July 1, 2017

Three Tips for using Machine Learning to Automate Sales Prospecting

The following is a guest post by Alexander Brooks.

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Sales organization waste most of their time prospecting instead of closing deals. Studies show that over 98% of a sales professional time is wasted on prospecting. Machine learning has the power to supplement the heavy lifting of prospecting through automation. Today we're going to cover three tips for automating your prospecting.

1. Gathering the Data

Anything that can be tracked can be improved is more than a cliche statement. Start with creating an efficient process to track all sales related behavior and decision making using a customized CRM tool. Get Everyone involved by creating a lead rating system and a record of thoughts and actions on every account. This process will eventually provide you with a solid understanding of what information is important to the sales team.

2. Identifying Important Data

Gathering the right data is a key factor in building a robust prospecting tool that serves your organization's success. This is a tedious process that involves multiple revisions along the way to make sure you're asking the team the right questions. I suggest starting with assumptions and then collecting a consensus on better questions from your team. Expect several iterations of refining your questioning process. These questions should be focused on what makes a lead good or bad and why.

3. Consulting Machine Learning Expert

Once you have enough data it's time to partner with a expert to start the automation process. The effectiveness of this process will depend on the amount and accuracy of data collected. One of the most cost effective ways to implement a automation model is through hiring a consultant to design the tool. This will keep your cost down compared to hiring a full time data scientist.

With automating the prospecting, a sales manager and sales person can focus more on closing and up-selling opportunities. No more wasting time on prospecting when marketing should be focused on nurturing prospects. Capitalize on spending more time engaging with a prospect that’s ready to move forward.

At Entreprov, we assist small and medium sized businesses get more customers and extend life time value of current customers through machine learning and business strategy.

Alex Brooks is the founder and CEO of AE Brooks, LLC (d/b/a Entreprov), a Seattle-based firm that helps small and medium-sized businesses increase their customer base and extend lifetime value of current customers through machine learning and business strategy. Mr. Brooks may be contacted at alexb@entreprov.com.

2 comments:

  1. Hello Aaron,
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