Define and reduce customer attrition in the subscription industry
What is customer attrition in the subscription industry?
What is an average churn rate? B2B companies can expect an average annual customer churn rate of around 11%, a recent study found.
This cancellation rate fluctuates between countries and industries. Customer attrition can represent a 24 % average in office supplies, 16 % in the insurance industry and 13 % in banking.
Five Mistakes in the Implementation of New Technologies (AI) in Sales
Introducing new technologies for B2B sales is not always easy. In this article, you will learn which mistakes you should avoid.
Joachim Meyn has many years of experience in B2B sales and has managed many projects in the area of CRM implementation. The following five mistakes when implementing new technologies are based on his experience.
This article is closely linked to my article on the acceptance of new technologies in sales.
This article applies not only to introducing new technologies in sales but also to introducing significant innovations or restructurings in all departments. In many companies, such processes run pretty smoothly, while in others, problems are on all fronts, and resistance is forming everywhere.
Why You are Not as Successful as You Think - Cognitive Biases in Everyday B2B Sales.
Do you f.e. know the "egocentric bias"? What perception disorders influence your (mis)success in B2B sales?
I'm pretty sure you won't like to hear some of the things in this article. However, my advice to you is: open your eyes and get through it! It will be worth it for you...
How To Achieve Acceptance of New Technologies in Sales?
Joachim Meyn worked in sales for many years and reports here on his experiences and learnings about the introduction and acceptance of new technologies in this area.
From the title, one could now deduce that sales has a problem with the acceptance of new technologies. But, new technologies and innovations are not accepted differently in sales than in other areas of the company.
In general, however, it must be considered here that Germany - like Austria - generally belongs to the so-called "late adopters.” In other words, new ideas and/or technologies/innovation are generally adopted more slowly and later than, for example, in the Anglo-Saxon countries. One can also say "when the whole thing has matured".
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Will Artificial Intelligence be Picasso of Tomorrow?
Can Artificial Intelligence be creative?
The cover picture shows the faces of four people. One person does not exist - artificial intelligence (AI) created it. Can you guess who? Number 1, 2, 3 or 4? Read the article to the end and we will tell you.
Today we stray a bit from our usual focus on modern data analysis with predictive analytics and B2B sales. We dedicate ourselves to the question of whether artificial intelligence can be creative.
How to use Predictive Analytics in your CRM for Truly Data-Driven Decisions?
Successfully implementing Predictive Analytics for data-driven decisions in your CRM requires more than just software.
Every successful sales team wants to become data-driven. Companies that successfully execute predictive analytics in their CRM are easy to identify.
They take care of their salespeople and successfully utilise their current data and processes. They employ the standard software and adapt them to their situation. Finally, they introduce Predictive Sales to CRM step by step and learn from their experience.
Your Sales Role Defines your Customer Analysis Needs
Tell us what your function is and we will tell you what kind of sales analysis you need.
Sales Manager
Your role is critical to the success of your business, but it is typically one of the least understood roles within a sales structure. Sales Managers play strictly a management and not a “super-salesperson” role and are responsible for critical decisions of hiring, coaching, controlling how your sales team performs, while engaging also in other strategic areas of their business.
In this role, you still need to help your sales team to spot opportunities with existing B2B customers.
Fifteen questions you must be able to answer as a sales manager without hesitating
Sales Management in B2B is an ever-evolving discipline. The job has been rapidly changing over the past decade, and there is no stop in sight. New technologies emerge, Millennials hit the workspace and markets get disrupted.
Dynamic markets are nothing new. Technology, tools and analytics for B2B sales have invariably been moving forward during the past years. A new generation of sales representatives starts the job profession with different skills and expectations. Sales leaders need to answer what value can each new technology provide to their B2B sales organisation.
Cooperation Between Sales and Telemarketing
What does optimal cooperation between field sales and telemarketing look like? Is it still possible today?
In this article, you will learn about the nine important conditions for telemarketing and field sales to work together optimally.
The following conditions for good cooperation apply to external telemarketing agencies, freelancers in the field, and internal departments alike.
But now to some structural explanations:
What is a Predictive Score Model in B2B Sales? How Can You Create Yours?
A predictive score model is a formula to calculate a probability.
There is a 70% chance that you will read this entire article. How do I know this? Because I used a predictive score model. The score is the probability of you reading to the end of the article (or one minus the likelihood that you will not – the exact opposite).
My example in the paragraph above is a well-known application of predictive analytics in marketing. The most common examples in business-to-business (B2B) sales are lead scoring, churn (or customer attrition), cross-selling, and pricing.