Just as last year’s global shutdown changed the economic landscape, this year’s transition to the new normal will have an impact on many facets of business and life as we know it. So, what does this mean for data? And, more importantly, for the analytics driving our businesses that are supported by that data?
Pricing is one of the most important business levers impacting your bottom line. A small change in rate on a product or service can have a large effect on profit. It is imperative that your pricing strategy and execution leverages advanced analytics to ensure decisions are constantly optimized.
Now is the time to be making key decisions that will set your company up for success in 2021. Particularly in subscriber-based businesses, misses to Q1 revenue make your annual targets that much harder to make up. The impact you can have on your year-end revenue is the greatest it will be today.
As the year closes, we thought it would be helpful to reflect on the lessons we have learned. It was a challenging year for most, one that accelerated the ongoing digital transition for all. Perhaps the biggest lesson was that those who adapted have thrived. Why did some players thrive while other struggled? We have distilled below key insights that your business can implement for growth in the new year.
TLDR: When your business is not meeting sales targets, how do you know whether your sales team is on the right track? Data-driven selling can be a powerful tool for diagnosing and improving sales productivity issues. It is founded on the following four insights: (1) sales success is highly correlated to the right sales activities with the right frequency; (2) there is a real and measurable point of diminishing returns for any sales activity; (3) you can develop high quality expectations for new and retrained sales personnel pertaining to sales production over time; and (4) data infrastructure and dashboards are key to sales managing themselves and to management managing sales.
TLDR: Taking a data-driven approach to B2B selling and marketing will transform your go-to-market strategy. You don't need a major transformation overnight; instead, get started on the journey by putting the different elements in place at your own pace. Enabling it all will be an updated sales and marketing data ecosystem, which will be covered in an upcoming post. Let's focus for now on the key moves that will bring your go-to-market strategy into the 2020s.
2020: the pandemic is leading consumers and businesses to re-assess how they purchase and how they sell. As always, times of crisis become a catalyst for change. In our case the data shows an unmistakable trend: the shift online and toward more virtual interactions is accelerating and driving a wedge between the high performers that adapted and saw revenue grow, and the low performers that did not. How did they do it? How did they adapt their go-to-market strategy? Let’s dig into the data…
Pricing is one of the biggest levers you can pull to affect business results. It is typically set by businesses using some version of the following planning cycle:
In a previous post we reviewed the macro trends underlying the AI disruption. In practice, how does it impact go-to-market strategy? Let’s review the three areas primarily affected by these drivers. In all cases the theme is the same: technology unlocks new capabilities. It enables leaders to operate faster and more efficiently, to identify new growth opportunities.
Just as the web disrupted businesses from top to bottom by transforming marketing, distribution and supply chains, AI technologies are now putting all of us through another major transition. How so, you ask? Let’s understand the impact of the web’s disruption first, as a template for how technology disrupts businesses.