Predictive Analytics in B2B Sales - What it is and how to get Started
Predictive analytics technologies are becoming increasingly popular and are already being used today, especially by wholesalers and manufacturers in business-to-business (B2B) sales.
Perhaps you have already made some elaborate attempts to implement predictive sales analytics with Excel or other spreadsheet programmes. Then you've come to the right place.
Predictive Sales Analytics is a modern technology to look into the future of your sales. Using machine learning methods, Predictive Sales Analytics allows you to make accurate sales forecasts: Customer churn forecasts, cross-selling forecasts and dynamic pricing.
Why AI-based B2B Sales Forecasting is Important and Still Fails
Do you want to realize your potential in B2B sales and be more successful than the competition? Accurate AI-based b2b sales forecasting is an insider's tip - right?
To help you understand what you should know primarily about b2b sales forecasting, I will quote Editor-in-Chief Michael Gilliland, who has published several articles in "The International Journal of Applied Forecasting."
"Our forecasts are never as accurate as we would like them to be or as they should be. The result is a great urge to throw money at the problem in the hope that the problem will go away. There are many consultants and software vendors out there who will scoop up the money in exchange for promises to improve forecast quality, but those promises still need to be fulfilled. Many organizations, perhaps including yours, have spent thousands or even millions of dollars on the forecasting problem, only to end up back with the same lousy forecast."
Sounds very motivating. The quote does not mean to be an introduction to an anti-forecast article, but it reflects the reality in many companies.
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.
Predictive Sales Forecasting: Answers to 5 Questions of Salespeople
Why should we use predictive sales forecasts in sales? This article is aimed at anyone thinking of using AI for more efficient sales planning and sales management.
Every Saturday morning, Mr. Meier visits the magazine store around the corner to buy the weekend edition of his favourite newspaper. This has been going on for half a year now. The saleswoman knows Mr. Meier by now, and because he stops by every Saturday, she always addresses him with the same question as soon as he enters her store: "Good afternoon, Mr. Meier! The weekend edition, as usual?"
For Mr. Meier, buying his newspaper on the weekend has become a ritual. It's a pattern that repeats itself every week. The saleswoman has recognized this pattern and addresses Mr. Meier about it, almost automatically.
Lead management top, customer management flop?
How can your B2B sales team take fact-based decisions faster using your CRM and ERP data?
B2b companies are investing in modern lead management. The focus is on the online channel.
Modern lead management with a well-thought-out lead strategy, consistent lead evaluation and prioritisation and powerful tools ensures that marketing resources are used efficiently and effectively in marketing.
What happens once leads have become customers?
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How to Drastically Improve Margins in Industrial Distribution with a Predictive Sales Software
Predictive Sales Analytics helps increase customer lifetime value in B2B distribution.
New customer behaviour and innovative technologies are having an impact on wholesale and distribution businesses worldwide. Manufacturers looking for more efficiency and customers demanding omnichannel experiences at the lowest price push companies to their limits.
The addition of these disruptive forces, partially enabled by new technologies, means substantial margin pressures.
Predictive Analytics & Controlling - How to use it in B2B Sales
How the sales analytics tools you use impact your sales controlling.
Controlling sales in B2B is increasingly becoming a high-tech game. Since selling cycles in business-to-business are getting longer and sales is getting more expensive, controlling need to look further into the future.
Machine learning, a well-known example of weak artificial intelligence, represents a fantastic opportunity for improvement in B2B sales controlling and business intelligence. It enriches the world of sales analytics with a substantial competitive advantage.
What You Need from Sales Reporting Software Today
Sales Reporting Software: a critical tool for efficient sales management and control in B2B.
Reporting sales has become a fact-of-life for B2B sales managers. Selecting a sales reporting software can make or break any sales operations. Companies can no longer underestimate its importance.
The sales reporting should include the most critical key performance indicators (KPI) of the sales force. You should reduce the number of KPI to the minimum possible.
Qymatix Selected for the Official German Accelerator Program
Karlsruhe, 28.10.2020. The German Accelerator has selected Qymatix Solutions GmbH for its namesake program. Some well-know startups that took part in the accelerator are: Celonis, Data Virtuality, BrandMaker, Shopgate, and N26.
The Federal Ministry of Economics (BMWi) supports the German Accelerator and chooses companies with high international growth potential.
The aim of this program is to support promising start-ups to enter international markets. A faster and easier entry in new markets is a great chance for fast business development.
Qymatix Solutions GmbH has now access to the wide network, partners and investors of the German Accelerator.
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.