Why you need data analytics
Using data analytics is no longer a luxury today – it’s a necessity. Why? Because data tells your organization’s story. You can’t move forward, capture and retain clients, reach growth goals or build profitability if you don’t understand what that story is telling you. That’s why data analytics is where your marketing effortss need to start, not end.
But isn’t data analytics just for large corporations?
NO!! Smaller business can reap incredibly effective benefits from applying lessons learned from data. Trend Measurements is an industry expert at working with smaller manufacturing businesses and other small organizations to apply marketing research strategies to data analytics, allowing your business to better interpret sales information, improve decision making and capture increased market share.
The benefits of a strong data analysis program include:
- Improved marketing ROI
- Once you know exactly who is buying which of your products and precisely where those people are, you can zero in on reaching them with laser precision. You can create tailored marketing plans that speak to your customers’ specific needs, introduce new products and services with confidence, and provide a personalized marketing experience
- Increased Sales
- Data tells you who your customers are and what they want. When you really know your customers, you can anticipate their needs and tailor your sales pitches based on what your numbers show. This will allow you to increase conversion rates, improved cross selling and upselling opportunities, reduce customer churn, build loyalty and focus on higher quality leads
- Building agility into your business
- When you understand what your numbers are saying, making swift decisions becomes much easiere and more effective. As a smaller business, you may even be able to used data to position yourself to compete against large companies by taking quick, effective action that takes bigger competitors longer to execute.
Check out the visual analytics for Federal Government spending from 1962 to 2017. Just click on the picture and be sure to check out the various tabs which have each government function with its own chart.
Federal Spending by Function 1962-2017 Presidential Terms Segmented
Federal Spending by each President from Kennedy to Trump