SalesFish B2B Sales Marketing Understanding Big Data

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    The Right Side of Big Data

    More and more companies are taking advantage of technology to capture an increasingly dizzying array of information on customers, markets, and competitors. Super markets capture our purchase information. Netflix tracks every aspect of our viewing experience. Amazon has made on-line shopping almost painless while routinely suggesting purchasing options based on our buying patterns. And let’s not even talk about what Google knows about us!

    The bottom line is that few, if any, businesses are not affected by the ability to capture and store more and more data. The big question is what do we do with this massive new layer of information once we have it? How do we transition from making business decisions on our “gut” to using “digital intuition” to compete and succeed? In other words, how do we get on the right side of big data?

    Start with What

    In the B2B world, customers are making purchasing decisions based upon the job they need to get done. They are looking for solutions that allow them to accomplish that job cheaper, safer, more efficiently, more effectively, faster, etc. Your job is to match your product and/or service to that need. If you know exactly what the pain point is, you can tailor your offering to satisfy the need and make the sale.

    But first you need to identify specifically what that pain point is. How often have you heard that price was the reason you didn’t get the sale, when in fact the reason the customer bought from someone else was they were able to deliver it faster. Take for example Amazon Prime. Their guaranteed 2-Day Free shipping, with delivery on Sunday, makes buying from them extremely attractive. If I can shop a variety of providers, order what I want, get it in two days and not pay for shipping, why would I not use Amazon?

    Instead of blindly pursuing “improvement” strategies for your products and services, step back, explore the ever growing sea of information at your fingertips and then shape your initiatives to satisfy what your customer is really trying to do.

    Commit to Selectivity

    Now that you understand what the goal is, you need to determine which information will give you the insight you need to make better decisions and better serve your customers. This can be a daunting task given the plethora of information that is often available to us. The driver for making sure you maintain focus during the process is understanding that mining that data with precision is the only way to realize the highest return on your investment in time and resources.

    The fact is that you may already have access to much of the information you need. It’s stored in your systems, or your customers are willing to offer it to you…if you would just ask. That may involve doing qualitative surveys of your customers and prospects to identify pain points and opportunities. Or it may involve a little digging, sorting through what you have already with a selective eye focused on the goal. Or it might involve reaching out through partnerships, public databases, social media, or professional associations and societies. But one way or another, the focus must be on being selective and matching the job your customer is doing with the specific information that enables you to get the job done with a competitive advantage.

    Capitalize through Change

    Once you know specifically what will move the needle with your customer, then comes the tough part – identifying changes to your organization, product or service that will make it happen. And as we all know, change is not embraced easily or often. It has been well said, “Change happens when the pain of staying the same is greater than the pain of change.”

    The question becomes whether you are determined to capitalize on the opportunity that is presenting itself or not. It’s not going to be easy, but if you are focused and dedicated, you can get your business into a profitable cycle that uses ‘machine intuition’ to expose opportunities, identify specific areas for change and improvement, and create more satisfied customers that will yield further insights that will keep the cycle turning.

    The reality is that this is a time of transition and opportunity. The question is are you going to get on the right side of big data so that you can capitalize on that opportunity? You know somebody in your industry is going to do it…why not you?

    Stay tuned for more relevant content on creating world-class B2B Telesales, B2B telemarketing and B2B Inside Sales strategies.  We at SalesFish Brand Marketing & Sales thank you for joining us in our commitment to unwavering strategic planning, B2B brand marketing and B2B sales execution.

    Call today and our “high-touch” dedicated team will assist you in assessing your strategic sales goals to tailor our B2B Telesales, B2B Telemarketing and Telemarketing services to your specific needs.SalesFish Telemarketing Services

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