Abstract
Cross Selling has been used successfully by many organizations historically. The core idea behind cross selling is the consumer behavior of buying a product or service along with another product or service; which he or she may not have bought otherwise. Traditionally cross selling has been done using the gut feeling and common sense. With advent of statistic many organizations in retail industry started using analytical methods to identify cross sell opportunities. The key to their success was predominantly the robust historical sales database built over time and the option to choose from endless permutations and combinations of products which they could sell. But the enterprise or B2B businesses, especially in services industry, have not been so lucky; as the biggest challenge for them has been the lack of sufficient data and the high price of enterprise service offerings. We would like to share through this paper that how we succeeded in solving these problems and how one can apply market basket analysis on their sales pipeline data to not only improve revenue but to also cut down the operating cost. We strongly believe that this approach could be very useful for a lot of B2B organizations in the services industry with multiple offerings and limited budget to pursue all possible cross sell opportunities.
Highlights
HPE Enterprise Services (ES) had been challenged with its reduced sales opportunity wins across globe for last few years
We looked into the current sales pipeline to see who is selling the left hand side offerings of the association rule, so that they could be advised to sell the identified target offering alongside
We identify the accounts which have sold the left hand side offerings of the association rule in recent past, by looking at the sales orders data, to suggest target offerings that could be sold
Summary
HPE Enterprise Services (ES) had been challenged with its reduced sales opportunity wins across globe for last few years. HPE ES Leadership had been aggressively looking for every possible opportunity to boost its sales, with a lot of focus on winning new business and ensuring full and on time renewals; still the results had been less than expected. In the process of looking for alternative approaches, we realized that cross sells have taken a back seat and were being done intuitively. We showcased that HPE ES could increase its revenue but can increase its ROI, by using an analytical approach to cross sell
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