Instant Ideas in Data Science — Sales & Marketing — Part 1
Who ??
- Beginners of data science who want to shift into sales and marketing.
- Who want to implement new ideas in sales, marketing or any domain
There is a growing interest in applying machine learning techniques on sales and marketing data.Extracting meaningful insights from sales and marketing data has been prominent as each and every company wants to be a pioneer in improving the sales numbers. We will be seeing how we have disrupted the sales and marketing domain with data driven approach.
This will be a series of Instant Ideas which we implemented as part of our Advanced Analytics Team. Firstly, i will be walking you through the list of ideas which can be very handy to you in implementing these techniques in your own company. These ideas can be scaled to sales, marketing or any other product domains.
In the upcoming articles we will be deep diving about the topics which are listed below
Intelli Sales Assistant
While user is still browsing our website, we are targeting the customers intelligently even before they fill out any form or add any item to cart.
Churn Analytics
“Churn rate (sometimes called attrition rate), in its broadest sense, is a measure of the number of individuals or items moving out of a collective group over a specific period of time.”
This is one of the prominent techniques used in Sales data to predict what type of end users are not renewing in subscription and non subscription models.
Cross Sell Analytics
This is a classical example of recommendations in any other shopping sites. In enterprises it is all about probability of success in selling other products when a customer has purchased a base product.
Account Segmentation
Segmenting all the customers into buckets in a way that you can rightly target your potential buyers based upon multiple factors like Revenue, Company Size, GEO, IT spend, Software spend, competitor info.
Lead to Account Mapping
When you want to target the user with product promotions, sales plays where it is very critical to have the updated email address, contact number, LinkedIn URL. We need to map these leads with the existing companies in your repository to have a pilot view of company’s info like purchased products, revenue generated,no of renewals,..
WinLoss Analytics
Identify Products with good win rate in one or more countries, and prescribe to other countries where they haven’t been targeted to the same extent. It is built based upon the product performance in various industries and regions and proactively suggest sales team to target the new customers.
Persona of customers
Based upon the end user info like Title, Job description, Functional role and skills we can classify them into potential personas to efficiently target the right products.
It is more likely that developers will be targeted with programming tools whereas decision makers of company like Vice President will be focusing on bringing more revenue or process to the existing frameworks.
Conclusion
Do I plan on adding some more instant ideas? Hell yeah!
Watch out this space for more additions to the list. Feel free to shoot me any questions on the comments below or connect me on LinkedIn.
Thanks for reading!…
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