Selling to existing customers reduces the costs associated with acquisition strategies
Existing customers hold untapped sales potential that can easily drive up conversion rates at a much lower cost than new customer acquisition. Successful cross- and upselling strategies are built on deep customer knowledge. When you can identify customer needs and wants you are able to continually offer them new or improved products and services they are likely to buy from you, rather than from someone new.
Tap the Full Potential of Existing Customers
- To stay competitive, portfolios must keep pace with the changing needs and wants of customers.
- Overspend and inefficiency arise when companies cannot accurately identify client-product and product-client opportunities.
- Maximizing the value of current customer accounts requires a deep understanding of customer needs, wants and behaviors.
- Customer Profiling. Identify the behavioral features of customers who buy certain products and tailor cross-and upsell offerings.
- Purchasing Knowledge. Track purchasing paths and keep carts full with additional or alternative products.
- Efficient Campaigns. Determine the best channels and times to communicate with your customers.
- Association Rules. Use data mining techniques to identify associations between products, do basket analyses and create products matrices.
- Accurate prediction. Use advanced analytics to predict customer-product opportunities.
- Automation. Implement cross- and upselling strategies systematically with Big Data Analytics Workflow.
Why Big Data Analytics
- Increase sales and ensure growth in mature markets.
- Minimize new customer acquisition costs and gain efficiency by effectively selling to the customers you already have.
- Offer your customers what they are likely to buy next, before they begin shopping the competition.
- Improve loyalty and let existing customers bring in new customers.
- Detect deviations and areas where conversion can increase and respond quickly.
- Analyze large, heterogeneous volumes of data quickly and easily.
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Improve Sales Team Productivity and Results
To get the most out of company data, teams need to easily integrate data from multiple sources. Sales teams need to identify the right prospects, routes and channels so they get better results with less effort. Market trends and competitor tactics must be identified well in advance and incorporated into strategies
Activities most likely to bring results
Big Data Analytics helps optimize sales departments by giving them the analytics and workflow tools they need to streamline processes and direct efforts to the activities most likely to bring results. Data coming in from multiple sources, like CRM, WEB or SOCIAL is integrated seamlessly and ready for analysis with easy-to-use tools that identify high-value opportunities.
Companies get full visibility of team productivity and can see what needs improvement and can systematize the practices that increase performance.
- Workflow Visibility: Define sales metrics that measure the effectiveness of sales efforts and integrate improvements into the workflow
- Fast Data Integration: Integrate multi-format data from all your internal and external sources. No need for pre-processing or creating models, cubes or metadata
- Market and Rival Analysis: Design strategies based on market trends to stay in front of competitors
- Better Sales Results: Use profiling, predictive analytics and micro-segmentation to identify high-value opportunities and design effective campaigns
- Low Total Cost of Ownership: Immediate implementation with minimal hardware, training and maintenance costs
Why Big Data Analytics
- Maximize the value of company data
- Improve sales efficiency, productivity and results
- Lower hardware, operational and maintenance costs
- Immediately identify opportunities and match them with the right channels and offers
- Stay on top of trends and deliver faster than competitors
- Systematize best practices and automate workflows
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"Big Data Analytics enables our customers to find hidden information in their data. All they need to do is combine their own business smarts with Big Data Analytics's innovative advanced and predictive analytics techniques. Big Data Analytics gives business users the power to perform predictive analyses without complex mathematical models." Fred Veldhuis, Managing Director, CPM Factory
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