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Research Outline
Prepared for Melaine F. | Delivered November 7, 2019
Top Trends in Sales and Marketing Consulting
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Goals
To identify the major trends in sales and marketing consulting, especially at the top firms like Mckinsey,
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and Accenture and consumer product goods consulting firms, to improve the current offerings and stay up to date.
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Early Findings
Omni-Channel Experience
In 2017, Jack Ma, founder of Alibaba, coined a term "
New Retail
" to describe the combination of brick and mortar shops and digital shopping experience. The new generation of buyers expect a more integrated approach across all business channels.
The major requirement for marketing and sales consultancies is to create retail strategies with
physical stores as well e commerce
experience to create an omni-channel customer experience.
Creating an omni channel marketing has a huge impact on sales as well and will require huge collaboration between these two departments. Companies with this strategy has seen a
9.5%
year-on-year increase in their annual revenue and retained an average of
89%
of their customers.
Data-Driven Marketing
Marketing consultants are highly expected to support their recommendation through data and
data driven decision-making
has become a fundamental part of every industry.
With increased cross-country data flow, more than
700 terabytes per second
, digital flow of information, searches, video, communication, and intra-company traffic continue to surge. This can be extremely overwhelming for the consultants and hence ability to determine the most suitable and accurate information is also important.
Companies driven by data based decision-making witnessed
4%
higher productivity rates and
6%
higher profits as per MIT study.
Artificial Intelligence
Artificial Intelligence (AI) is no longer a term restricted to the technology sector, it is rapidly becoming a powerful marketing and sales strategy tool.
Through
integrating AI to the marketing software
, it should be able to perform real time operations without external intervention, make optimal decisions for each contact in database and continuously make internal improvements through machine learning.
AI is a critical tool to analyze huge amounts of data in a short period to
create efficient sales strategy
and predictions for the future performance.
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