We live in a highly digital age. For businesses, one of the major advantages this has offered is the sheer amount of data that you can gather if you want to use it. Knowledge is power, as they say, and to a business it has many applications. We’re going to be looking at three ways you can use the knowledge you gather to improve your business, from its image to its operations and beyond.
Naturally, when you think of businesses in the digital age, the transformation of the marketing landscape is one of the first things you think of. But it’s not just because you can potentially reach so many more people. The knowledge you can learn with these strategies, through taking a closer look at your competition and the data you collect from your customers can help tremendously. You can learn just what the competition is using that’s most effective in the market, as well as spotting the niches they’re not focusing on where you can put your own marketing emphasis. By reviewing your own data, you can see which content and promotions are working most effectively while trimming off those that aren’t working at all.
Marketing is only one step in the life-cycle of a customer, of course. After you get their attention, you want to complete the sale. Online, particularly in ecommerce, this means taking a look at your site. Web page analytics can give you an in-depth overview of which pages your users are using most and which internal links they’re clicking. Figure out what these pages and links offer and how you can replicate that same appeal across the site. If you have a search bar in your site, then look at the queries made through that, as well. This way, you can get a direct look at exactly what your customers are looking for. It might even help you spot some ideas for products that you’re not yet providing if there’s enough of a demand for it.
A smart business doesn’t only collect information about its customers and its competition. A smart business also takes a more in-depth look inside. Productivity and efficiency are essential to the success of a business. Monitoring your employees’ productivity can help you improve it. You might think it’s about finding which employees are lazy, but most often it’s about improving the tools they use to do their job. Using data to see which tasks slow them down, then automating them or using different processes to do them quicker and establish those methods as the rule from now on. That’s called systemisation and it’s helping businesses keep running smoothly all over.
A better and bigger public image. A site that can convert a lot more customers. A team that gets more done with their working day. These are just three of the opportunities that can be capitalized on with a business that’s focused on gathering data. Don’t underestimate the impact that a closer look at the numbers can have.