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Predictive Analytics Linked To Increases In B2B Profits

Predictive Analytics Linked To Increases In B2B ProfitsWhile many published examples of successful Predictive Analytics projects come from B2C brands, the B2B industry can also greatly benefit from these techniques. Many B2B companies have closed more leads and increased sales by a substantial amount after adopting predictive analytics. These companies were able to determine which products and services that a prospective client would most likely purchase, create more accurate sales forecasting and nurture connections who were not ready to buy from them at that moment.

Using data from several easily attainable sources, such as a client’s CRM and public records that show information about company income, press releases and employee numbers among others, companies can identify shared characteristics of accounts closed by sales, and then predict the chances of winning new prospects. An example of this practice is when a company contacts prospective clients when they move to a new location or publish a press release about their extended hiring or expansion.

Thanks to this data, sales departments are armed with better leads and more detailed information about individual accounts, drastically reducing time spent on research. Marketing teams also gain better potential accounts that they can nurture. Improving current accounts and gaining new ones are also great benefits of predictive analytics.

B2B companies currently using predictive analytics have seen as much as double digit rises in opportunities and sales. Being an early adopter of this technology has paid off for them very well and the increase in leads and profits has caused their competitors to scramble to keep up. Now that more and more enterprises are joining the predictive analytics movement, those who are actively using this technology can see even better results!

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