What exactly is data and how it’s used?
Simplified, data is information already collected on customers. Your business has worked with these people in the past. So, technically you’re still entitled to contact them.
This information was collected either thorough paper or digital sales receipts, quotations invoices, inventory records, cell phone numbers, emails, chat box messaging and social media. Some entrepreneurs have collected business cards while attending conferences or functions. Business cards collected owners has to permit for emails marketing promotions.
As a business owner this data is at your disposal for future usage. The objective to data collection is to utilize data for targeted marketing and promotions.
Everyone should strive to enlarge there data base
Large or small using your data base can mean an incredible amount of potential business. Whether you want to stay engaged or build new relationships you can do so with the data collected. Strive or thrive data means higher ROI and it’s a proven fact by Gartner Research Group and Canada Post.
Data collection is not new
It’s been around since 1970’s with popularity of the growing internet. Previously large organizations such as government, banks and insurances companies had access to information. Today, cross pollination between companies, brands, privatizations, collaborations, mergers and new partnerships data is purchased or transferred.
Google and Facebook are the biggest owners of data.
Xplor Global customizes data printing for more impactful engagement and for cross media marketing campaigns.
What is data used for?
Data is used for targeting customers with timely offers, promotions, coupons, events, grand opening specials or any type of announcements. Data is used to personalized your communication for effective marketing.
How to store data?
Data is stored on readable files. An excel spreadsheet is the simplest form of data storage. It can serve small to medium size businesses. Large organization have the option to outsource data filing or purchase software to fill the requirements. Next, data should be segmented according to categories or topics. Enter all information known about customers: name, address, gender, age, shopping habits, purchase amounts etc.
How to collect data?
Online businesses have Opt in Boxes to collect names, cell phone numbers, address, general geographical location and emails address. The information is automatically entered into a autoresponder and properly tagged. You can collect and identify people through their social media profile. This is another type of data storage and targeting.
If, you’re a mom and pop local business with old fashion paper invoices. Hire some one to enter the information into your computer. The next step is to move over to data storage.
Data is collected in various ways asking customers to do a survey, fill out coupons, draws, online options. Or, sending customers to a Personalize website where there information is entered.
Select data to analyze
Because data is widely spread across many topics. Decide what trends to focus on so your marketing campaign will be effective. For example: how many people shopped in store during long weekends? What did they purchase? Knowing the products purchased helps determine popularity in sale. In future your marketing campaign will be relevant.
Note. Data can only be assessed over a period of time either months or years.
Look for correlations
Once data is mapped on a chart, graph or bar it provides a visual for trends taking place? With some facts and figures as proof your team can tailor a profitable marketing campaign with relevant messaging.
Remember, what seems highly relevant for an 18-year-old could be intrusive to a 55-year-old. Only with data can marketers deliver great advertising experiences.
Fine tune and track responses
Here are some ways to use data to your advantage
Identify seasonal shopping trends and market related products or services.
Encourage bulk spending, bundle up related products to enhance the shopping experience.
Improve your marketing efforts. Personalized marketing or one to one communication is rapidly growing.
Utilizing data open’s doors to companies growth. Knowledge is power and he who know how to use it will gain understanding for generations to come.
As of now data collection and usages can excel your company for the next 10-15 years.
This is a snap shot of data collection and usage. Determine when you would like to begin and give yourself some time.