Better Big Data Management and Improved Lead Conversion: Priorities in 2014
As 2014 approaches, business leaders everywhere are making their New Year's resolutions, targeted and prioritizing specific goals to help improve the omnichannel customer experience, increase customer loyalty, and ultimately advance their businesses.
For many, two resolutions will appear at the top of their lists: to convert more leads into sales and to better understand and manage Big Data.
For virtually any enterprise, reaching more qualified customers is the name of the game. But the increased number of channels into an enterprise means more data and more leads coming to marketing and being delivered to sales. Sales ultimately is unable to act on all the leads and therefore needs a better way to prioritize them. The traditional method of scoring of assigning point values only goes so far.
Today, a more accurate method can be achieved by combining behavioral and transactional data from across all engagement channels and combining that with rich marketing data to determine likelihood to purchase. In "Putting Lead Fatigue to Bed," Anna Papachristos explores how sales organizations can use predictive analytics to eliminate lead fatigue and better prioritize prospects.
Papachristos writes, "With predictive capabilities, companies can then make educated decisions with greater speed and take quicker action as needed. Though these patterns may not always pan out, this strategy enables sales teams to keep moving forward, not stand still or fall behind the competition."
Accurate lead scoring which helps to better identify new opportunities ultimately must rely on an organization's ability to collect, analyze, and act on a company's Big Data. In "Six Tips to Prevent Big Data from Bogging You Down," Cynthia Clark shares expert opinions to help prevent business leaders from getting overwhelmed by their Big Data dilemmas. One of the tips recommends investing in data scientists and has already spurred conversation today around the importance of hiring data analysts who also have business acumen.
Please join in the conversation. We'd love to hear your opinion on this. We'd also like to know how you personally plan to better manage Big Data and lead fatigue in 2014