Your sales team are at the heart of your FMCG business, opening up new avenues for sales opportunities. For your sales team, the power of syndicated data and unlocking the benefits of it proves invaluable. The real question is, are your sales team left in the dark when it comes to analysis of the data made available to them?
Granular analysis of syndicated data will give powerful insights into:
– Where, geographically sales are decreasing
– Which of your products are in the highest demand and why.
– Why sales are decreasing.
Analyzed, Syndicated Data is Indispensable for Sales
A healthy sales pipeline is built upon data-led insights and decisions which have enabled sales teams to re-strategize based on analysis of product consumption trends, merchant behavior, stock levels and overall sales performance.
Many organizations are utilizing some form of analytical or Business Intelligence tool to provide them with data insights into the many stages of their distribution chain. Typically, most of these tools ‘do what they say on the tin’ and deliver a very high-level overview of the distribution chain. Unfortunately, these tools are unlikely to provide any actionable insights for a sales team.
That said, studies show that sales teams who use some form of data tool in planning have a 54% greater forecast accuracy. Imagine what that percentage could be if the data were analyzed properly?
Syndicated data alone just isn’t enough.
For example, data which highlights a decrease in sales of a particular product is useful, however, wouldn’t you like to know:
– Why is there a decrease?
– Geographically, where is there a decrease?
– What can we do to improve?
If you had a solution which could empower you with actionable insights, you could;
– Locate the geolocation in which sales have decreased.
– Redirect your sales and marketing efforts to new geolocations which would prove more fruitful.
Perhaps, you could have even communicated directly with your merchants to understand their challenges at POS?
This is just one of many examples of how analysis of syndicated data is invaluable to your sales team. Actionable insights fuel new strategies which subsequently, deliver the sales results your business needs to survive.
With the help of data analysis, sales leaders can make better decisions when it comes to their sales strategy. Proving this point, teams that use data analytics tools in their planning record 19% greater success in meeting their annual targets (51% vs. 43%) and 27% higher win rates (47% vs. 37%).
Let’s connect the dots and shed some light for your sales team…
RedCloud is the world’s first open commerce platform, specifically designed to unlock the value of the distribution chain by turning each stage into a data collection point.
The result?
You’re delivered actionable, real-time data insights throughout your distribution chain and a platform which empowers you to communicate directly with your merchants – giving you insight where you need it the most.
Want to discover more? Contact us today to find out how we can increase your sales by up to 25%*.
*Statistic based on research conducted by Oliver Wyman.
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