You’ve heard of the importance of collecting data points to support sales and product development. While many organizations have implemented data collection, most of them are only using a fraction of available data.
You’re probably in the same predicament as most companies: what can you actually do with all of the data you collect?
A data strategy is meant to cater to goals like:
- Better service for customers
- Better outcomes for sales and product
- Lower costs for the organization
- Workforce sustainability
In what ways can you achieve these goals? Consider these data techniques that improve product and sales team workflow.
Leverage Existing Integrations
Most sales leaders use a Customer Relationship Management (CRM) system and Marketing Automation Platform (MAP). However, most organizations fail to use both the platforms in tandem to make better product and sales decisions.
Each one has its strengths:
CRMs are sales-based, which means the communication channels tend to focus on sales and buyers:
- Contact information
- Communication volume insights
- Medium of preferred communication
MAPs, on the other hand, are marketing-centric, which means it can reveal patterns about:
- How buyers are interacting with marketing materials
- Which pieces of information are the most read
- Which marketing collateral triggers an action
Combined, CRMs and MAPs are a power tool. They allow you to:
- Centralize outreach efforts to make it easier to analyze and distribute updates within an organization
- Store a client’s history for cross-departmental use. This makes customer service stronger and reduces the number of conflicting communications with customers
- Create stronger personas, or individual customer profiles, for targeted marketing efforts that appeal to a client’s specific needs
- Consolidate user information like emails, social media handles, and telephony integration for phone calls and recordings for marketing campaigns
Tying these two information-rich systems together gives both marketing and sales the data they need to make informed strategic decisions and improve their workflow.
Make Collaboration Easier
We recently worked with Hilton Hotels & Resorts’ food and beverage department, Flavors of Hilton, which was struggling to communicate data-driven decisions to their large labor force spread out across the globe.
Flavors of Hilton piloted one of our customized apps to help coordinate their knowledge base. As a result, the Flavors of Hilton led to a faster distribution of department updates and changes to menu items like food and cocktail recipes.
The sales enablement app also fostered a new sense of community of collaboration — employees have a portal to share ideas that can advance the company’s products and improve their workflow.
Align Sales and Marketing
The goal of your marketing department is to create, distribute, and deliver content that will engage buyers. From there, your sales team should be able to easily access and leverage the knowledge to prospect and close more deals.
According to data from MarketingProfs, organizations with tightly aligned sales and marketing functions have 36% higher customer retention rates and 38% higher sales win rates.
Sales enablement tools help sales to provide qualitative data like:
- Real-time prospect reactions to products
- Customer feedback undetectable through surveys or buying patterns
- Personal engagement with your base
As sales has an easy way to report back, marketing can act on the insights and prepare new customer-centric collateral to:
- Refocus brand awareness
- Provide product updates
- Update sales scripts
Fastmore, the delivery and logistics service, is a prime example of how data can improve product execution. Fastmore was spending too much time on their manual process. Employees were calling or texting drivers to check on a delivery status and depending on drivers to email or fax bills of lading after routes were completed.
The more manual effort required, the more room for error, Fastmore noticed.
Fastmore decided to leverage both technology and data to improve their business model. They piloted a sales enablement app to allow their workforce to:
- Alert when a route is started
- Update route progress
- Confirm deliveries
- Upload receipts
- Message admins
- Send route alerts
The real-time insight into transport status decreased errors and streamlined communication, making their workflow more productive.
Get to Know Your Customers Better
For your frontlines to gather intelligence, marketing needs to analyze conversion funnel. How is their current effort translating to bottom line growth?
Analyzing the conversion funnel means tracking content metrics like:
- How many times a piece of content has been accessed
- How well received it is by the consumer
- If it’s being used correctly
- If the message can be adjusted at any point of the journey
These metrics can help your marketing team create more meaningful and usable content for a buyer.
It’s not about the plethora of data available, it’s about how you’re able to integrate it in an actionable way.
What tools do you have to make it easier to handle real-time data? With a robust data strategy, you can optimize the workflow for your entire team, while keeping your client’s interest at heart.