Using Data To Boost Your Digital Business
We will provide guidance on why maxing your data matters!
Businesses have long realised the value of data. It was previously common to collect such data through mail surveys and door-to-door interviews. However, these methods have become outdated and the availability of business data has grown hugely with the rise of the internet. From website click-throughs to social media likes, there’s so much digital data that businesses can tap into.
It’s little wonder that 99% of organisations are investing in big data and AI. However, the data must be analysed and the results put to best use for the greatest impact on your business. As Peter Sondergarrd, Senior Vice President of Gartner Research has said, “Information is the oil of the 21st century, and analytics is the combustion engine”.
Digital data might be collected in the following ways:
- Website contact forms
- Checkout/point-of-sale (POS) systems
- Surveys/user reviews
- User profiles
- Event sign-ups
- App installation.
Gaining Customer Insights
The analysis of digital data can tell you a great deal about your existing and prospective customers. As an example, you might use Google Analytics for the investigation of data collected through your eCommerce store. You could find out everything, from the amount of time that visitors are spending on particular product pages, to the percentage of conversions after products are placed in the website shopping basket.
These website metrics might also be analysed:
- Number of visitors
- Average session duration
- Bounce rates
- Top traffic sources
- Exit sources.
You might use a variety of methods to encourage the sharing of customer data. Personal details such as age and location might be asked in exchange for free downloads of ebooks and other information sources. You can use such data in the creation and improvement of customer-focused marketing campaigns.
Predicting Patterns & Trends
Digital data can reveal a great deal about the trends that are likely to play out in your market. The continued monitoring of such data should allow you to make business predictions with a good level of confidence. As an example, you might find that there’s seasonal variation in the level of demand for your products. This may have a direct bearing on the amounts that you choose to spend on marketing over the year.
Social media is a particularly rich source of data on emerging trends. The monitoring of chats on Facebook and Twitter could reveal changing concerns and levels of interest in particular products or services. You can ‘listen’ to these chats and make predictions about customer buying patterns – focusing on whatever is to become the next ‘big thing’.
Making Data-driven Decisions
As Carly Fiorina, former chief executive officer, Hewlett Packard, says, “the goal is to turn data into information and information into insight”. You should be prepared to follow up on the collection and analysis of digital data – basing decisions on your findings for the best chance of business success. This might mean using the gathered data to create audience profiles that can be used in the roll-out of tailored digital campaigns. The digital findings should have a bearing on your choice of social media platforms and the content that you share.
Get In Touch
With such a wide variety of sources and metrics, you may be unsure of your ability to gather and make the best use of digital data. Thankfully, you can rely on the expert support of thefingerprint. We can help you with everything from the creation of on-brand social media content to the design of appealing e-commerce websites integrated with Google Analytics. You can count on us for guidance in the monitoring of big data and the optimisation of your digital content.
If you are enjoying this article please read our blog Why you should link your website to your CRM, Using OptinMonster to drive engagement and sign up users to blogs, Why writing a blog is important for business and SEO or Why Using a Sales Funnel is Critical for Lead Generation all of which are important to reaching clients and increasing sales/business opportunities.