In a recurring revenue business, analytics and data are particularly important. When majority of your revenue comes from your existing customer base, the customer information you have is one of the best tools to increase customer lifetime value and extend the revenue for years to come.
When your sales team is equipped with accurate customer information and has an understanding of that data, the benefits are plentiful: increased opportunity for successful cross- and upsells, better customer relationships, insights into account usage, and much more. This is one of the reasons Aria recently announced Aria Revenue Analytics, a powerful business analytics technology fully integrated into our #1-ranked cloud billing and active monetization platform.
Businesses today understand that strategic use of data and analytics makes for better sales. This was the focal topic for Dreamforce session “Use the Data You’ve Got: Better Analytics Means Better Sales.”
Here are the highlights from today’s informative session:
It’s not just about sales. Show the sales team data that isn’t only about sales – include data about support tickets, site visits, potential opportunities, etc. You want a well-informed sales team equipped with the information they need to enhance the customer or prospect relationship.
You need more than data points alone. Just seeing data doesn’t really help anyone. You need tools that can help answer questions about the data, but not all analytics are good analytics. Here are 10 characteristics to look for in good analytics:
- Visual – data is easy to understand and digest at a glance
- Versatile – work with data over time
- Interactive – filter by date, activity, etc. to get the data you need
- Easily understandable – analytics are designed for maximum information transfer
- Navigable – give the ability to launch into decision or take immediate action
- Blended – bring together different kinds of data
- Fresh – provide data at the scale you need, at the time that you need it
- Mobile – data is with your people, especially sales people, when they need it
- Context aware – the use and benefit of the data is clear
- Security – data is secure
Don’t let your data go to waste. Strategic data analysis and powerful cloud-based tools can turn information into years of recurring revenue.