B2B companies are leveraging advanced analytics. Analytics can help companies to customize buying experiences through ecommerce channels and to provide sales reps with guidance about what customers are likely to purchase and what prices make sense to quote in the context of the deal. Customers want their buying experience to be finely tuned to their unique needs from a product perspective as well as from a pricing perspective. Across channels, whether on the web or in sales rep interactions, B2B customers expect companies to be able to anticipate their needs.
For B2B companies, transaction data holds a wealth of information about where and how to sell more for more, but much of this information goes undetected. Algorithms and predictive models are needed to do the heavy lifting to turn this data into actionable information about each customer for sales reps. This information, or prescriptive guidance, enables sales reps to have more strategic conversations with customers and, in turn, builds the sales team’s confidence in advanced analytics. This same actionable information also can easily be fed into ecommerce platforms to provide a personalized web buying experience for customers.
AKA using advanced analytics to be proactive.