In a previous blog, I shared that the first best step to data analysis is classifying your CRM and ERP data by end-market. In this blog, I provide the next steps to data analysis.
After comparing end markets, the next step is to compare individual product sales, segregated by sales territory, by each end market. This data should all be available through your CRM or ERP – or both. This might take some data cleansing, but it is well worth the outcome.
For example, look at the sales of MRO abrasives in Detroit to automotive manufacturers compared to the sales of MRO abrasives in Detroit to other end markets.
Once you have an idea where your sales are concentrated, it’s important to benchmark that landscape against outside data. Seeing into different high-potential markets can provide you with a sales and marketing road map. This road map allows your sales and marketing team to focus their efforts on directly growing your current accounts, and then focusing on new accounts that have the highest demand.