iBankCoin
Joined Dec 27, 2015
146 Blog Posts

How to Collect and Use Data From Your Business

When it comes to modern business in the digital age, information is more important than ever. Your ability to collect information on your market and customers will determine how successful you are able to be now and into the future. So don’t miss out on this major opportunity to gain further insights. Use the proven tools and strategies below to collect and use data for your business today:

 

Big Data Platforms

Certain platforms, like Apache Kafka, will allow you to run big data collection and analyze this information to your liking. After you have collected it, put your team to work to find ways to sift through the information, as each sector will have valuable uses in your business going forward.

 

Marketing Surveys

Marketing is the lifeblood of any business. However, if you don’t collect data from your marketing, then you are basically shooting in the dark. This can lead to you wasting a lot of money that isn’t necessary. Using marketing, you can conduct surveys on your audience. Ask them what they like about your product or service as well as what they would like to see improved or changed. This is valuable, as the more you can cater to your audience’s preferences, the more profit you can generate.

 

Ad Tracking

Not all ads are created equal. If you want to avoid wasting advertising dollars, it is crucial that you treat ad as a salesperson online. They should justify their cost based on bringing back conversions or sales. Use tracking software to ensure that you are tracking the conversion data from each ad. Play around with headlines, images, and other aspects of your ads to ensure that only the most effective methods are being used at any given time.

 

Email Marketing

Email marketing is still one of the most powerful ways to grow your business. However, different emails will convert better than others. Run data analysis on open rates, conversion rates, and response rates to repeatedly refine your email marketing strategy.

 

Social Engagement

How much engagement are you getting on Facebook? How about Instagram, Twitter, or Google? You need to know what percentage of your audience is becoming engaged with your social campaigns, otherwise you could be wasting time on those platforms. There are a number of tools that allow you to track these kinds of results.

 

Web Page Analytics

Your website is your calling card in today’s world. The amount of traffic you get is one data vector to log. Another one is the source of the traffic. Thirdly, you have the actual conversion rate of different traffic sources. These data points will help you determine which referral sources to target.

 

Another key piece of information to collect is your engagement on the site. Using Google Analytics, you can track how long people are spending on your site. If they are hitting your site but then leaving right away, then you know you have a problem with keeping them interested. This means you might want to change up your content or focus on a design change to keep them interested in your offers.

 

If you want to stand out from your competition in the marketplace, then you need to find a way to collect and use more data than them. This is easier said than done. However, if you approach it from the right frameworks, you can achieve a well of great information that allows you to draw from it anytime you want. Then, you can put it to use in a variety of applications that let you serve your customers at a higher level and maintain a greater profit.

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