Big data has many uses for businesses in all sectors. Of all the departments in an organization, it is the sales team that can benefit most from this massive amount of data. With technological advancements and changes in consumer behavior, the sales team has to face major challenges every day. All the marketing strategies and methods that businesses may have used in the past few years are not relevant anymore. There is an imbalance of power between customers and sales professionals. While customers are learning more and demanding more, sales professionals are struggling to make an impression and create an impact.
How to maintain the balance?
Customer preferences and behaviors are changing for sure, but that is no reason for worry. The internet that has changed consumer attitudes also provides the sales team with big data, from which they can extract valuable information. The difficulty, however, is that a majority of sales professionals find this big data to be overwhelming. A survey revealed that around 82% salespeople feel challenged by the data available out there. The good news is that big data, when used properly, can solve a lot of issues that salespeople face when dealing with the well-informed customer.
Using big data to answer questions
Earlier, customers would search for a business that could cater to their needs. They would approach the salespersons to obtain details about the product or service. That is not the situation anymore. Today, the customer does not need a salesperson to know about the product or service. Whatever information is needed, from product and service features to weaknesses or flaws of the company to substitutes offered by competitors, everything can be learnt from the internet. This puts the sales team at a big disadvantage, as the well-informed customers start asking questions that they may not have answers to.
This is when they should rely on big data and the information it can provide about the customers. Using big data, sales professionals can learn about their potential customers – their preferences, their likes and dislikes, their expectations and values. This information about the prospects can empower the sales team in answering any queries that the buyers may have. That is not all. Salespersons will also be able to anticipate customer concerns and address them well before they are brought up by the customers.
Identifying profitable prospects
Not all customers are alike, meaning that they do not spend alike. Big data is the tool that sales people can use to identify their most promising and profitable customers. They can then shift their focus to them and find ways to offer better products and services that can in turn boost the company’s revenue.