How Unique Data Can Help Grow Your Business
Data is everywhere. You only need to open tools such as google trends to identify your audience’s latest obsessions and create timely content that can target their interests. Unfortunately, the availability of data can rapidly encourage marketers to draw general rules. Every woman between 25 and 40 will respond positively to campaigns that use children imagery. On the other hand, men react in higher numbers to sports themes, including motor car races and ball sports. It is easy to let data feed marketing and business clichés. But in reality, the business world relies on data to build unique solutions that target unique problems. Data don’t exist to generalize your audience and products. On the contrary, if you make data analyzing part of your strategy, the purpose is to understand what makes you and your audience unique. Unsplash – CC0 License
Every industry sector relies on different information
Every sector relies on operation, production, and economic data inherent to their activities. Ultimately, each market has specific players and needs. For instance, a marketing agency will need a software solution that allows the recording of individual creative data and ROI. On the other hand, a petrol company will prefer solutions that connect infrastructure needs with oil market fluctuations and volume. When it comes to oil company software – data and management should be shaped by an understanding of the industry and which information is relevant. As operations in the business are different, the data you collect must match the sector-specific operative intelligence. As such, the first data differentiation point is set by the industry.
Your strategy focuses on YOUR strengths
Data-based strategies use your business strength to achieve your goals. For instance, companies that repeatedly meet their sales goals use a simple plan. Firstly they use data to identify potential weaknesses. In more companies, the holiday season is a weakness because activities slow down during the period. Using this knowledge means that you can develop a yearly strategy that focuses on 11 months rather than 12. The process sets the bar high but unites the team behind common goals while avoiding the Christmas period slow down. Your sales data shows patterns of activities that are unique to the business. Working within these rather than against them will drive better results.
Every customer has unique needs and goals
High-level data analysis can reveal common trends among your customers. However, as a company, you have to pay close attention to the data discrepancies. Do all customers share the same demographic, geographic, behavioral information? There may be common trends, but there are differences. Making differences your priority allows you to build realistic customer segmentation. Segmentation, in theory, creates separate audience groups to provide targeting patterns for your communication, marketing offers, product research, etc. The bottom line: Not every customer wants and needs the same thing from your business. Data analysis serves a dual purpose. It highlights uniqueness, whether it refers to audience groups, market sectors, regulations, needs, behaviors, or patterns. But as it identifies the differences inherent to each company, it also offers a meaningful response to build a strategy that puts your uniqueness at the heart of all activities. If you keep your view and understanding of your business world too generic, growth becomes impossible.
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