Discover how data analytics can revolutionise your sales strategy as Simon Karacinski, Sales Director – EMEA at Lumenore, discusses the power of unified actions across teams.
In an exclusive interview with Simon Karacinski, Sales Director – EMEA at Lumenore, we explore how data analytics can bring teams together and drive sales success. By leveraging data insights, businesses can make informed decisions, prioritise opportunities, and enhance customer experiences.
Karacinski shares valuable insights on key metrics, overcoming data challenges, predictive analytics, and aligning tech, people, and processes for optimal results.
Excerpts from the interview;
How can data analytics unify actions across teams to ultimately drive sales success?
By analysing data on customer behaviour, purchasing patterns, and other key metrics, teams can gain valuable insights into what works and what doesn’t.
For instance, Lumenore can help identify and prioritise high-value opportunities to ensure your sales efforts and resources are allocated wisely. It can also help spot pain points and customer preferences, helping create targeted messaging and personalised experiences that resonate with the customers. Sales leaders who refine their strategies based on sales-behaviour insights see an average improvement of 20% in sales productivity.
By analysing data in real-time, teams can identify areas to improve and make necessary adjustments to optimise results. Advanced analytics also gives a shared understanding of business goals and objectives, allowing for increased collaboration and communication. Teams can make data-driven decisions backed by evidence, leading to better outcomes and increased sales success.
How can business leaders decide the key metrics that cross-functional teams should focus on?
The first step is identifying the organisation’s goals and ensuring the measured metrics align. To increase revenue, metrics such as sales growth, customer acquisition, and retention should be the focus.
Data should be analysed to determine which metrics can be measured accurately and frequently. If customer engagement is a key metric, leaders should have access to data on customer behaviour, such as click-through rates, time spent on the website, and social media engagement.
They should also ensure that the measured metrics are easily understandable across all cross-functional teams by using simple language and avoiding jargon.
Lastly, business leaders should consider how these metrics will drive action. Metrics should not just be measured for the sake of it but to drive informed decision-making by identifying areas for improvement and making changes accordingly.
What challenges do businesses face in finding a source of truth for their data? How does Lumenore work to overcome this?
One of the major challenges is the sheer volume and complexity of the data available. Most businesses have information spread across multiple databases, spreadsheets, and applications. This can often lead to inconsistencies and errors.
Lumenore works to overcome this challenge by providing a comprehensive Data Universe that centralises all of the business’s data into a single source, helping businesses easily access, analyse, and make decisions based on their data. With a unified view of customer data, companies gain a 360-degree view of customers and data silos are no longer an issue.
The Data Universe is designed to be scalable and secure, allowing businesses to add new data sources as needed easily. As a business grows and its data needs change, it can adapt to meet those needs. Additionally, it uses machine learning algorithms to automatically identify and correct data inconsistencies, ensuring that the data is always accurate and up-to-date.
How can businesses get started with predictive analytics?
Predictive analytics is a powerful tool that can help businesses achieve great results by identifying problems, building models, and testing and deploying them. However, it can be intimidating to get started, especially for businesses that don’t have a lot of experience with data analysis and modelling.
One way to get started is to work with a platform or tool designed explicitly for this purpose. Lumenore, for instance, has advanced capabilities and a user-friendly interface. It’s based on machine learning algorithms that can analyse large data sets and identify patterns and trends that may take time to get through. These insights can be used to predict future outcomes, such as sales forecasts, customer behaviour, and supply chain performance. This helps prevent 80% of business problems before they even happen.
It can also be customised to meet each business’s needs and goals.
How can business leaders better align tech, people and processes to maximise their relationships with technology partners?
Business leaders need to have a clear understanding of their organisation’s goals and objectives. Developing a strategic technology plan that outlines the company’s requirements is a great start.
An effective way to maximise relationships with technology partners is to establish open communication lines and work together to identify opportunities for innovation and growth.
Another critical aspect is ensuring all stakeholders are aligned and working towards the same goals. This involves providing training and resources to employees, helping them use technology effectively and aligning internal processes to be more efficient.
