Sales TechStar Interviews Jonathan Chin, Facteus Cofounder
Discover What Sales Teams Can Learn About Cross-Shopping, Competitor Market Share, AI & More from a True Industry Leader
Recently, Facteus Cofounder Jonathan Chin sat down with Sales TechStar to discuss how B2B teams can leverage some of the latest AI tools to refine and enhance their data policies and practices.
Kicking off the discussion, Mr. Chin explained how sales and marketing teams across various industries can gain valuable insights and intelligence regarding their customers, their competitors, shopping trends, and the market in general.
Specifically, Mr. Chin delved into cross-shopping, detailing how it’s a potent metric that can uncover valuable insights into your customer shopping habits. That means showing sales teams precisely where customers shop — and the competitors they patronize. With this information and the right transaction data in hand, it’s possible to detect spending trends, customer behavior patterns, and how much customers are spending with a given brand versus their competitors.
How Sales & Marketing Teams Can (Better) Leverage Transaction Data
Delving into the power and applications of transaction data, Mr. Chin shared some key strategies for using this information, particularly with the intent of gaining competitor intelligence. Some of those strategies include using shopper spending and transaction data to:
Zero in on competitors
Which companies are true brand competitors, based on product/service offerings, location, target audience, and more?
Answer that question with eye-opening consumer transaction data.
Segment a customer base
How are customers across different demographics interacting with a brand or making purchases from a company? What does the spend look like across different generations or other demographics?
With consumer spending data, you can segment customer bases better, empowering you to refine, personalize, and better target customers via sales and marketing efforts.
Analyze cross-shopping behavior
Get better eyes on how much consumers are spending with your brand versus competitors to see opportunities for closing the gap and getting more consumer spend going to your brand.
Check out the full interview here and explore more fascinating insights and resources below:
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