Data-driven organizations are 23 times more likely to acquire customers, 6x as likely to retain customers, and 19x as likely to be profitable as a result
(Source : Mckinsey Global Institute)
It has been said countless times and shall be said until human knowledge, learning & business lasts - Data is Beautiful ! The more you know about everything related to your brand, its consumers and their behaviour, the easier it becomes to make informed decisions and gauge results. However, it produces results only when done properly - the data collected needs to be converted into hard numbers, represented visually and crunched while asking the right questions to get the right answers!
Why is measuring data hard for businesses?
Measuring your Brand’s success is not an easy task in the online space. There are multiple channels involved in marketing and branding processes online & collating data from across these can be tricky. It is absolutely necessary, however, because this data is the cream of all your operations. It should be used to guide your future decision making, any campaigns you run, to measure success/failure of the campaigns run, and discover which factors contributed to the success/failure.
Some Basic problems that Businesses face include :
- Data Collection
- Real Time Data
- Visual Representation of Data
- Growth Numbers
How Does Analytics Solve These Problems?
Every lead you capture, every impression you make, every click you get, every person who likes/reacts/follows you and more defines the nature & behaviour of your audience/market. It is absolutely vital to have proper records of these. This is absolutely critical to your decision making and will keep getting you business from your consumers and get you new consumers when done properly. Social Media Analytics, Search Engine Analytics like Google Analytics, Data Studio Reporting and various CRM tools help you do just that - this is where we come in!
At the risk of touting our own horn, SocialBazaari is one of the best analytics companies in Lucknow. We help businesses know how their customers see them within the online space - be it social media, search engines or your website.
Why should you leverage Analytics for business Growth :
- Proper Data Visualization
- Audience Segmentation
- Behaviour Control
- Better Marketing Campaigns
- Minimize Cost and Maximize Profits
What’s next for Analytics?
No business ever got hurt by minimizing Operational Costs and Maximizing Profits. Here’s what the future holds for the field of Data Analytics -
- Unsurprisingly, over 40% of data-based tasks shall be automated by 2020
- Through 2022, data management manual tasks will be diminished by 45% through the expansion of machine learning and automated service level management
- By 2020, half of all analytical queries will be produced by means of Online Searches, Natural Language processing or voice
- 53 percent of companies are adopting big data analytics in 2019.
(Source - Forbes)
Our Analytics services :
No - It is gathering, compiling & studying numbers related to your business. It has been done since the first Balance Sheet was made - we just use electronic tools & techniques now.
Yes! Branding is the difference between a small business, a medium & a large one. If you’re looking for growth - go for Branding!
No, not at all. Yet again, it’s a core business process which should be seen as an investment rather than an expense. And it pays GREAT dividends!