Making Better Use Of Analytics In Your Small Business

Data rules the roost in business decision-making, these days, but a lot of small business owners make the incorrect assumption that this process is only applicable and relevant to big businesses. That’s not the case. Analytics can help businesses of all sizes, and to demonstrate that, we’re going to look at examples of how yours can start using them right now to improve a whole host of functions.

In your digital approach

The most obvious way to use analytics is to improve your digital marketing strategies. Gathering data about who your customers are, what their needs are, and how they interface with your business can help you better develop a message suited for them, in particular, while also working out which mediums and modes of communication are most likely to reach them and to result in traffic to your website. Analytics also rules the roost in terms of working out the best ways to optimize your website to make it a better lead-closing machine.

In your logistics

If you have products to manage, store, and ship out to your customers, then a data-driven approach is always going to help you make things a lot more streamlined. With tools like Zoho Inventory, not only can you track the goods you have now and where they are going, but you can better create estimates of when you need to restock items. Pre-preparing for demand can help you avoid shortages that could cost you sales.

In your customer support

Collecting the data based on your previous customer interactions can also help you get a much better idea of what future customer interactions are going to be like, on top of what you can do to alleviate strain on your support team. You can also gather data on an individual basis with CRM technology, allowing your team to better speak to the needs of every customer and to make it feel like they’re getting a truly personalized service.

In your product pricing

If you’re looking to profit as much as you can from every sale, then a static price may not be in the best interest of your business. With the help of tools like PriceShape, you can collect data that will allow you to adjust your price to ensure that it’s always in a position that’s most likely to garner sales while making you as much as possible.

In improving efficiency

Tracking internal KPIs with tools such as Datapad can help you get a much better idea of the productivity and efficiency of your team and internal processes, as well. Tracking data can help you better see when individual employees are having problems staying productive vs. when it’s a systemic issue affecting multiple of them, and can help you track the long-term effectiveness of any changes to how your team works.

Any business that relies on digital systems to improve their processes, internal or external, is going to benefit greatly from their analytics. The examples above should help you get a better understanding of that fact.