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How do consumer insights support the sales process?

What does the “new normal” look like after Corona? The likelihood is quite high that the uncertainty for manufacturers and consumers caused by the effects of Covid-19 will continue for some time. For industry and retail in particular, the question is how to attract and retain customers and partners over the long term.

Consumer insights are key to driving more sales. That’s why our customers are asking how to use data-driven insights to support the sales process?

Many companies already have a lot of data and insights about their customers. This includes, for example, the CRM, emails, ticket systems or market research. The key problem, however, is unifying the different data silos: how to aggregate customer feedback from all pots?

Sales teams need a summary of all data to better understand and predict customer needs and preferences. Only then will consumer insights truly support the sales process. But it’s not so easy to aggregate and organize the data because it’s mostly colloquial texts from a wide variety of sources. Who can read and summarize hundreds of thousands of texts?

In addition, customer communication is growing by about 20% per year, which makes the problem even bigger.

To gain valuable insights for sales, the process for data processing must be automated. To solve the problem of data silos, text data must be unified and made readable by machines. The next step is to remove all information that does not add value, such as spam and advertising. Artificial intelligence (AI) can then be used to reduce the texts to the essential topics and extract the quintessence.

This gives sales experts an overview of what customers want in terms of product and service.

For more interesting insights on this topic, listen to the following podcast with our CEO DR. Korbinian Spann.

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Dr. Korbinian Spann
18. July 2021