Learning to leverage data processing to boost sales is a lesson that all of the big players are investing a lot of resources into making a reality. For example, utilising a data processing provider improved data input time by 30%.
Artificial intelligence systems and sophisticated software being developed to manipulate data and give businesses an edge on their competitors.
So data processing takes raw data from a system and transforms it into a readable format. This can be done automatically through advanced algorithms or manually by data scientists.
Data Processing Consists of Six Stages
- Gathering Data: This is always the first step. You need to collect the data that is pulled from various sources. Then that data is stored in a data warehouse where it awaits the next step.
- Data Preparation: This is also known as the pre-processing stage. During this step, data is organised and cleaned up so that it can be moved into the next stage. It’s essential to have systems in place here to ensure data quality.
- Input Data: At this point, the data should be clean and free of errors. So it is now put into its final destination here. This is where it will begin the transformation from raw data into useful information.
- Data Processing: Here, machines will process data based on pre-programmed criteria. The goal is to process the data in a way that it can be interpreted.
- Data Output: Now, we move onto the stage where data becomes usable for everyone. It’s not limited to data scientists. Everyone in the company can start to use the information for their departments.
- Storing Data: We come to the final stop for data, which is to store it. It must be secured and kept safe for future use. Some information will be more useful in the future than it is today. Companies must also ensure that they are compliant with local regulations for data storage, such as the GDPR.
10 Ways to Leverage Data Processing to Boost Sales
Data is compelling and businesses that can adequately leverage it are going to gain a considerable advantage. – Ollie Hill, www.olliehill.com/seo/bristol/
#1: Develop a Winning Business Strategy
Data processing has completely revolutionised every industry of the business world. We can use data to develop more accurate product development strategies, pricing plans, and marketing plans. Developing a winning business strategy is highly dependent on having access to the right data at the right time. The first goal is to address the most basic needs of your business in the most efficient manner possible.
#2: Keep your Content Compelling
When dealing with B2B sales, creating compelling content is an essential step to raising awareness of your products or services. The real challenge is choosing the right type of content. That’s where data comes into play.
It helps businesses understand their market, so they can focus on content that directly addresses the needs of their target market.
#3: Boost Reputation Among Customers
Building trust is a huge part of creating a sustainable B2B business, and one of the best ways to achieve that goal is to prove that you understand your customers. Learn what makes them tick and then offer them certain benefits for leaving reviews. This all starts by gathering and interpreting data provided by your target market.
Speaking of reputation, maintaining your positive online reputation requires regular monitoring, maintenance and proactivity. If you’re struggling with this check out this handy guide to reputation protection.
#4: Ensure Leads are Qualified
Of all the leads that marketing brings into a business, only 25% of leads are legitimate. So only one out of every four leads is going to convert into sales. Furthermore, only half of the leads are ready to buy a product or service when they are brought into a sales funnel. Qualified leads can be identified using data processing so that businesses can capitalise on them.
#5: Create a Customised Sales Journey
In today’s business world, the “one script” approach will not work. Businesses must provide a customised sales journey that addresses a specific problem. 65% of sellers who begin their customer’s journey with social media fill their sales pipeline. This journey must offer a solution to a particular issue, though and that’s where data comes into play.
#6: Generate Better Leads from Web Traffic
Data can tell you precisely what businesses are connecting with your website and exactly what they are looking at while visiting. 96% of web visitors are not ready to make a purchase, but they can still provide value. Tracking their interaction with your website will help you understand what type of content you should create in the future.
#7: Improve Lead Quality Through Data Enrichment
Data can be used to create a process known as “lead scoring.” What happens is that data is processed automatically, and each lead is given a score based on particular actions. That allows businesses to target specific leads with specific campaigns based on their interests. Targeting leads with content that is relevant to their interests boosts conversion rates by 72%.
#8: Use Data Processing to Create a Focused Strategy
Another way to use data processing to increase sales is to develop ways of creating a laser-focused business strategy. Businesses that do not have a clear plan are going to struggle with their sales process. Decision-makers in industry should use data to narrow down their strategy so that they can focus on a single segment.
#9: Have Fewer Decision Makers
Another benefit of using data to drive a business forward is that there is no need for a lot of different decision-makers. Since companies have access to detailed reports and accurate forecasts, fewer people are needed to make crucial decisions. This eliminates a lot of the bureaucracy involved.
#10: Be an Innovative Company
Companies can leverage data so that they can build on external networks, as well as maintain their internal ones. B2B systems can now connect with external systems to boost efficiency.
For instance, sales and marketing teams can connect in real-time to provide instant access to customer information as it’s entered into the system.
My mate Olllie
The future of data processing is here. We’re already seeing all the big players moving to more cloud-based data processing services to meet the demands of the business world. Using data processing to boost sales has never been easier, but it’s up to you to take the initial steps to get the ball rolling.