Leverage Data to Boost Sales

Leverage Data to Boost Sales Researchers have noted that business data is a severely underused tool in sales and marketing.

In fact, only 0.5% of available business data is used to a business’ advantage.

There are many ways to take advantage of underused data, and by utilizing a few of these tips, you will be able to move your business forward.

Tips for Harvesting Data One of the easiest ways to look at data is by consulting business directories, such as a business directory of Mississauga. Canadian local business directories are a great way to find companies who might want to do business with your company. A business directory of Mississauga, for example, lists

businesses by location, by niche business, by size and by the amount of activity. Whether your Canada company list is a current version or a couple of years old, you should be able to glean valuable information to help you make decisions.

Why would looking into a business directory of Mississauga help you find new business? Here’s an example of the usefulness of data. You have just invented a fabulous new gift line for women who are stressed and in need of some pampering and self-care. Curated gift boxes are all the rage now, and you know that you’ll be able to make a profit. However, you need to find retail companies who are willing to move your product. You want to expand your contacts--but how? You can use Canadian local business directories to compile a list of companies that might be willing to market your products, and begin making contacts.

You also might want to analyze your historical data from your past sales years from your company. Company sales data is a gold mine when you are looking to boost your sales. There are programs you can use on your computer to compile the data for you. In fact, you may want to compile your past sales data before you start to look in Canadian local business directories for new leads. Don’t forget that sales data can be used to make sales forecasts as well.

Data harvesting can also help you price your products. This is monumentally important, because if you price your new product line too low, your profit margin disappears, and if you price your product too high, no one will buy it.

By looking at sales data from similar products, you’ll be able to place your new product in the perfect spot for fabulous sales.

Taking a look at data, whether past data or current data, can help you grow your list of clients and customers. You’ll be able to continue to expand your profits, and introduce new product lines, because you can target the customers who will want your new product from the data. Not sure where to start? Start by digging into the business directory of Mississauga, so that you will have a ready list of potential clients for your company to continue to grow.

Source - https://vocal.media/journal/leverage-data-to-boost-sales