Sales and marketing have existed for as long as people have had money to spend on goods and services. Those fields will continue to flourish as long as that remains the case. However, advents in technology have changed sales and marketing in ways that people couldn’t have imagined even a decade ago.
Specifically, analytics have had an enormous impact upon sales and marketing. Read on to learn how analytics has changed and will continue to change the fields of sales and marketing.
How Have Analytics Changed Sales and Marketing?
As we mentioned at the beginning of this post, sales and marketing are some of the oldest professions known to humankind. The Internet has had a major influence on how those two activities are carried out, though.
We’ll use social media to illustrate our point. In the late 1990s and early 2000s, social media platforms became popular. These sites became a place for users to share their sentiments about anything and everything, including brands. It didn’t take long for companies to realize they have an opportunity on their hands.
To better understand how people feel about brands, companies began using analytics software to gauge, among other things, customer sentiment. Armed with that information, companies can improve their marketing efforts as well as their products to improve their relationship with customers.
How Will Analytics Change Sales and Marketing in the Future?
The rise in social media usage as well as connected devices means that data is growing at explosive rates. Using this data has become de rigueur – a part of marketers’ and salespeople’s jobs. That being said, the way in which marketers and salespeople will use this data, and the way it will shape their jobs, will continue to change.
For a start, artificial intelligence will play a larger role in sales and marketing. Marketers and salespeople can use analytics powered by AI to make their efforts more effective (create more effective marketing messages, make better decisions about how to spend marketing dollars, predict which prospects are the most likely to buy, etc.).
Second, prescriptive analytics are becoming increasingly important in sales and marketing. Prescriptive analytics represent the cutting edge in analytics. This type of analytics tells you what action you should take based on your data.
Third, analytics allows marketers to reach their audience more effectively. Programmatic ad buying is one example of this. It’s based on social, behavioral, and search data, and it determines what kind of advertising will most interest a user. Programmatic advertising isn’t a new technology, although developments have allowed marketers to evaluate data mid-campaign to make tweaks and to purchase advertising aimed at mobile device users.
Analytics is one of the most exciting developments to affect the fields of sales and marketing. Thanks to their ability to analyze information, marketers and salespeople can work more efficiently to target the right audience with the right messages. While technology will continue to evolve, the role of data has become embedded within sales and marketing, meaning analytics will remain an important tool for these fields.