If you’ve been reading our blogs you’ve probably heard the word ‘Data’ from us oh, about a jillion times by now. Well guess what, that’s because your data really IS that integral to the success of your business. Our team of business consultants would tell you that the way you use the data you gather can mean the difference between playing dress-up with your dad’s ties, walking around the house with an over-sized briefcase and actually going into work and making a profit.
The first step, of course, is to act like a squirrel getting ready for winter; gathering any and all bits of data associated with your company. This includes anything and everything from customer contact information, project statuses, client histories, financial statistics, sales records and so much more depending on your type of business. Much of this data can be gathered as you answer phone calls, and go about your daily operations. It may mean some extra effort on your part as well as your staff but will certainly pay off once you’re able to turn all that data into valuable information that can make you money.
The process may go something like this: Your latest prospect, we’ll call him Bob, has just made a phone call asking for information about your business. Before hanging up the phone you should not only know what Bob needed information about but you should also have, at the very least, his contact information as well as permission to follow up. From there, you can now track any and all of Bob’s involvement with your company and even include him in your next Emarketing campaign or Newsletter.
Imagine, having done this with all of your customers/prospects. You now have enough data about them to start turning it into valuable information such as, percentage of prospects that turn into customers, return customers, profits gained and TONS more. This gives you more insight on where to focus your efforts whether it be marketing, customer retention, sales goals and so on.
Putting your data to use may be one of the most important aspects of running your business which is why our data analysis and business strategy experts at Softech Solutions are here to help. We will work with you to streamline the way you gather and use your data so you can increase sales and retain more customers.