The term “data science” can seem daunting. And it can leave us wondering how data science for sales is a ‘thing’. Big businesses have teams of people dedicated to this, so how can small business owners even begin to wrap their head around it?
The good news is, data science can be used in sales prospecting even if you don’t have a degree in mathematics or a background in computer programming. By understanding a few key concepts and utilising some simple tools, anyone can start harnessing the power of data to drive results.
What is Data Science for Sales?
Data science is the process of extracting valuable insights from data. This can be done using a variety of techniques, but at its heart, data science is all about understanding patterns and trends.
For example, imagine you own a pet shop and you want to increase sales of bird seed. You could look at your sales data for the last year and see that sales of bird seed tend to go up in the spring months. Armed with this knowledge, you could make sure you have plenty of bird seed in stock leading up to spring, run promotions around key bird-related holidays like Christmas and Easter, and so on.
In other words, data science helps you make better decisions by understanding what has happened in the past and using that information to predict what might happen in the future.
How to Use Data Science for Sales Prospecting?
There are endless ways that data science can be used for sales prospecting, but here are three simple examples to get you started:
Look for patterns in your customer data
By analysing your customer database, you can look for patterns that will help you segment your customers (or potential customers) into groups. For example, you might segment them by location, age, income level, or interests. Once you’ve segmented your audience, you can target them with more personalised and relevant messages.
Analyse social media data
Social media provides a wealth of valuable data that can be used for sales prospecting. By analysing posts, comments, and hashtag usage on platforms like Twitter and Instagram, you can gain insights into what people are talking about, what they’re interested in, and what they might need or want. This information can then be used to create targeted content and ad campaigns designed to capture leads’ attention.
Understand your competition
Keeping tabs on what your competitors are doing is always important in business. But with data science tools like web scraping, it’s easier than ever to gather data about their online presence (website traffic, social media followers, etc) and use it to your advantage. For example, if you see that a competitor is losing website visitors month over month, that’s an opportunity for you to swoop in and try to capture those leads yourself.
Data science doesn’t have to be complicated or difficult to understand—and it doesn’t have to be left solely to giant corporations with huge budgets. By utilising some simple tools and techniques, even the smallest business owner can start using data science to drive results. So what are you waiting for? Get started today!