SaaS-based predictive analytics applications are helping B2B salespeople and marketers more effectively generate demand and win deals. IT application leaders must understand the dynamics of this emerging and rapidly growing category and identify providers that can support the business units.
- The market for SaaS-based predictive analytics applications for business-to-business (B2B) sales and marketing is still immature, populated by a combination of newer, smaller focused vendors and larger, more established vendors with a broader set of solutions.
- While it is not uncommon for B2B organizations to deploy predictive analytics applications from several vendors in the Market Guide to address different aspects of the buying and sales cycles, many of the vendors have started to position their offerings as suites that address three or even four of the five categories.
- The models and algorithms used by vendors represent their “secret sauce,” but most of them employ similar data science techniques. Product differentiation is generally based on the data used for their model (both the number of sources and types), the range of applications they provide and the amount of detail exposed within specific scoring models.
IT application leaders who support marketing and sales should:
- Investigate and adopt predictive analytics applications to improve lead generation and nurture marketing spend optimization and identification of companies and individuals most likely to buy your solutions.
- Investigate and adopt predictive analytics applications to increase sales productivity, opportunity close rates, deal size, margins, retention, and add-on revenue.
- Look at the specific requirements of your business and the companies that buy your solutions to determine whether to engage vendors that provide “best-of-breed” applications for single use cases versus vendors that offer suites to cover both marketing and sales use cases.
- Do not make purchase decisions solely on model performance during proof of concepts; also consider factors such as data sources, integration options, industry expertise and customer communities.
TopOPPS is a predictive sales tool that is innovating the sales process to drive faster closes, win more deals, and improve forecast accuracy. Today’s sales teams have higher expectations than ever before. Fortunately, technology like TopOPPS is innovating the sales process so companies have a predictable sales pipeline and predictable sales forecasting, while enriching the integrity of the data in the CRM. With smart analytics to define, align, and evolve sales processes, TopOPPS customers are closing over 90% of forecasted deals and have much more confidence in presenting forecasts. Thanks to predictive and prescriptive analytics, close rates are accelerating, reps are executing smarter, and forecasts are becoming more accurate.
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