Improve Your Sales Outcomes by Using CRM Predictive Analytics

Organizations typically utilize multiple sales tech software to bring in more customers. However, having more of these tools doesn’t necessarily equate to more products sold. Sometimes, the only thing that your sales and marketing team needs is the right CRM system and its predictive analytics to secure more deals.

So how can CRM predictive analytics boost the company’s sales outcome? By discovering qualified leads, organizing prospect contact, tracking call outcomes, proving better product prices, and retaining more customers, the secured sales of a company may increase steadily thanks to CRM predictive analytics.

What CRM Predictive Analytics is and How it Can Improve Your Business

Customer relationship management (CRM) software serves as the anchor for the sales team in an organization. In 2019, around 74% of businesses in the country utilize CRM for better access to their customer data. However, most of these businesses are not aware of the full capabilities that the right CRM software can bring them. Most CRM software feature AI-informed predictive analytics which can help the organization boost sales outcomes.

Predictive analytics is simply the utilization of historical data on customer behavior to create a more accurate prediction of future results. Thanks to machine learning and other technology like CRM software, predictive analytics can parse more data and produce more accurate predictions without requiring long manual processing hours.

There are several predictive analytic theories out there, but only three of them can help you create smarter decisions about improving the sales in your company.

3 Types of Predictive Analytics

1. Sequencing

This type of business analytics is about analyzing the probability of a potential customer buying the product if they perform other actions. For example, if a person downloads a whitepaper and clicks a pricing page, what’s the possibility that they will buy the product too?

The concept of sequencing came from the works of A.A. Markov, a Russian mathematician. His works about probability theory state that an action is equally likely to happen if the two previous actions occurred first. All you have to do is observe the historical patterns of actions A and B to predict the likelihood of action C happening.

2. Cross-Selling

Cross-selling utilizes the analytic data to predict what companion products a buyer may purchase. The best example of this predictive analytics is the “frequently bought with” suggestions – an effective marketing strategy found in online selling sites like Amazon.

This strategy has a higher success rate for existing customers than potential ones. Using the key customer data collected by the CRM, it’s easier to analyze their buying habits and suggest companion products whenever they visit a pricing page.

3. Lack of Action

While the first two types are about interpreting the existing data about a customer, lack of action focuses on the behavior of the customers that have stopped buying from the company. One of the possible reasons why a customer’s communication with a brand wanes is due to an unsatisfactory product or service. By identifying the cause of their dissatisfaction, it’s possible to reach out and save the relationship.

CRM is helpful in this case because the software can analyze trends or patterns that you can use to create a “fall-off” model. By combining the pattern collected in the “fall-off” model and the sequencing data, the team can identify which buyers are likely to buy the product.

5 Ways to Boost Your Sales with CRM Predictive Analytics

Predictive analytics has become widely used by different companies and organizations because it is an effective sales strategy to boost sales outcomes. Here are five ways that CRM predictive analytics can help your business grow:

1. Discover Qualified Leads

Lead scoring is a practice that’s much older than machine learning or predictive analytics itself. It’s the method of determining which among the potential buyers are likely to purchase the product using luck, guesswork, and spreadsheet data. But with the recent advancement in technology, lead scoring has become more accurate and less time-consuming.

CRM predictive analytics allows the sales team to determine which among the interested parties can become customers, as well as how long they can continue buying from the brand. By identifying which potential buyers to focus on, the team can dedicate most of their time and efforts to fruitful transactions.

The predictive analytics today can allow the team to access important information about the buyer, such as how similar the product is to the customer’s needs and how far a potential customer is from buying the product. It can even predict which member among the sales team is likely to secure the purchase.

2. Organize Prospect Contact

Analytical solutions like CRM predictive analytics allow team members to have more productive transactions. With the right information, agents will have to spend less time on the wrong transaction.

The right information can advise the team which customer to call and when it’s best to call them. CRM predictive analytics analyzes the information about the potential buyer, including the number of calls needed before a conversation is reached. It also includes data such as email open rate and length of sales talk time from past interactions.

These kinds of information help the sales team form a strategy and the marketing team plan a campaign while reducing administrative tasks and increasing contact time with the prospect. – Read More

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Which Server Solution Is Best For High-Traffic Websites?

When you come to catalyst2, you have the opportunity to collaborate with a company that, thanks to twenty years of experience, has a keen understanding of this particular field. Being providers of top-tier UK dedicated servers means that unlike some of the other data centres in the country, we can offer insightful advice on the best course of action. Should you wish to educate yourself further on this matter, feel free to familiarise yourself with the words of wisdom imparted by our experts below.

Flexible Server

The moment that you start your company, you will undoubtedly be looking to try and enhance the way that you attract new customers – this is particularly true of those firms which are competing against a saturated market. Some of the other options, whilst technically superior, can take an extended amount of time to set-up, hence why you may not pay them much heed. However, there are ways in which to get around this; case-and-point, flexible servers are seeing their popularity spike, and it is not difficult to see why.

Many people believe that the most important advantage associated with flexible servers is the fact that you can create a bespoke agreement which adequately caters to your needs. This is a service which does not force you to continuously pump money into a service which does not directly benefit you. The contracts are a minimum of one week, meaning that you can use this service as a type of stop-gap prior to entering into a long-term deal. These offers are dedicated to those companies which are perhaps struggling to determine the direction that they are going in.

Unlike the majority of the other options listed below, what allows the flexible server to stand apart from the rest is the fact that you can continuously adapt and change. If you are thinking that more could be done to improve your campaigns, you can request that your assigned technicians pay closer attention to the typical accomplishments of your website. This type of information can serve to provide insight into what needs to be improved.

