Why is internal data considered more reliable and easier to collect than external data?
Simply explained: Why internal data is better for predictive analytics in B2B.
Companies use sales forecast to make business decisions. They also employ them to predict future developments better than their competitors. However, reliable predictions are rare, and sales teams try to play a safe card by applying external forecasts. Companies are nevertheless better off using their in-house data - with predictive analytics.
"There are three types of lies: lies, damn lies, and statistics." This quote from Benjamin Disraeli, a British statesman and 19th-century novelist, fits the situation in companies very well.
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Sales Psychology: Why Manipulation is Out in Sales
B2B customers, in particular, are highly informed today. Salespeople should therefore think and act in a demand-oriented way.
The basis for this is customer and sales data. They show how customers currently feel about the company and what future sales opportunities there might be. Hard selling and manipulation in sales have no place here.
In principle, we have all experienced manipulation at some point. Manipulation occurs in everyday life in many ways and can refer to different things.
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Digital sales: Your future tasks
As sales becomes increasingly digital, the question arises: What tasks can sales managers focus on in the future thanks to modern data analysis software?
Data, data, data. The modern "currency" in companies is also changing the tasks in sales.
It is common for sales managers to know that they should use their customer data effectively due to the competitive pressure emanating from the megatrend of digitalization. But how?
Artificial intelligence for SMEs: 5 tips for implementation
A thought-out introduction and the appropriate use of Artificial Intelligence (AI) can bring SMEs real added value.
When implementing AI or AI systems, SMEs should not rush into anything. The opportunities must also be recognized and internalized by employees. After that, you can introduce AI with a clear roadmap and the use of relevant data.
Investment by European startups in artificial intelligence (AI) is rising sharply. That is the conclusion of a recent study by management consultants Roland Berger. According to the survey, investments in the European AI ecosystem grow by up to 50 per cent annually. In 2019 alone, 218 artificial intelligence companies were founded in Germany.
Why predictive analytics for CRM is not a magic ball
Learn what predictive analytics in b2b sales can and cannot do.
Predictive analytics enables companies to determine forecasts and probabilities of occurrence from customer data - you can visualise these forecasts in your CRM (Customer Relationsship Management System). The result is, for example, a sales target that you can probably achieve. However, many people make a mistake when interpreting these results.
In another blog article, I already described that managing directors and sales managers would like to know why certain events occur or not, why specific customers churn. Why one product does not sell or sells more difficult than another. Why a promising lead does not turn into a customer in the end and remains a non-binding contact.
Cloud based Sales Software: 4 important aspects of IT security
This article is the second part about cloud based software. In the first part, the advantages and disadvantages were highlighted. Now we will talk about security.
Anyone who obtains sales software from the cloud cannot avoid security-related aspects. In this article, we highlight four security solutions that companies should consider when using the cloud.
To stay competitive, many companies are turning to data-driven business models. That means that the amount of data is growing exponentially. By 2025 alone, Microsoft predicts that the amount of data produced will be 175 zettabytes. A zettabyte is a billion terabytes.
Why AI-based sales software is cloud-based
Trend in B2B sales shows clearly towards expanding services from the cloud.
The Internet has long since ceased to be just a means of communication. Companies today obtain a wide variety of software and countless services directly from the cloud. B2B sales can also benefit from cloud-based AI software.
The development of cloud computing began around 60 years ago. To understand what was going on at that time on a technical level, you first need to detach yourself mentally from what we know today by a cloud - or cloud computing.
Social Selling: Why B2B sales must rethink
What is necessary to actively and adequately pursue social selling in social media?
Salespeople will become more consultants, networkers, and influencers, due to increasing digitalisation in B2B - a fact of life.
The times of pure "order-takers" are over. However, do salespeople understand what is necessary to actively and sufficiently pursue B2B social selling?
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Predictive Customer Analytics: From customer analysis to customer value
Customer analytics with predictive analytics can provide valuable information for sales activities.
Do you really know your customers - and not only the large-scale customers? Successful Customer Analytics should provide you with all the critical information about your customers. What are their preferences? How do they shop?
Using customer data, predictive analytics can determine individual opportunities for offers and subsequently determine the value of a customer.
B2B-Trends 2020/21: The Top 6 in Sales
Whether digital platforms, AI or chatbots. In the future, B2B sales must deal with these six critical trends.
Experts guess every year what the next hot B2B trends will be. Artificial intelligence is on the main scenario now, for B2B sales and its future development potential.
We have looked at several studies and sources and have summarized the top six you should know now.