News Column

The Era of Big Data Arrives to Sales and Marketing

December 11, 2012

Lattice Engines and an esteemed group of more than 20 Big Data, sales and marketing leaders announced their predictions for what's to come in 2013. The predictions center on the arrival of Big Data to sales and marketing organizations and its projected impact.

"Sales and marketing is the next frontier for Big Data," said Shashi Upadhyay, CEO of Lattice. "The last generation of cloud-based sales and marketing technology delivered massive improvements, but was designed in a world of data scarcity. Today's data-intensive world offers every business the opportunity to translate Big Data into big sales."

Lattice Predictions for 2013

-- Big Data injects information science into relationship selling. While

many large companies today leverage internal data to aid their selling

efforts, in 2013, companies will take it to the next level by combining

internal data (e.g. purchase history, customer service data and

marketing automation data) with external data (e.g. firmographic data,

company growth indicators and third party data sources such as Lexis

Nexis) to make stronger predictions about which customers and prospects

are most likely to buy.

-- Sales and marketing professionals learn to trust predictions made by Big

Data. Most organizations will start small by experimenting with new

products or prospecting for new customers, but over time, they will gain

the confidence to run a large part of their marketing and sales efforts

informed by machine-driven predictions.

-- Big Data dramatically increases the value of CRM technology. Companies

using Big Data technology will increase adoption of their CRM systems by

transforming them to actually help sales teams sell more as opposed to

primarily being used as a tool for management. Analytics identify each

sales rep's most receptive customers/prospects, recommend what to sell

them and prompt them on what to say.

Industry Leader Predictions for 2013

Following is a sampling of more than 20 different predictions from Big Data, sales and marketing leaders featured in this new ebook from Lattice.

-- Greg Alexander, CEO of Sales Benchmark Index: Sales rep prospecting will

be a top challenge. In 2012, companies over rotated towards lead

generation being the exclusive responsibility of the marketing

department. Sales has to generate their fair share of the leads. These

muscles have not been used for a while and reps currently are not very

good at generating their own leads. Sales departments got caught up in

the hype cycle of marketing automation.

-- Dave Brock, president at Partners in EXCELLENCE: High performance sales

hone in on prospects. In 2013, high performance sales organizations will

provide their sales people with "intelligent leads." Today, these

companies are leveraging marketing automation systems, lead nurturing,

lead scoring and other techniques to provide high sales accepted leads.

By incorporating rich analytics, these organizations will make quantum

leaps in lead quality/conversions.

-- Brad Feld, a managing director at Foundry Group: Big Data is miniscule.

Twenty years from now, the thing we call Big Data will be tiny data. It

will be microscopic data. The volume that we're talking about today is a

speck. The key for 2013 with Big Data is to figure out how you can make

a difference. Don't let marketing noise obscure what's real and what

isn't.

-- Heidi Melin, CMO Eloqua: Companies will continue to seek a deeper

understanding of buyers and the foundation for achieving this will be

Big Data. Marketers will leverage their ecosystem of technology and the

insight it provides to further understand their buyers' 'digital body

language.' The explosion of available data, beyond demographics, that

captures a prospect's online behavior will help organizations move

potential customers through the buying stages by delivering the right

information at the right time in their journey from awareness to

consideration to ultimately, purchase. If marketers can take advantage

of Big Data, companies will benefit from the insights necessary to drive

revenue.

-- Anneke Seley, CEO and founder of Reality Works Group: Without the sales

insights made possible by Big Data, sales teams will waste a lot of time

and alienate a large number of buyers who aren't ready to buy or will

never buy. Forward-thinking "Sales 2.0" companies have recognized that

selling strategies informed by data and enabled by technology lead to

measurably better business results and happier customers. Big Data and

analytics have already contributed to major advances across industries

and functions and it's time for sales to reap these rewards as well.

More 2013 predictions from thought leaders across the industry are available in this new ebook.



Source: Copyright PRNewswire 2012


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