Top Six Fast and Easy Ways to Increase Sales in 2021
Data enrichment is key for any sales and marketing team to achieve greater results with their campaign.
In order for sales and marketing teams to stay relevant, they must know who their audience is, what they want and how they want to be reached. Without proper data enrichment and analysis, how will a sales or marketing team reach their best and most loyal customers? The truth is, they won't.
With competitors consistently looking for ways to get ahead, you must do the same. Thankfully, there are sales and marketing analytics tools available that will answer your most pressing questions as you craft your next campaign. These analytics tools are designed to deliver valuable insights and predictions to guide your next steps and optimize strategies faster and more effectively than ever.
How to Optimize Your Marketing Campaigns
In order to understand why sales and marketing teams need enriched analytics, one must know what they need to craft a successful sales and marketing campaign. By understanding six main details about their customers, a sales and marketing team is equipped to make the right moves for their campaign.
Customer Data Enrichment is Key to Understand These Six Details
Enriched Analytics helps sales and marketing teams get their campaigns 'right' - faster, better, and with much less wasted spending. Enriched Analytics are insights and predictions made possible by matching an organization’s contact and transaction data with billions of third party data points.
The insights and predictions made possible with Enriched Analytics can help your sales and marketing teams get to know your:
Customers' Preferred Communication Channel
Customers' Most Preferred Products/Services
Best Campaign Messaging
Most Effective Campaign Budget
Enriched Analytics Help Sales and Marketing Teams
1. Identify Your Target Audience
Enriched analytics provides detailed primary, secondary, and emerging personas of various customer subtypes: new, repeat, high AOV, fastest new, fastest repeat, high margin (SEAR Reports).
For example, a company may want to increase sales by targeting new customers who don’t resemble traditional customers of the company. Enriched Analytics could reveal to a business that their sales are increasing among a new demographic group, which they can then leverage to further increase sales among that group.
2. Know Your Customers' Preferred Communication Channel
Enriched analytics provides contact level predictions on what marketing channel each contact is most likely to respond to (Advanced Predictions).
For example, a marketing team may want to decide who should be included in a text campaign versus an email campaign. Enriched Analytics could predict the contacts in a prospect list that are most likely to respond to text versus email and thus could be the best audience for a text message campaign.
3. Deliver the Right Product to Your Target Audience
For example, a company could be trying to increase sales of a popular product with existing customers who have yet to purchase that product. Enriched Analytics could predict the customers most likely to buy a particular top selling product, enabling a sales/marketing team to offer that product to the right existing customers, thereby increasing the likelihood of a repeat sale.
4. Craft the Best Campaign Message
Enriched Analytics provides personas of customers who responded positively to particular campaigns and can predict which campaign a customer is most likely to respond to next (SEAR Reports).
For example, Enriched Analytics could analyze all of the successful sales/marketing campaigns from the past year, reveal the underlying personas and products, thereby enabling the sales/marketing team to select the campaigns and products most likely to convert leads into sales.
5. Optimize Location Targeting
Enriched Analytics provides lookalike DMAs and Zip codes that population most similar to selected customer profiles (CLEAR).
For example, an online business may be trying to decide what additional locations to run an advertising campaign for a successful product in order to expand and increase sales of that product. Enriched Analytics can provide the DMAs and zip codes that have populations that most closely match the personas of the customers already buying the product.
6. Create an Effective Marketing Campaign Budget
Enriched Analytics provides detailed analysis of past campaigns that can be used to budget and improve future campaigns (HEAR).
For example, a marketing team may be trying to decide how to improve a previous direct marketing campaign and how much advertising spend should be devoted to that campaign when rerun. Enriched Analytics can provide the marketing team a detailed analysis that shows how the campaign performed among various audience attributes, both in terms of success and size of sales, there enabling the marketing team to determine how much spend to commit to that campaign and where to commit the spend for greatest impact.
Let's face it, finding a data enrichment tool that also produces reliable and actionable customer analytics is nearly impossible. So, when you do stumble on one, taking the plunge is an immediate 'yes'.