Sales professionals have always been at the forefront of technology adoption. When we speak of using Artificial Intelligence and Machine Learning techniques, sales are not backing down here either. In fact, according to an independent research on how AI ML influences sales and revenue generation teams, 67 per cent of the sales leaders are already using Big Data analytics dashboards or planning to do so in the next year or so. This has opened up a massive opportunity for data scientists and business analysts enrolled with the top Big Data training in Gurgaon.
Here is how you can leverage a Big Data training in Gurgaon to amp up your Sales and Revenue generation skills.
Learning Sales Force basics
If you are new to sales domain and have limited Big Data knowledge, you should straight away walk into a Salesforce knowledge center. A Sales force knowledge center provides the basic information on what is sales pipeline and how you can use various products, tools, sales automation kits and AI ML advancements to drive your success.
Here are the key terms you would learn while designing a sales engine based on basic Big Data training.
1 - Sales Cloud
A sales cloud is a packaged online repository of all the sales related tools and solutions bundled together in the form of software you can use from logging in to an online account. The popular sales clouds include Salesforce, Hubspot and Leadfeedr, Adobe Marketo, and Demandbase and so on.
2 - Service Cloud
Similar to a Sales Cloud, a service cloud would feature additional features that integrate Sales and revenue generation product with service and after sales tools.
3 - Monthly Recurring Revenue (MRR)
MRR is defined as the verified volume of sales earned per month from subscriptions to any product, solution or tools. It provides a bird’s eye view on how your sales is growing month on month and forecasts through the next 2-3 quarters.
4 - CLV
This is the most admirable term in the sales cycle. CLV or Customer Lifetime Value is evaluated based on the volume of sales a particular customer or group of customers has given to your company. This is calculated based on the volume of sales per year, discounts availed and the cost of retention of particular customer. When you have a complex group of sales and customer service campaigns, sales automation tools help in calculating CLVs.
5 - NPS
This is my favorite sales terms - NPS. It is referred to as the Net Promoter Score and helps in identifying the brand influence of your company in leveraging customer satisfaction to acquire more customers, retain existing customers, and launch a new product with beta versions. Loyalty, retention rates and likely cost of acquiring new customers are all understood from the AI ML based NPS calculators.
Big Data training equips a sales analyst with the power to design and build Salesforce analytics decks that help in understanding how sales resources are distributed across teams and SDRs. It not only contains the exact number of SDRs in your team and how they consume information on CLVs, but also offers a 360 degree vision into pie charts, historical trends and geographical reach of your Marketing and Sales campaigns tied to the overall sales and revenue generation
Sales analytics is known to provide business forecasts and optimize the sales funnel by tracking various events, stages and actions that helped close the deal with existing and new customer, both.
Big Data for Lead Generation
There are many ways to connect Big Data management tools with your Sales CRM, but only a handful of them are verified for 100% accuracy and deliverables. It is best to take the support from business analyst who has worked with tons and tons of Marketing Qualified Leads and turned them in to Sales qualified Leads (There are a hell lot of blogs trying to distinguish between MQLs and SQLs). If you are designing a sales lead generation engine for a retail, you would have to deal with 100x more SQLs compared to what you would do for a B2B product. It’s called hyper personalizing your sales engine depending on the volume of leads and sales forecasts accentuated by the brand or customers.
In the end, the best Big Data Training would help you create the smart AI ML trained sales engine that delivers best sales opportunities -- Timely. Accurate and Converting.