Are you capturing the total spend of your customers?
The answer is almost certainly “no,” even in your best product lines and strongest sales territories.
Your customers are certainly buying products from competitors, but how do you know what those products are? Wouldn’t it be incredibly powerful if your sales reps could run a report of the products that your customers are buying from other sources?
How Do You Report on Something That is Not There?
When customers buy product from your competitors, you have no data to compare. There is no history of the sales you did not make. How do you report on something that hasn’t happened according to your own data? Many distribution sales reps try to accomplish this on their own by comparing spending behavior for each customer with their product line catalogs. Yet we know that not every item in your catalog is a right match for each type of customer. So that work becomes tedious and annoying to your customers. Instead of providing value by introducing valuable complimentary products, your sales reps are constantly barraging your customers with unnecessary offers.
The Answer is Inside Your Segments
epaCUBE’s Sales Opportunities add-on for our Price Optimizer software can analyze all of your customers against the behavior of similar customers. With Price Optimizer, you are already using your segmentation analysis to optimize your pricing for improved profits with customers who are already purchasing from you. Now with Sales Opportunities you can flip that analysis 180 degrees to identify the customers who are not currently buying products from you.
In the most basic sense, epaCUBE’s Sales Opportunities add-on for Price Optimizer uses advance analytics to compare similar customers and then prepare a sales report for each of your reps that shows the gaps that those customers are not buying in each product line. It’s like a mind reader that predicts buying habits you can’t currently track today.
Upward and Downward Trend Alerts
epaCUBE’s Sales Opportunities takes it a step further by analyzing purchasing trends by customer and by segment. When a customer or group of customers changes their buying habits, your sales reps will get an alert. This allows them to proactively respond to changes faster than ever to secure your top-line growth goals.