Business data is now more critical than ever. Data can help you improve your marketing, cut down on costs, and increase sales. Let’s dive into an overview of key data points and the importance of business data to business success today.
Ready to dive in and look at data points you may need to dig into deeper to improve your business? Let’s go!
VIDEO: The Importance of Business Data to Business Success Today
Details: The Importance of Business Data to Business Success Today
Data is more important to your business success than ever before.
From website traffic stats to website speed and social media impact, data can help you review and channel what you do on the web. Data is also critical to your business efficiencies and sales processes. By giving customers or dealers access to data you can help take away bottlenecks, improve speed, and allow people to buy more easily.
Here are areas of data to review for your business:
Google Analytics for site traffic, time on site, time on page, bounce rate, traffic sources
Alexa ranking and links – watch for trends over time
Google Search Console – for website speed, structure issues, leading new pages
Lead capture – results, captured lead nurture plan, conversions
Ecommerce – orders, top products, existing customer sale nurture
Traffic from social to the web
Video watch stats
Email captured for nurture
Cart abandoned rates and follow-up
Upsell relevant items
Data Access for Customers, Dealers, Distributors
Warranty Claims Submissions
Warranty Claim Status
Build a Product stats
Build a Product most used, abandon stats
Lead management sharing
All of these are key data points that can potentially help your business if reviewed and used. By analyzing data you can get insights for your next moves, what marketing is working, unseen opportunities and more. The key is access to and reviewing the data.
As well, data can build efficiencies where you had bottlenecks before. By giving dealers ability to register warranties and submit warranty claims online, as well as manage the process online, it can reduce friction, and increase OEM parts ordering.
Final Business Data Takeaway
Have you evaluated your data points lately? What data should you be watching that you are not? And what data should you be using that can help you grow your business that you are not? Don’t get overwhelmed by all the options. Start small with a “doable” data project and get it working for your business this month!
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Why the Halftime theme Mike?
I’m an Indiana Hoosier native where basketball is the top sport. Every team heads to the locker room at halftime to evaluate the first half and create an updated plan for the second half. That plan includes adjustments based on reviewing what worked and what didn’t. The “halftime” is a key review point where the game stops, the team pulls away to huddle in the locker room away from the fans, and they come out prepared and ready to succeed in the second half.
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