Despite the recession being “over”, the average debt levels of Canadian families is still on...
Optimizing the Sales Team and Activities
Leveraging underused databases with advanced statistics and analytics
Situation: The brand recognized that their sales team had a lot of potential that wasn’t being optimized. Inefficiencies in team structure and sales strategies were holding them back and action was necessary in order to elevate their sales activities and increase revenue.
Tactics: The brand had access to a massive, underused database of financial and organizational transactions. The database, consisting of millions of records and thousands of variables, was carefully reviewed to understand all of the components and contributing factors, and cleaned for the purposes of analytics (e.g., checked for duplicate records, coding errors). We then conducted rigorous statistical analyses, including multiple regression techniques, to test and refine hypotheses, and build scenarios for success.
Impact: The analyses revealed a very clear way to restructure sales that, upon implementation, would have a positive impact on the business. Consequently, the sales team was re-organized, and greater priority was placed on the sales and marketing activities that had been identified as more likely to increase ROI. As a result, the brand has since experienced positive growth.