Explore the following common challenges supported by generally available Sales IQ and Campaign Manager capabilities.
For more information about Sales IQ and general use cases, read About Sales IQ. For more information about Campaign Manager, read About Campaign Manager.
Recover lost sales
You need to detect when customers stop buying or using products early enough to prevent your competitors from gaining a foothold. Customer defection usually starts with one or two products at a time, and you need to be alerted of these early defection signals so that you can proactively prevent churn and defection across your existing customer base.
Solution
Actions to take
Learn how
Analyze your sales history for every customer and product combination. Quantify the consistency of:
Sales during a baseline period.
Changes during a more recent evaluation period.
Define actionable thresholds. These thresholds should create customer-specific actions for each customer and product combination with a sufficiently consistent sales pattern that declined significantly during the evaluation period.
Convert your historical sales analysis into action based on your thresholds.
Use Sales IQ to group individual products based on any available product attributes. Sales IQ avoids picking up on trends caused by the substitution effect of buyers switching between functionally equivalent products.
Feed Sales IQ two full calendar years of data to identify any strong seasonal trends in the business. Sales IQ creates a seasonally-adjusted historical sales analysis based on the identified trends.
Use Campaign Manager to create actions based on the seasonally-adjusted historical sales analysis. Campaign Manager avoids creating actions based on a typical seasonal decline in sales for a segment of the business, and identifies when certain customers do not increase their purchases as expected during a particularly high season.
Identify the best opportunities to cross sell at existing accounts
You want to improve your understanding of customers' product needs. However, it's time-consuming to analyze customer behavior and identify the white space at each account. The analysis often ends in an analytic or spreadsheet deliverable that quickly grows stale and is difficult for sales to consume and act on. Initiatives to segment customers also rely on customer classifications that must be inputted manually and is forever plagued by concerns about data quality.
Solution
Actions to take
Learn how
Cluster customers based on recent sales history.
Create profiles of customers that buy similar products. Regularly refresh these profiles based on the latest sales data.
Based on your clustering analysis, generate a blueprint for what products you should target for specific customer accounts. The blueprint should respond to where a customer's recent spend is significantly different than the expected spend in each category, as defined by the customer's profile.
Use Sales IQ to group individual products at the highest product level using any available product attributes. Sales IQ uses the high-level product grouping to compare spend patterns across customers.
Sales IQ clusters customers based on actual spend data. You can also augment customers in Sales IQ by the inclusion of qualitative customer classifications, when available.
Use Campaign Manager to generate product group-level recommendations and analytics for each. Analytics by default include specific product recommendations to make based on commonly-sold products within the customer profile.
You want to know each of your customers' account histories and identify opportunities to win back lost business. You don't want to lose sight of business you might have lost over time and granted competition a foothold into while focusing on other sales.
Solution
Actions to take
Learn how
Analyze your sales history for every customer and product combination.
Identify the year when a product group was sold at the highest run rate.
Identify products sold significantly below the peak year run rate for a given category.
Convert your historical sales analysis into action based on data you identified.
Use Sales IQ to group individual products based on any available product attributes. Sales IQ avoids picking up on trends caused by the substitution effect of buyers switching between functionally equivalent products.
Feed Sales IQ multiple calendar years of historical data to identify the peak year when a product was sold the most.
Use Campaign Manager to create actions based on the historical sales analysis.
You want to hold customers accountable to volume commitments, be they contractual or simply a handshake agreement. With many volume commitments made across your customer base, you need to know which commitments to watch and which ones are running smoothly.
Solution
Actions to take
Learn how
Document and store volume commitments, and match them with your sales history.
Quantify the degree to which each volume commitment is on track or behind plan. Identify the specific volume commitments that aren't being fulfilled as expected and may require attention.
Convert your contract analysis into action based on the data you identified.
Where structured contract data is not available in a source system, you can upload volume commitments to Sales IQ. This allows you to start small even when contracts aren't well documented.
Use Sales IQ to measure volume commitments against the expected run rate given their start and end dates. Sales IQ provides a detailed analysis of how each volume commitment is performing compared to their plan at any point during the contract term.
Use Campaign Manager to create actions based on this analysis.
You have inventory that is nearing end-of-life, or excess inventory that needs to be sold to improve inventory turns, reduce overhead costs, or make space for newer product lines. However, you often end up receiving this data through a spreadsheet or report that you don't have time to analyze and adds to the digital noise you need to sort through.
Solution
Actions to take
Learn how
Match a simple list of target products to customers who have purchased the products in the past.
Identify customers with the highest likelihood of having interest in purchasing the target products.
Based on your analysis, generate a blueprint for what inventory you should target for specific customer accounts.
Upload a target list of products into Sales IQ. The list can include details on specific warehouses where the product is stored.
Sales IQ serves up a reference to multiple products that can be substituted with the excess inventory target. Sales IQ structures this reference such that customers can be targeted for the excess inventory product even if they've only purchased the substituted product before. You can also configure Sales IQ to only match specific warehouses to customers in the same region.
Use Campaign Manager to create actions based on this reference.
You have products that can be targeted for substitution with a higher-margin, private label, newer, or otherwise preferred product. However, you often end up receiving this data through a spreadsheet or report that you don't have time to analyze and adds to the digital noise you need to sort through.
Solution
Actions to take
Learn how
Match a simple list of current-to-target products to customers who are buying the current product.
Based on your analysis, generate a blueprint for what customers you should target for specific product substitutions.
Upload a target list of products into Sales IQ. The list can include details on specific warehouses where the product is stored.
Sales IQ serves up a reference to multiple products that can be substituted for the target product and expand the reach of your campaign. You can also configure Sales IQ to only match specific warehouses to customers in the same region.
Use Campaign Manager to create actions based on this reference.
You need to grow share at customers with very little purchase history, and know which products to pitch to new customers. You want to effectively personalize your marketing attempts to the product needs of each prospect.
Solution
Actions to take
Learn how
Identify any available qualitative customer attributes known for both existing and prospect accounts. Based on this data, match prospective customers to existing customer profiles.
Create a baseline of the products you expect each prospect to buy.
Based on your analysis, generate a blueprint for personalized marketing for each prospect.
Use Sales IQ to create customer profiles based on existing customer buying behavior. Sales IQ matches prospective customers to these profiles usng any available customer attributes, including categorical fields and numerical data.
Use Campaign Manager to create actions based on this reference.
We use cookies and similar technologies to personalize content, improve our site, and analyze traffic, and to serve targeted ads and market to you. For more information, please see our Cookie Notice and Privacy Notice.
