DESIGN OF SALES PERFORMANCE DASHBOARD BASED ON SALES FUNNEL & SALES FORCE AUTOMATION THEORIES: A CASE OF AN INDONESIAN ISLAMIC BANK

One of the bank management concerns related to sales performance is ensuring sales people perform the sales process correctly. Unfortunately, most sales people have problems in the sales process, which causes their low performance. Islamic banks in Indonesia also experienced this situation, so a strategy needs to overcome this problem. For instance, using surveillance tools such as Sales Force Automation (SFA) with sales funnel theory. An SFA tool is a sales system connected to computers and internet networks. It monitors sales processes and results, manages contacts, forecasts sales, and analyzes sales performance daily and monthly. Additionally, it helps sales forces to measure the ability to achieve targets, plan sales strategies and customer approaches, and increase work motivation. Also, raise awareness of developing skills, and provide up-to-date information to supervisors about sales force performance to determine the proper training. Therefore, the use of SFA tools is expected to increase the productivity of sales people in optimizing the fulfillment of deposit targets in Islamic banking. This paper reports the SFA design in the form of a dashboard model with a visual sales to funnel that shows the function of the salesperson in conducting the sales process ends with the results.

Digital Marketing Tools in Balancing Interests in Tourism

The main aspects of using digital marketing tools in balancing interests in the field of tourism are considered in this article. The analysis showed that a set of sales channels in the Internet environment and a set of tools are formed, depending on the marketing strategy of the tourist enterprise. Considered are the basic tactics and tools related to the concept of digital marketing. These are: the company's website, digital marketing channels - online channels for promoting and attracting customers: SEO, online advertising, email marketing, sales funnel, content marketing, teaser advertising, SMM, etc.. It is proposed to apply the theory of portfolio investment to optimize investment in digital marketing tools to achieve a specific goal. The article uses a method of building a mathematical model that will optimally distribute financial investments in digital marketing. At the same time, balancing interests in the field of tourism on the basis of digital marketing tools is proposed on the basis of KPI indicators according to the selected goals.

Stuck Online: When Online Engagement Gets in the Way of Offline Sales

In recent years, billions of dollars have been spent by both online and offline retailers on website design aimed at increasing consumers’ online engagement. We study the relationship between online engagement and offline sales, utilizing a quasi-experimental setting in which a leading premium automobile brand gradually launched a new interactive website across markets, allowing for a treatment-control comparison. This paper offers evidence of a causal effect of online engagement on offline sales, with the high-engagement website leading to a decline of approximately 12% in car sales. This negative effect is due to substitution between online and offline engagement; users of the high-engagement website exhibited a decreased tendency to seek out personal contact with a car dealer and proceed to offline engagement—a necessary stage in the car purchase funnel. We develop an analytical model of the online-to-offline sales funnel to generalize our findings and highlight the conditions under which online engagement substitutes for offline engagement and potentially decreases offline sales. Taken together, our findings suggest that while online engagement serves as a means for both product information provision and consumer persuasion, it may fall short in achieving the latter goal, as compared to the offline channel. For purely offline products, hands-on engagement is a necessary step toward purchase. Thus, increasing consumers’ online engagement may not be an optimal strategy if it has the potential to halt progression down the sales funnel and reduce offline engagement.

Improving Approaches to the Formation of Enterprise's Marketing Budgets

This article discusses the importance of optimizing advertising budgets for enterprises in the face of fierce competition for the consumer. It highlights the principles that business owners should consider when developing a marketing budget and notes the change in the influence of marketing in the sales funnel. The process of optimization of advertising budgets is presented.Also, the main approaches and methods of forming the marketing budgets of enterprises are highlighted. The method is considered in detail, taking into account the effectiveness of the use of marketing budgets. And recommendations are given on the allocation of budgets within advertising channels, depending on the goals and size of the enterprise.

