B2B E-commerce Analytics: Why Predictive Analytics is now critical
Predictive Analytics in B2B e-commerce has become decisive.
The sale of products and services via B2B platforms is on the rise. However, precisely because of the intense competition for comparable offers there, companies should automatically analyze their customer data to enable a personalized customer experience and identify churn risks.
For private consumers, buying online is ubiquitous. The Business-to-Consumer (B2C) sector is dominated by e-commerce platforms such as
How can a classic salesforce get started with predictive analytics?
In the future, it will be all about reading customer data correctly and drawing the right conclusions for customer strategy. That means a paradigm shift for the classic, contract-trimmed salesforce.
Is the classic field salesforce as known to companies and customers - slowly but surely - dying out? The digital transformation, currently the most critical driver of change, suggests this, and it has significant implications for B2B business and for internal processes.
The remarkable truth about Predictive Sales Analytics & Controlling
Is predictive sales analytics software the newest secret weapon in B2B?
No organisation will survive the next decade without harvesting the power of predictive sales analytics. However, many sales leaders in Business-to-Business (B2B) still lack the understanding of its benefits or the infrastructure they need.
Some ignore the value of their sales data, languishing unused in their ERP and CRM systems. Furthermore, B2B sales controllers are expected to gather an ever-increasing amount of sales data for their sales leaders to neglect value extraction. Moreover, there is no value in the data if it is not used to improve revenues.
How to end the war between sales and controlling
Why Controlling and Sales cannot be friends?
Conflict is unavoidable, even necessary in business. “For good ideas and true innovation, you need human interaction, conflict, argument, debate.” - writes Margaret Heffernan, an internationally renowned author, businesswoman, interviewer, and TED speaker.
Conflict will arise in any company, regardless of whether sales controlling and key account management belong or not to the same structure or share the same culture. Conflict is natural - even required. At the same time, predictive analytics is gaining in importance to avoid disputes in and with sales.
How to measure ROI of advanced sales analytics projects
Return on Investment (ROI) is one of the most popular evaluation metrics and performance measurement used in business analysis nowadays.
The ROI is a powerful tool for evaluating the performance of any financial investment, in this case, advanced sales analytics projects and software.
Predictive analytics applies mathematical methods and techniques from data mining, statistics, machine learning, and artificial intelligence to make predictions.
Predictive Sales Analytics is used nowadays in applications such as lead scoring, pricing analytics, churn risk analysis and cross-selling, among others.
Top 5 Predictive Analytics Books To Move The Needle in B2B Sales
Predictive Sales Analytics is a game-changing technology in B2B sales. Any organisation trying to rein in erratic sales funnel, to improve the performance of their sales force or to avoid customers from churning, should have a clear understanding of predictive analytics.
Sales leaders need to grasp the applications, the benefits and the limitations of predictive analytics. They should be able to define the scope of a predictive analytics project and to calculate its return on investment (ROI). Sales executives do not need to become data scientists; they need to understand the possibilities and limitations of the data science methodology for predictive analytics.