Today’s business landscape is more tech-savvy than ever. Considering just how much time our customers are spending online, coupled with the fact that eCommerce is absolutely booming versus brick and mortar stores, it’s no secret that data has become the name of the game for modern businesses.
Think about it. Numbers are everywhere when it comes to keeping track of our customers and crunching data to figure out how to balance our budgets. [pullquote]Modern companies are expected to be knee deep in data and analytics to make marketing decisions and survive an incredibly competitive business landscape.[/pullquote]
With the barrier to becoming a business online being so low, modern companies will continue to live and die by their data. Whether you’re considering Hadoop training as means of growing your knowledge base or are a complete newbie to the power of big data, consider the following reasons why the best businesses out there today are growing stronger thanks to hard numbers. If you should choose to pay more attention to your business’ stream of data we can almost guarantee that you will see significantly better results from your efforts.
You Determine What’s Working And What’s Not
Businesses can follow every rule in the book and still come up short.
Rather than guessing as to why a piece of content under-performs or why you’re not driving as much traffic as you’d like, it’s time to dig deep in your numbers to give yourself peace of mind and influence future business decisions. Such numbers include…
• On-site analytics, signaling how visitors are finding you and what aspects of your SEO you need to improve upon
• Your backlink profile, determining whether or not your organic outreach approach is working
• Your sales numbers, letting you know which products are driving customers versus products with little to no traction
A keen understanding of the aforementioned points can not only influence your on-site search performance, but also future product launches. Customer and visitor data are simply too powerful to ignore when it comes to driving traffic and making sales.
You Truly Understand What Makes Your Customers Tick
You can’t rely on your gut if you want to really get into the minds of your customers. Buyer behavior is influenced by a ton of variables; however, you can lock down what’s making your customers tick by understanding the following data points:
- Bounce rate, and which pieces of content and product pages are causing your customers to stick around.
- Shares and likes, as such “vanity” metrics can help you understand what types of marketing messages are breaking through to your readership.
- Heat-mapping technology, uncovering which types of calls-to-action and imagery catch the attention of your audience.
Understanding the aforementioned points can help you overhaul your marketing strategy and ensure that your website is optimized for conversions. These numbers alone have the potential to be transformative, granted you take the time to analyze them.
You Can Slash Your Budget
Likewise, you may discover that you’re spending money hand over fist on an SEO or social media strategy that simply doesn’t add up. By knowing your numbers inside and out, you can make informed business decisions that can bring your budget way down. From eliminating needless positions to cutting the cord with subscription services and software, you may be shocked at how much you can save when you have hard proof in front of you.
…And Stop Wasting Time
There’s always money to be made; however, time is the only resource you can never truly get back. From saving time in your business operations to finding time to enjoy your personal life, you should strive to run your company as efficiently as possible. This doesn’t mean being cold or heartless in terms of your team and day-to-day operations, but rather smart in the way that you run your business.
Simply put, modern businesses should be driven by data, not gut reactions and guessing. Start crunching the numbers today as means of transforming your business for the future.
The Importance Of Crunching The Data
IMAGE: SHUTTERSTOCKTags: Big data, business data, business success, company data, data analysis, guide to data success, heat map data, how to analyze data, importance of data
Categorised in: Business
This post was written by Richard Darell