Sales and marketing are two of the most important skills recommended by experts and affluent business persons worldwide due to their close linkage with the art of persuasion. The art of persuasion is the main headliner for two of the mentioned careers, and better persuaders often become exceptional sales and marketing professionals.
Even with hundreds and thousands of new entrants every year, the industry seems to get hungrier by generating more demand. Apart from understanding the dynamics of persuasion, marketing leadership courses often promote the recruitment to read and understand data, another integral part that determines one’s success. While persuasion can be polished, great marketers and thought leaders earn most of their success from being able to read data and predict patterns.
This blog highlights the close relation of big data and how it plays a pivotal role in determining the success of a renowned marketer or sales professional.
Shifting From Assumptions to Insights
After the digital transformation, the world of sales and marketing witnessed a transformative shift in the last few decades. One of the most sought-after traditional approaches included making educational guesses on the market trend, customer preference, and hoping for success.
However, with the implementation of data, businesses and marketers worldwide have seen more success across several marketing campaigns. Further, to cement the importance of big data in the current marketing spectrum and ongoing marketing leadership courses, McKinsey conducted several types of research for the same. Per their research, companies that rely on big data are 5-6% more profitable while further enjoying a 15-20% higher return on investment.
Such research from reputable sources emphasises the role of big data, with the premium institute acknowledging the same and making the needful changes in their marketing leadership courses.
Role in Optimising Marketing Success
Any action taken by an individual is stored on the word wide Web in a data format. Per the estimates, the current data garage surpasses 64.2 zettabytes in 2020, which is forecasted to increase to around 180 zettabytes by 2025. Everyone can access most information, and these data mainly depict the online action of certain users, groups, or demographic.
Data are reference points which allow marketers and sales professionals to generate insights for their future or ongoing campaigns. When focusing on selling a particular product or service to a target group, marketers can collect, read and interpret the relevant data pertinent to that specific group. It allows such professionals to create extremely relevant campaigns and content, which ensures exceptional results. It further highlights the requirement for data analytics in a sales and marketing leadership program.
Enhancing Sales Performance Through Big Data
The use of big data is similarly relevant and important in the sales industry but in a different way. Primarily, well-poised sales professionals are great at objection handling, coupled with persuasion. Big data acts as a cheat code for such individuals, sales professionals can identify such objections, allowing them to prepare beforehand.
As a headliner, objection handling and using big data to identify and overcome such objections is one of the major subjects, the IIM sales and marketing course focuses on. Furthermore, most of the sales and marketing leadership programs teach this crucial skill.
Most of the optimisation is done during a campaign, but big data also applies in accepting or rejecting an idea. This idea can be a product, a campaign, or an online event. Deriving crucial insights from the existing data stores is working incrementally well for such professionals worldwide.
Furthermore, identifying trends, behavioural patterns, and in-demand products through the accurate interpretation of big data further cements success beforehand. Owing to such insights, marketers are also being able to create hybrid-product combinations, which allows them to serve their customers at a higher level and earn more profit from a single transaction.
Ensuring a higher success rate, students of different marketing leadership courses are expected to be able to extract, understand and implement the insights gained from big data in their future campaigns.
As an extremely lucrative field, professionals who can read and interpret data are more likely to succeed in their marketing campaigns when compared to their non-data-savvy peers. Therefore, it is of utmost importance for aspiring students to only consider a sales and marketing leadership program where they can actively learn to use big data. Imarticus offers one such program, which is the Executive Management Programme In Sales & Marketing Leadership, provided under the guidance of IIM Lucknow.