Data Collection allows for analysis of a vast amount of details and information that simply would not be possible without such data. The reality is that you simply can't do that without collecting data and using it to inform everything about the way you market your products/services to consumers.
If you want to outrank your competitors, increase your conversions, and establish a sense of trust and transparency between your brand and your market, data will be able to tell you which of your marketing campaigns and tactics your target audience responds to the most and prefers.
We know that you're always looking for the most effective ways to grow and organize your company database -- and collecting customer data can certainly help to make that happen. Meaning you can reach out to them about future opportunities, improve your lead generation strategy, and better gauge the actual level of interest a consumer has in your company.
Roughly 63% of consumers say that they expect personalization from the companies they work with when it comes to marketing and product suggestions, order confirmations, and any sort of communication between themselves and your business.
The data you collect can help you analyze how well a certain product or service worked, what consumers are demanding and what alterations need to be made for improvement. This information is valuable because it allows you to identify the source of the issue and correct it without having to exhaust a significant amount of time and resources.
Data makes it much easier for your company to understand what your customers want from your company, the specific products/services they're looking for, and even how they prefer to interact with your brand. When you know more about your customers, you can tweak everything about your business to better fit their needs.
Data = Knowledge. Good data provides indisputable evidence, while anecdotal evidence, assumptions, or abstract observation might lead to wasted resources due to taking action based on an incorrect conclusion.
Data will help you explain decisions (both good and bad) to your stakeholders. Whether or not your strategies and decisions have the outcome you anticipated, you can be confident that you developed your approach based not upon guesses, but good solid data.
Data increases efficiency. Effective data collection and analysis will allow you to direct scarce resources where they are most needed. If an increase in significant incidents is noted in a particular service area, this data can be dissected further to determine whether the increase is widespread or isolated to a particular focus.
Good data allows organizations to establish baselines, benchmarks, and goals to keep moving forward. Because data allows you to measure, you will be able to establish baselines, find benchmarks and set performance goals.
Funding is increasingly outcome and data driven. With the shift from funding that is based on services provided to funding that is based on outcomes achieved, it is increasingly important for organizations to implement evidence-based practice and develop systems to collect and analyze data.
Data allows organizations to measure the effectiveness of a given strategy: When strategies are put into place to overcome a challenge, collecting data will allow you to determine how well your solution is performing, and whether or not your approach needs to be tweaked or changed over the long-term.