CHANNELS FOR PROMOTION OF FASHION BRANDS IN THE ONLINE SPACE

The article’s purpose is to substantiate scientific and applied recommendations for the using of modern digital marketing tools to promote fashion brands. The subject of research is the theoretical foundations of the formation and operation of a system of priority channels for the promotion of brands of light industry enterprises in terms of increasing business risks. Methodology. The methods of scientific abstraction, analysis and synthesis, systemic, dialectical, expert, analogies and structural-functional research methods are used. Results. The study has shown that most of the world’s brands in the fashion industry determine e-commerce the main vector of their development. This is due to changes in consumer behaviour and due to the significant impact of the pandemic on the retail sector. There are highlighted adverse factors of development of Ukrainian fashion brands. It has been identified promising channels for promoting fashion brands in the online space. The use of User Journey Map and User Flow is justified to ensure the convenience of using the online store and reduce the amount of time spent on shopping. The key elements of the information architecture of the site are highlighted: cognitive load and mental models. The set of brand measures to encourage users to expand interaction with content (official advertising from the social network) (for Facebook, Instagram, YouTube, TikTok, Pinterest), advertising with well-known bloggers whose audience is similar to the brand’s audience (Facebook, Instagram, YouTube), mass following and mass liking (Instagram); mutual PR (Facebook, Instagram, YouTube, TikTok); Giveaway (Instagram)). Brand accounts must be fully consistent with the brand’s corporate identity and complement each other. There are shown the advantages of marketplaces in the promotion of goods of the fashion industry and the criteria for their selection in this market. There are determined the specifics of the use of social networks in the promotion of clothing and footwear brands. There are given characteristics of content in social networks Facebook, Instagram, YouTube, TikTok, and Pinterest. There are proposed options for the development of stages of the sales funnel for fashion brands in social networks. It is determined that the strategy of brand development should be based on the specifics of the range in social networks, the portrait of the target audience, the character and DNA of the brand. It is based on the capabilities and goals of social networks. It is stated that with the correct use of resources and opportunities of social networks it is possible to ensure the growth of brand awareness and increase loyalty to it. Practical implications. The results of the study can be used to develop strategies and tactics for promoting fashion brands of Ukrainian companies in the Internet. Value/originality. The value of the article is due to the presence of recommendations for choosing the most effective channels for promoting fashion brands in the online space. There are proposed the functionality of the online store for fashion brands, the criteria for choosing marketplaces, the relevant social networks for the promotion of brands and the direction of their coordination with the company’s website.

IMPACT OF SOCIAL MEDIA ON SALES FUNNELS IN B2C AND B2B SEGMENTS IN THE REPUBLIC OF NORTH MACEDONIA

The research focuses on introducing social media platforms as either a complementary or main channel in the company sales funnel. Internet technologies and Web 2.0 continue to provide innovations in digital marketing, with the latest iteration being lead generation services through social media. Data shows that almost half of the world population is active on social media, with the new Generation Alpha being projected to be entirely online dependent and proficient in the use of new technologies. The paper provides an overview of the digitalization of sales funnels, as well as the benefits that social media platforms can offer if implemented correctly. Secondary data provides the basis for transforming sales funnels with social media, where previous research provides limited data on the effectiveness of these types of efforts. Primary data demonstrates that introducing social media platforms can provide improvements of up to 3 to 4 times in analyzed case studies, as well as the shorter time when deciding about purchase in use case scenarios. Social media advertising can also be utilized to shorten the sales funnel process and serve as a unified point of entrance and exit in the first few stages.

