Does Data Matter?

When big data came on the scene it was virtually the buzzword of the century. All companies large and small wanted in. It’s funny, generally when you hear the words “big data,” they bring to mind computer technology and lengthy spreadsheets of aggregated information. Stuff that big companies hire little guys who wear glasses to figure out. But here’s in on a big secret: big data is really a marketing tool.

A recent public radio program on the subject reported that with big data in play, this scenario can actually happen: a pregnant woman can be driving down the road, and because her browsing has been monitored, she will receive a coupon/add for a car seat, which on sale at a specific box store, which she is likely to pass on her daily route.

That is targeted marketing! According to a popular Customer Relationship Management (CRM) firm, companies are collecting information about people, from every possible source, so that their marketers can get their products in front of you before you have a chance to consider the competition. People know their actions are recorded, in fact, they are literally giving the information away. So how can you start to wrangle data?

Can a CRM Collect Data?

As a business owner you know your customers, your industry, your sales flow and processes. So what can help you use what you know best? A smart way to start is CRM software! It can keep track of the data that is worth recording.

What Data is Worth Tracking?

Every business is different, so the data tracked is different. Ask yourself what you know about your business. Review statistical information like:

•                How many prospecting calls result in an appointment?
•                How many appointments result in a sale?
•                How many sales presentations result in a closed sale?
•                Which presentations are the most effective? In which market?
•                Which words or phrases are consistently initiating a purchase?
•                What is getting consumer’s attention?
•                What actions do customers take that let you know they want to do business with you?

Once you begin to dig into the deep well of data that your business yields, the need for an easy way to track it becomes obvious. Whether your business is large or small, the time has now come to implement a CRM. A cloud based CRM is fine for most small to medium sized businesses. But don’t stop there - CRM implementation is the beginning of the process. You must then put it to use.

Pile Up the Data

Now that you’ve reviewed the list above, you have a good idea of what statistics can help your company, choose a CRM and start collecting information. Your CRM may take some work to optimize, but it will pay off down the line. With customer data on your pocket you can learn and improve:

 

• What you do
• How you do it
• What works

Data for All

So don’t believe for a minute that big data is only for big companies. There is a CRM for every enterprise. Whether you choose an in-house offering or a cloud based application, you’re sure to find a scalable system to suit your needs. Now go out there and make full use of the data your customers are giving you!