On a daily basis, a business generates a ton of data from marketing activities, sales projects, customer interactions, website visits, and more. Analyzing this data can provide insights regarding its performance, efficiency, and areas of improvement. In this article, we’ll explore key areas of business where entrepreneurs should utilize data analysis for making better decisions.
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Digital marketing campaigns play a central role in the success of all businesses. This includes regularly posting on social handles, designing paid marketing campaigns, improving the SEO performance of your website, and much more. Key metrics you should keep an eye on across these activities include:
● Daily website traffic with a division between new and returning visitors
● The engagement rate for all social media posts which includes the number of likes, shares, and comments
● Google SERP ranking of your website and blog articles for keywords you aim to rank for
● Impact on business revenue due to marketing activities
If your findings indicate that your marketing activities are not producing the expected results,
work towards making the following changes:
● Conduct customer surveys and collect feedback to understand their expectations from
your product and create a better line of messaging
● Experiment with new color schemes and social media post designs
● If you feel your logo is outdated, use a business logo creator for designing a new one
that will provide a fresh look and energy to your brand
Timely customer service is crucial for making a great first impression and retaining customers. Nowadays customers expect businesses to provide customer service on all platforms, namely — social media, website, email, and call. Understanding the number of customer service representatives you need will depend on the number of queries you receive.
For instance, on reviewing your customer service data, you’ve found a higher influx of queries over the last month, this is a strong indication of hiring additional personnel. This will result in queries being addressed promptly and customers having a positive experience.
Data can enable you to understand your customers’ behavior in ways you might not have considered. You can track a customer’s various interactions with your company, from social media to your website to email, to create a refined image of their behavior. This kind of application of data can help you better meet your customers’ needs at every touch point.
Further scrutiny of the data can help you find other areas of improvement as well. For example, if you notice a large number of customers having similar questions regarding your service, product, delivery procedure, etc., opt to create a detailed FAQ page on your website where you can direct customers.
Additionally, to reduce the burden of answering the same queries daily, install a chatbot on your website with automated answers to common questions. This will allow representatives greater time towards catering to queries of higher importance.
The days of conducting annual employee performance reviews are starting to fade away. As reported by Uptick, even major organizations such as Google and Adobe have moved beyond annual reports, and towards the real-time analysis of employee performance.
Real-time analysis of the workplace provides a stronger understanding of the organization’s current standing and
the opportunity to make timely changes.
To track employee performance across the organization, you can enlist the help of the following:
Project Management Tools:
As reported by Proof Hub, these tools make it easy for managers to assign tasks to employees, track real-time progress and ensure adherence to deadlines. As each task is assigned to a specific stakeholder, it improves transparency and accountability for the completion of projects.
This makes it easy for managers to spot employees who are struggling on projects and provide timely guidance and assistance to get them back on track.
Customer relationship management tools provide you with holistic data regarding your customer journeys. If your business is struggling to meet its revenue goals, reviewing your CRM data will help you spot which department is underperforming and take corrective steps.
If you are receiving a high number of leads from marketing campaigns, but they’re resulting in no conversions, it points to the need for training your sales team using a new pitch and instructing your marketing team to refine the targeting
for social media campaigns.
By implementing the above-mentioned steps you’ll develop a data-driven culture for your organization, leading to better understanding of customers, faster decision-making, higher productivity, and better performance than competitors.