This is a guest post by TARGIT Partner Anders Vogelsang Gallop from Accobat. Accobat is a market leader that provides a flexible, user-friendly CPM and BI solution based on Microsoft technology.
The most successful businesses across segments, geography, and size
have developed into being more data-driven than ever. Almost all actions and decisions successful businesses make are based upon a deep knowledge of their data and data utilization. Because business data often comes from a variety of sources – both internal and external – it can provide an overview and valuable insight into how the sales process can optimize and improve the overall commercial strategy.
Better use of data – and thereby, deeper insight – strengthens teamwork and communication across sales and marketing departments. The result: Everyone strives toward the same goals.
Use your time wisely
Data-driven sales and marketing organizations register every action and interaction they have with a lead or a client. By managing this data automatically, you can focus on utilizing data and analyzing the customer journey from campaign to sales conversion. You can use the time you save on registering and proofing sales information to analyze which activities produce the highest ROI. You can also optimize the launch of new activities by basing them on actual analyses instead of potentially false assumptions.
At the same time, you’ll gain deeper insight into your prospects’ preferences, which, in turn, will make it easier to create relevant content and ensure the best possible consumer experience. It’s also more likely to result in a conversion.
The purpose of better data utilization is, of course, to free the sales department to focus on developing relationships and closing sales.
Define the right KPIs
Collecting the necessary data is just one step on the way to becoming a data-driven organization. The next step – and the main challenge – is converting data into value. It’s essential to visualize the data you collect in a way that makes sense for the end users.
It’s equally important that a sales and marketing department’s KPIs are recognized and valued as key elements in the organization’s goals.
Often, it takes a lot of time to define the KPIs that make sense and provide value, just like it takes time to build an analysis or a dashboard with the right mix of information and notifications.
It may be tempting to design highly complex visualizations and detailed analyses with (too) many objects and too much information. However, all that hard work typically just leads to confusion and “information overload.” The best approach is to stick to simple design guides and best practices when designing your analyses and dashboards.
How do you choose the right visual display of data in TARGIT? Follow these best Data Visualization Practices.
Ultimately, what’s most important is recognizing the need to optimize the sales and marketing process. The answer is business intelligence that can convert data into actionable knowledge.
Business intelligence lets you make faster, better-informed decisions – and take action before bottom line results are affected if something goes wrong. It also leads to better customer interactions and higher loyalty.
Learn how to gain the comprehensive marketplace insights and real business benefits of business intelligence – and be prepared for anything that comes your way.