Ever noticed how McDonald's asks you if you want fries too? Or when a five-star hotel receptionist prompts you to upgrade to a sea-view room or try out their spa? That’s the power of contextual selling which utilizes consumer insights, sales analytics, and business intelligence to provide a hyper-personalized experience to consumers while raking in billions in extra revenue for brands.
It follows, then, that companies that take time to reach and serve their consumers directly instead of merely depending on the sales channels or partners have a deeper connection with their consumers, and their ability to upsell or cross-sell other products and services increases exponentially. Consumer goods companies face increased challenges in the face of globalization as they must improve their interactions with shoppers and consumers across all channels, constantly innovate to find new ways to delight them, and at the same time, scale globally without hampering the bottom line.
For most companies in this segment, Salesforce CRM is the tool of choice to streamline their sales and service operations. Salesforce brings together a host of capabilities that serve sales, key accounts, servicing, marketing, and reporting. This becomes crucial since sales and marketing processes increasingly move online, with sales coming from all segments and generating massive amounts of data.
Thus, the data-driven analytics approach becomes important not just to understand the trends in purchase and consumption but also to modify and personalize the channel experience. This is in line with the consumer expectations too as 62% of consumers expect engagements with brands based on their own actions and behavior.
Meanwhile, it is also crucial for a business to identify the right prospect to generate more revenue. That is what Data, along with Business Intelligence (BI) for sales does. The combo assists in identifying the right prospects but also in discovering cross and up-selling opportunities.
With the workflows powered by Salesforce, consumer goods companies are able to create holistic omnichannel experiences with consistent communication. At the same time, the development environment provides an excellent way to build and globalize solutions rapidly.
The key to a consumer's heart is in knowing them and Salesforce dashboards are often useful to generate insightful data on key KPIs, trends, behavioral indicators, and consumer journeys that can plug into the overall sales strategy to enable efficiency and business outcomes. Nowadays, with interactive dashboards coming into existence, it is easier for consumers to get inputs easier and faster.
The consumer experience can be elevated with a 360-degree sales strategy guided by data-driven analytics and reliable insights from each touchpoint. Companies can build the entire consumer journey for very specific consumer cohorts by analyzing data captured through modules for sales, customer relationships, marketing, social and search behaviors, etc.
But, building consumer journeys and analyzing them isn’t enough. Companies leading consumer goods segments in their respective niches go a step further to frame their strategy basis these insights. Be it running an abandoned cart campaign after analyzing email campaign-to-sales data or cross-selling complementary products across channels, the power of intelligent insights in boosting sales revenue cannot be overemphasized enough.
Powering these strategies through a connected Data Universe helps businesses make vital decisions when they matter the most. Building a Data Universe helps take care of various data management processes from consolidating data to securing them with Data Governance and preparing data ready to derive values from it.
Moreover, when sales BI is backed up with AI-Powered predictive intelligence, it helps understand the customer behavior and trends and can provide customers with automated recommendations. For instance, Amazon’s ‘frequently bought together’ recommendations contribute 35% of its revenue. The company focuses a great deal on data-driven marketing and analyses billions of data points through deep learning engines to constantly figure out customer needs and wants. It then serves them the right products at the right time - be it on the site, the app, email, or with social and search ads that utilize behavioral targeting.
Building a consumer journey-based and data-driven analytics-propelled customer engagement model can transform the buyer experience and loyalty. Be it through upselling, cross-selling, retention of existing customers, or attracting new ones, having the right technology and tools to churn out insights can help make successful decisions by unlocking immense value that remains currently invisible. According to a Salesforce report, 80% of the customers become more brand loyal with personalized service.
While Salesforce CRM offers a lot of data and analytics, organizations and leaders can often find themselves lost trying to extract insights from the data. Recently, Lumenore launched its template-based analytics solutions for CRM applications such as Salesforce CRM and QuickBooks to allow fast and easy visualization for analytics metrics that really matter.
Using Lumenore, leaders, and executives can access reliable insights across key accounts, sales projections, sales funnel, open opportunities, and average sales cycle time. These interventions can not only help guide strategy in critical areas but also help tie together the entire business operations more cohesively.
Moreover, the business analytics suite provided by Lumenore also comes with a trends analysis dashboard that helps fast access to actionable insights from trends in various metrics and KPIs. The platform features NLQ-based (Natural Language Querying) feature support such as “Ask Me’ which allows users to ask queries simply and the platform utilizes deep analytics to churn out highly valuable and consumable insights that can help shape the business strategy across the organization.
To know more about how Lumenore can help supercharge your sales, click here: https://www.lumenore.com/salesforce