Having the right information can be the difference between having a successful company, and going bankrupt. You’ve got to know what you’re spending where. You’ve got to know what investments are lucrative, and which ones are only costing your business without rendering any true benefit.
Thankfully, today’s digital world has a plethora of data harvesting solutions. There are many tools out there which can help your business cut costs while optimizing operations; like Clockspot.com, which allows you to: “Track employee time from anywhere.” Using a solution like this can help you trim the fat.
A timekeeping application that allows your employees to clock in remotely can more exactly manage payroll. In fact, you can make some serious reductions on personnel in that department, which can mean big savings over time. Payroll can be done with the click of a mouse.
While infrastructural enhancements like this are worth pursuing, some of the most successful data-collecting solutions come in the area of marketing. Before, marketing numbers were almost theoretical in nature. Now, you can exactly determine how many hits a given marketing putsch is producing.
When you’re considering any data-driven marketing strategy, you can’t exclude SEO, or Search Engine Optimization. This innovation in modern marketing makes it possible for businesses to sort of carve out a permanent “niche” on the web—a bit of digital real estate, if you will. SEO consistently yields high ROI, or Return On Investment.
That ROI is silhouetted in data pertaining to effectiveness. SEO organizations primarily trade in data. For example, keywords have statistical levels of effectiveness. The right organization can help your business choose the best keywords for your online content.
Considering Possible Numbers
There are many different things which define successful marketing campaigns today. Demographics are very important. What kind of people are interested in your products or services? Of those who are interested, what percentage regularly buy? How many times does your content need to be viewed before a purchase is made?
Let’s consider a hypothetical. Imagine that 1 out of 100 people are converted when they see your content. Now imagine you can increase that number to 25 out of 100 people converting because you enhance your marketing to appeal to those most likely to buy from you.
Today, digital profiles are collected by businesses on potential buyers. These profiles are used to direct marketing efforts such that they are targeted toward more probable customers. Once you’re able to identify who is more likely to buy, you can create content which will be more effective.
SEO optimization produces content which essentially carves out a digital real estate niche online which continues to deliver positive income over time. You can directly see how the change you make in one portion of your marketing plan either causes an increase in clicks, conversion, and interest, or does essentially nothing.
Mobile and cloud-based applications are becoming increasingly common. It is often expected that a given business will have some kind of application for download. For example, if you ran a chain of auto stores, you could conceivably design an application which alerted clients when specific parts became available.
The application works as a utility for clients, and it additionally functions as a marketing tool that actively increases sales conversions over time. But there are some considerations in terms of data that can’t be ignored as you apply such solutions. For example, your application is likely to have bugs in it initially.
Most applications have errors after they are rolled out. It’s a common aspect of software, and that’s why you’ll see “beta” versions of popular programs right after they’re released to the general public. Human engineering is exceptional, but it isn’t perfect. You need ways of collecting data on errors and operations to maintain applications.
If you really want to achieve some top-tier metrics, it makes sense to use services like Stackify who, according to the site, provide: “The only developer tool that delivers app performance metrics, errors, logs, and monitoring in one tool across all environments.” Solutions like this give you exceptional data around which to manage your applications.
Additional Information Considerations
Infrastructure was touched on earlier. While it doesn’t represent a direct echelon of marketing, how well your infrastructure is put together does affect marketing tangentially. If you don’t have to spend as much running your business at a base level, you can increase the funds you devote toward marketing endeavors.
Earlier online timekeeping solutions were explored, and these cloud-based applications can save you substantially on infrastructure. Cloud computing in general can be a great way to attain data while consolidating and streamlining operations. One area of operations where there are a lot of redundant costs pertains to sales between businesses.
One of the best ways to streamline your B2B (business-to-business) transactions is to cut costs in transaction processing fees. If you’re regularly purchasing products or services from another organization, say to the tune of 100 purchases business-wide daily, a dollar savings per transaction will save you between $2,800 and $3,100 a month.
Altogether, marketing stands to see substantial benefits through more astute collection and application of available data. If you use technology to additionally refine your business’s infrastructure, you can free up more assets for greater marketing efforts. If those efforts have data behind them, they’ll be more effective, and you’ll ultimately see an upward spiral of profitability.