interpret and share business information. Customized dashboards and reports, multi-dimensional analysis, and predictive modelling, to extract the most relevant insights from any data source.

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Reduce call times

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Meetings with potential customers
Advantages

How does sales forecasting help your business?

Sales forecasts allow companies to identify potential issues or risks and design appropriate corrective actions to mitigate them.

  • Sales planning

    Sales forecasting helps sales managers plan future initiatives and provides an effective business plan for managing their territory. Forecasting also helps identify the customers they need in order to meet their goals.

  • Demand planning

    Sales forecasting provides an accurate estimate of product/service demand.

  • Inventory control

    Accurate sales forecasts allow companies to better manage inventory, avoid overstocking and prevent out-of-stock scenarios.

  • Financial planning

    Anticipating sales provides managers with the information they need to predict revenue and profits. Forecasts gives businesses a chance to explore the possibilities of increasing both revenue and net income.

  • Internal controls

    Having a view of the expected production rates allows for better control of internal operations. By anticipating future sales, managers can make hiring, marketing, and expansion decisions.

  • Continuous improvement

    By predicting sales and continuously reviewing processes to increase accuracy, companies can improve all aspects of their business performance.

  • Detailed insights

    Accurate sales forecasts can help you track data and gain insights in areas where improvements can be made. In addition, it can help understand customer behavior in order to increase conversion rates.

  • Marketing benefits

    Sales forecasts allow marketing teams to base campaigns around projected needs and identify any gaps.

Build effective marketing strategies to support sales

Data analysis allows you to improve marketing performance with a consequent increase in sales.

Marketers began segmenting and profiling customers long before the advent of big data. But today, segmentation can be drastically improved and conducted at a deeper level thanks to predictive analysis.

Demographic data combined with psychographic and behavioral data, such as how each customer uniquely uses your service or platform, website or mobile app can offer critical insights into your customers. This type of information can be obtained from social media, website analytics, surveys and focus groups. When combined, your predictive analytics model will create segmented groups more accurately than it would individually.

With the information you get from your advanced segmentation strategy, you’ll be able to define buyer personas, which can be used to drive sales and conversions.
It’s no longer realistic to manually analyze all the customers in your database, let alone manually perform individual actions for each one.

Using persona and customer segmentation, you will be able to implement a more advanced automation strategy, increasing profitability.

Marketers who use Genialcloud predictive analytics to improve their strategies report higher ROIs.
When companies focus only on customer acquisition, neglecting loyalty strategies, they’ll often experience unsatisfactory sales results, as it is easier to sell to your current customers than to new ones.

Genialcloud predictive analytics offer insights into when customers may abandon your product/service based on their behavior. You can implement targeted and automated responses to prevent this from happening and provide them with incentives to stay.
With predictive analytics tools, you can discover trends and predict outcomes that help run your business with faster and more efficient decisions and implement measures to prevent potential losses.
You might get a lot of leads right now, but not every lead is qualified.

Qualified leads are more likely to convert to customers, and you need to prioritize them, but if you allow those contacts to get lost in your CRM database, you may miss your opportunity.

Based on predictive analytics, you can improve the lead scoring system.

You can target them with targeted marketing campaigns and more expensive acquisition strategies because they’re more likely to convert.
Solution

The Genialcloud business suite includes the following features:

  • Identify objectives

    Manage sales, inventory, and customers with the ERP and CRM forms. Identify the main business objectives.

  • Data collection and preparation

    Define and integrate the different data sources that will be used as the basis for the models. Genialcloud’s Analytics module allows you to import, analyze and interpret data in a simple and intuitive manner.

  • Exploratory data analysis

    Primary analyses are performed on the data in order to build models and identify insights. Your KPIs will be represented in modern dashboards, with the use of indicators, maps, grids.

  • Machine learning

    Machine learning algorithms, integrated into the Genialcloud Analytics module, allow you to build and predict increasingly advanced models.

  • Validate and test

    Evaluate the accuracy and effectiveness of the models. Because models are used to capture the current situation and predict future sales, they need to be able to interpret the right information. Use the Workflow Genialcloud application to validate templates and approve the data analysis process.

  • Communicate and collaborate

    Easily and quickly communicate with stakeholders about the results of advanced analysis models and forecasts of future progress. Model results help businesses make the right decisions.

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