Great things happen when research and ad sales teams collaborate using data. The entire organization is aligned with the same business goals, ROI of data is easier to measure and the efficiency of each team is scalable.
As Rhiza’s Manager of Customer Success, I work with ad sales and research teams at some of the biggest media companies every day. One of the biggest challenges I encounter in media companies is getting researchers and sales people to collaborate productively. Once they start working with Rhiza they are making a commitment to solve this problem head on; I help them find ways to collaborate effectively and drive tangible results from their data. Sales and research teams that work closely together immediately see the value of data-driven stories. While working with our customers, I’ve seen how the union of sales and research positions the team to beat sales goals. At Comcast, one regional team earned $12 million in 12 months and another team at Gamut increased their average revenue per seller by 51% year over year.
All of the teams I work with share a similar attitude towards incorporating data into sales, and their impressive gains result from a philosophy and processes that support data-driven sales. In fact, their major successes can be distilled into six fundamental habits. These habits ensures that data isn’t just collected and stored, but strategically applied to generate revenue.
Earlier this December I had the pleasure of sharing these six habits as a speaker at the Pittsburgh Tech Council’s annual big data conference, I Love It When You Call Me Big Data. Speaking to data hungry local businesses on creating an environment that supports data-driven sales stimulated a lot of conversation. After all, there are plenty of organizational inefficiencies: as much as 25% of a sales person’s time is just spent looking the information they need. It’s even worse for researchers who spend 60-80% of their time simply trying to gather the right data – that’s $2.5B in lost revenue annually for a Fortune 500 company! But the opportunity is ripe for a smart sales team to take advantage of a growing market: spending on traditional broadcast advertising is expected to increase more than 5% in 2016, according to industry maven David Poltrack.
Is your team positioned to take a bigger piece of the 2016 pie?