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One mantra to boost your sales - Analytics

By: Sarathkumar Kannan - Sep 30, 2019

 

Consider two companies, one (A) which is performing well and the other (B) which is poor in sales. Now, let’s stretch out its reasons and see the impact of analytics on both.

Firstly, we will see the factors involved during the sales process:

  1. Production/Product (inclusive of quality and quantity)
  2. Pricing
  3. Marketing
  4. Brand Value
  5. Competition    

Analytics in Company B:

Weak links in any of the above factors would cost them dearly in sales. Analytics can scrutinize whether any of the product characteristics need to be tweaked considering the competition, and can also devise better marketing strategies to reach the target. This road map will lead company B, a trek to the peak.

Analytics in Company A:

This is something really interesting. Company B understands that analytics is their go-to option to fix them straight.

But in Company A, people tend to spend/concentrate more on marketing rather than on analytics as they are already progressing well. Actually the scope for analytics and its impact is unimaginable in this company because,

  • Leakages would be their major issue. Preventing them would generate considerably high revenue.
  • As the business grows bigger, forecast and optimizations become mandatory to stay successful.      
  • Analytics can help Company A in the same way as it does in ‘B’, but even a 1% rise in revenue will make their pockets heavier.        

The bottom line is that whether you are Sector A or Sector B or an undefined Sector C, you must practice analytics in your business for its growth. 

Write us down, we will assure your growth!


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