PENGEMBANGAN BISNIS PADA STARTUP TEMANRINDU DENGAN METODE STARTUP EVOLUTION CURVE

Technological developments have made it easier for people to use social networks. Almost all people of productive age use the internet in their social interactions. The purpose of this research is primarily to provide a platform for TemanRindu to make its product prototype appropriately with the Lean Canvas business model and so Startup Evolution Curve as its method. The main principles of Startup Evolution Curve are providing step-by-step guidance in company discussions, business development of TemanRindu by Feasibility Study especially on market aspect so that shown the segment and position TemanRindu itself. Product prototyping or Minimum Viable Product (MVP) start from doing hypothesis verification that will be used on MVP adjustment. Slogan making and pipe and sales funnel are also be done that lately will be used to planning the marketing strategy. This method has succeeded on generating of TemanRindu’s market segmentation and positioning as well as the making of product prototype in the form of Instagram design based on Lean Canvas design. Its affect on increasing of business growth in followers, likes, comments and saves because the product has been more adapted to customer needs without reducing the added value that offered.Perkembangan teknologi menyebabkan semakin mudahnya masyarakat dalam menggunakan jejaring sosial. Hampir keseluruhan masyarakat usia produktif memakai internet dalam interaksi sosialnya. Tujuan dari penelitian ini adalah menyediakan sarana untuk startup TemanRindu dalam membuat prototipe produk bisnisnya dengan model bisnis Lean Canvas secara tepat dan dengan metode Startup Evolution Curve. Prinsip utama dari Startup Evolution Curve adalah memberikan arahan per tahap dalam diskusi perusahaan, dan pengembangan bisnis startup TemanRindu melalui Feasibility Study pada aspek pasar sehingga memberikan gambaran terhadap segmen dan posisi daripada TemanRindu. Pembuatan prototipe produk atau Minimum Viable Product (MVP) dilakukan dari verifikasi hipotesis yang akan digunakan pada penyesuaian MVP. Pembuatan slogan hingga uji komunikasi dan saluran distribusi juga dilakukan yang kemudian dapat digunakan untuk menentukan strategi pemasaran. Pengaplikasian metode tersebut berhasil menghasilkan pemetaan daripada segmentasi dan posisi TemanRindu di pasar dan juga terciptanya prototipe produk TemanRindu berupa desain kiriman Instagram yang berdasarkan atas rancangan Lean Canvas. Dampaknya pertumbuhan bisnis naik, baik pada followers, likes, comment maupun save karena produk telah lebih disesuaikan dengan kebutuhan pelanggan tanpa mengurangi nilai lebih yang ditawarkan TemanRindu.

CALCULATION OF THE DIGITAL TWIN OF THE SALES FUNNEL

Commercial activity has always been influenced by the competitive environment and its spread to the online space is the next stage of development and a defining trend for the nearest time horizon. The changes in the business landscape influenced by COVID19 pose new challenges for marketers and entrepreneurs. It is necessary to use the forced sharp increase in online interaction with consumers. The course towards the digital economy determines the use of scientific, mathematical methods to optimize the target indicators of economic activity. These global shifts in business interactions are generating innovative tools for measuring business results and transforming old practices to meet new market realities. This is the basic condition for the sustainability of doing business in any industry. This study is devoted to the development of a theoretical description of the process of multi-stage interaction with a consumer pool. To solve this problem, a mathematical model has been developed, the basis of which is digital information interaction, starting from the stage of determining the target audience and ending with the complete completion of a commercial transaction. This article presents the results of modeling sales funnel, as the basis for the software of a modern market analyst, using a cross-system approach. In contrast to the classical sales funnel, the presented algorithms allow using the multidimensional conversion funnel not only for assessing business results for the reporting period. Thanks to the flow of model arguments in real time, it becomes possible to optimize the business process by moving to the concept of leading economic indicators.In practice, this means the ability to implement effective business planning on digital platforms. The arguments of the mathematical model are Internet statistics, the dynamics of consumer preferences, the history of the business process accumulated in the big data system. At the same time, the means of queuing theory, differential calculus, economic and mathematical modeling are involved, based on indicators such as KPI (Key Performance Indicators), CTR (click-through rate), CR (Conversion rate). This made it possible to formulate the concept of a digital twin of a commercial process and its transformation, convenient for practical applications, into a conversion funnel for embedding into algorithms implemented on a computer.