Sales and marketing have come a long way since the days of the yellow pages. Tracking the ups and downs of customer interactions, accompanied by the digital complications, makes for a hard day’s work for the marketing and sales department. There is a way to get a flood of information under control by using the right tools.
Business trends in using revenue intelligence
Automation is the key to business and has been ever since the computer sprang to life. The reality of having a machine do something that we use to do is coming on full steam. The trends are growing. Big data, local SEO and artificial intelligence are becoming huge tools for the computer savvy marketer or salesman. Couple that with the fact that all of these things are going to be more pervasive in the next few years, and the trend suddenly becomes huge. The good news is that certain software is available that can harness the power of the computer for a marketer. The data that needs to be known can be presented in an easy and quick manner. Not only that, it can be applied instantly to do more marketing and sales by using the right revenue intelligence software.
Making a profit is the aim of any business. But the statistics tell us that most businesses fail within the first year or 18 months of their existence. Of the myriad of reasons why they fail, one of those reasons is that they did not use technology properly. Every company is a technology company. This is true because of the smartphone. The small computer that is in nearly everyone’s pocket is a great tracking tool. When, where and how long a customer does anything can now be tracked and put in a database. A successful business knows this and puts it to good use.
What revenue intelligence is?
The term revenue intelligence is the practice of gathering information across multiple channels of income. Knowing what is the important overall picture of what customers are doing is the work of revenue intelligence software. Does a customer want a higher priced product? What is a better price point for what is being offered? Questions like this can be answered on the fly with the right software.
How has software changed marketing?
Marketing analytics has developed with the advent of tracking services relevant promotions based on customer performance. Streamlining the time from product creation to a successful sale is a wonderful benefit of such software. Geomarketing using GPS or other techniques is a huge change. Advanced analytics capabilities of software to track campaign performance make the old “AB” testing a dinosaur in the marketing world. Software that discovers profitable keywords to use in a search marketing campaign has been a big help for those who have a website.
Knowledge is power
Knowing a bit more than the competition in a dog-eat-dog world is crucial. But better than that, knowing the profitable secrets of increasing sales is divine. Artificial intelligence and its algorithms are beginning to creep into the marketing and sales world. Simply called, “AI Marketing”, this is an advanced method whereby a business can cluster the behavior of customers to predict what they will do later. Using machine learning and Bayesian networks, profitable data can be uncovered. Staying one step ahead of what people are going to want is supremely profitable to know.
Powerful software does powerful things
Transforming a fledgling company into a powerhouse requires leadership and wisdom. Some of the smartest people not only make software, but they use it as well. The idea of having a machine do for us in seconds what used to take days or weeks is changing the face of the world, not just marketing. Smart people know this and put it to use in their business. Millennials are one of the first generations to be accustomed to using technology such as we have today. They are also destined to inherit over $68 trillion dollars from their boomer parents. Those who lag on using software to market to this group will lose out.
Business is driven by sales and sales are driven by marketing. Using the best available tools to get these tasks done as efficiently as possible now takes computer power. There is no other way. The modern business of today is forced to use software because every other business is either using it or will use it. Revenue intelligence software that delivers this is worth its weight in gold.