Cloud Hosting

In recent years, you may have noticed the fact that there have been significant advances in our technical capabilities. This can be seen in various aspects of modern-day life – from the smartphones that we use on a daily basis, to the compact-yet-powerful laptops which we utilise, the changes are evident. The evolution has also impacted the manner in which people host their business websites – one such innovative change has come in the form of cloud-based systems.

In essence, this is a service which looks to minimise the expenses of smaller corporations, whilst not impacting the way that their websites run. In times gone by, the only option for you would involve storing your data on a piece of physical hardware – these types of services are still available, as you can see from the other options listed.

There are few services in the modern technical world which can match the level of cyber security which is apparent in cloud-based systems. Due to the fact that they are based solely on the internet, without adequate protection they would be targeted by those with nefarious intentions. Not only will state-of-the-art firewalls be in place, but virtual LANs mean that sensitive client data cannot be accessed by unauthorised parties. Problems relating to malware will not be something that you will lose sleep over, and you can be sure that this will probe to be invaluable. A little-known fact that will also put your mind at ease is that you are capable of integrating bespoke software that has been designed in-house. – Read more

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5 Tips for Improved Productivity This Winter

Productivity doesn’t have to suffer when bad weather hits. Here are 5 tips to improve employee productivity this winter.

Winter may conjure up imagery suitable for a Norman Rockwell painting: gently falling snow, cozy indoor gatherings, and a parade of holidays. But the cold hard truth is that the business impact of winter weather is anything but idyllic.

Winter storms have a history of wreaking havoc on the economy. According to the National Oceanic and Atmospheric Administration (NOAA), winter storms in the U.S. resulted in $3.3 billion of damages and 33 deaths in 2018. But it’s not just companies in the path of those epic nor’easters that need to take heed. The Arctic blast that swept across the nation in November 2019 affected more than 200 million Americans as far as the state of Texas.

You can’t fix the weather, but you can prepare for it. Having a plan in place ensures that your employees from across the company, remote or onsite, know what to do when bad weather hits. Depending on how your organization is structured, you may have a skeleton crew who has one set of instructions to follow during the office shutdown, executives with a different checklist, and local employees with completely different expectations.

Picture of snow-covered road

Winter Weather Preparedness ChecklistDownload our checklist to assess your organization’s readiness for winter threats.DOWNLOAD NOW

5 Simple Tips To Improve Productivity This Winter

If you want to improve your productivity this winter, follow these tips. Your employees will thank you, and your administrators, managers, and business leaders will appreciate the forethought.

Tip 1: Keep contact information updated

We all know that when an emergency arises, we want information and we want it now. Companies should take the time to make sure they have up-to-date contact information. Relying on an outdated employee directory that can only be accessed from an office computer doesn’t help anyone stranded at home.

Instead, use an integrated communication system that can target important messaging to specific audiences. Notifications can be sent via multiple channels, including push notifications, texts, emails, voice calls, and even social media. No matter where your employees may be, you can be certain they receive the information and have a way to respond. They will be able to get back to work more quickly, putting less of a dent in that productivity stat.

Tip 2: Stay in the know

Weather can change in an instant. As an office administrator or safety director, it may be up to you to determine whether or not the road conditions are safe for your employees to use. Don’t assume your employees are watching the local news feeds. Don’t rely on hearsay, either. Your employees need to hear it directly from you.

Set up weather alerts to help you make real-time decisions about road conditions, then communicate your decision rapidly across multiple communication channels using an emergency communication system. Your employees will receive a text, push notification, email, and/or phone call notifying them of road conditions, modified business hours, and even a phone number they can call with any questions. As the weather conditions change, send updates to keep employees informed throughout the event.

Tip 3: Be ready to make decisions

Before and during a weather event, business leaders need to be in constant communication to be on the same page. It can be challenging to get every stakeholder on a phone call and emails are grossly inefficient. There’s no way to ensure everyone received and read the email, and tracking all the responses can be a challenge.

The first step is to develop a list of roles and responsibilities per person–who will be assigned as lead communicator, decision-maker(s), point person, etc. This list should be developed well ahead of any threat of bad weather. Once the storm hits, you want everyone to know what they need to do. Use a communication system to keep everyone connected to quickly collaborate on decisions. AlertMedia can even set up a conference call among key stakeholders with just a click of a button. This can be especially useful if you need to have a brief conversation to discuss whether to close the office. Compared to a back-and-forth email chain, this will save precious time when you need it most.

Tip 4: Have resources ready

Part of the planning process is to have the actual plan ready before the event occurs. Anticipate every potential scenario. What if the roads are impassable for one day? For three days? What if the power at the office is interrupted? Or what if some employees can make it to work and others can’t? What if employees can get to work but all of the schools are shut down?

Work through these different scenarios so you aren’t scrambling when the ice begins to form. This plan may change per season, so it’s a good idea to have different action plans for the different types of threats. Be sure to include possible alternate routes, specific point people employees can contact, and any opportunities to enable employees to work from home. You may also want to talk with your building supervisor to see what plans they have in place to keep the parking lot accessible and power and plumbing in working order.

Tip 5: Use technology to your advantage

Technology has come a long way, even in the past several years. Email may have been the technology of choice in the past, but today it won’t cut it. Instead, companies are opting to use a comprehensive communication system. Why? It offers infinitely more flexibility, functionality, scalability, and something email simply can’t provide – instant communications you know are getting through.

AlertMedia’s communication platform gives organizations the ultimate solution for internal communications. Our system allows users to send employees messages quickly and easily across multiple communication channels. Segment your population to send messages to precisely the employees who need to receive them. Then track open rates to make sure that every employee is in the know. – Read more

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