Hanna Dodd — November 8, 2017 — November 8, 2017
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Optimization sounds intimidating. It sounds fancy. It sounds expensive. In reality, optimization simply enhances business practices’ abilities to grow and increase revenue potential more efficiently and effectively.
Optimization – the process of finding the best solution or strategy based on proven analytics
We’ve determined seven signs that let you know that it’s time to invest in optimization.
Growth
Optimization provides more space for growth. If your company is reaching a stage of growing pains and you can’t handle all your accounts, optimization is for you. It creates an allowance for a greater number of accounts overall with varying levels of size compared to having a few large accounts that your business relies upon for revenue.
Shift the Focus
You’re looking make a change in your marketing and sales strategies. Marketing and sales optimization allows you to collect and test data gathered by customer engagement. The ability to test strategies with quick implementation and results helps businesses decide which ones to focus on. A balance is always needed, and data will help you find one.
High Acquisition Cost
If your customer acquisition costs have been rising, or you’re facing difficulties with creating a budget that meets your increasing needs, it’s time to optimize. Optimization identifies strengths and weaknesses in your business that you can capitalize on to cut down on costs and focus your budgets where they will find the best results.
Decreased Efficiency
Sales turnover and ramp time for new hires are two of the most damaging and draining side-effects of annual planning. Multi-year strategies enforced by data-driven solutions help mitigate the costs of annual planning. They help you increase your efficiency throughout the year and adjust plans over time.
Stop IT Development
IT development doesn’t equate to optimization. If you’re funneling money into IT expecting optimization, stop now. Optimization requires a focused implementation that acts within the marketing and sales teams. It operates outside of the Information Technology department, and its effects are widespread. Even though optimization requires technology and analysis, it directly affects planning, strategy, and budgeting within Marketing and Sales. It will revolutionize the way you utilize data to enforce decision-making within all areas of your business.
Customization
Customers want a personalized experience more than ever. The only way to earn brand loyalty is through building relationships with everyone. By optimizing your marketing and sales strategies, you can customize your marketing programs and sales allocations to each target segment. By better understanding what your customers want, you can customize their experience further.
Investment
Your business plans for the long-term. Optimization helps plan multi-year strategies for revenue, sales, and marketing goals. If your company is considering long-term options, optimization can help figure out the logistics with data that remains flexible to short-term results.
Optimization Overall
Overall, the seven signs mean your business is doing well; optimization just provides an extra amount of efficiency and effectiveness that drives success further.
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