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What is “return on sales” and how to improve it?

QYMATIX

median ROS and from non-depository credit institutions (brokers, insurance or investment firms). Once again, predictive sales analytics is a powerful tool for reducing customer churn, improving customer retention, and supporting cross-selling.

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What is “return on sales” and how to improve it?

QYMATIX

median ROS and from non-depository credit institutions (brokers, insurance or investment firms). Once again, predictive sales analytics is a powerful tool for reducing customer churn, improving customer retention, and supporting cross-selling.

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The five most frequently asked questions about predictive analytics

QYMATIX

Companies have also long used predictive analytics techniques to make data-driven business decisions. It started in the insurance industry. Predictions about the risks of insureds were calculated based on various characteristics. “How does Predictive Analytics work? The list could go on and on.

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Define and reduce customer attrition in the subscription industry

QYMATIX

Customer attrition can represent a 24 % average in office supplies, 16 % in the insurance industry and 13 % in banking. Identifying the root causes of customer attrition is a process commonly supported by advanced sales analytics. B2B companies can expect an average annual customer churn rate of around 11%, a recent study found.

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Sales Psychology: Why Manipulation is Out in Sales

QYMATIX

For example, an insurance agent sells an insurance policy to an elderly lady, knowing that she does not need it because of her advanced age. The insurance agent deliberately uses psychological sales tricks to manipulate the lady into signing the contract in the end.

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The Evolution of Artificial Intelligence and Machine Learning

QYMATIX

That is especially important in the insurance, financial, and e-commerce industries. Companies can use predictive analytics to anticipate production, supply chain, or customer service bottlenecks and take appropriate action to avoid them.

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How to measure sales success correctly

QYMATIX

The fact that sales miss the mark is something we can see every day in the insurance sector, for example, when life insurance policies are sold to very elderly pensioners or in the IT sector when unsuitable or oversized systems are sold.