How To Use Data & Analytics To Aggressively & Exponentially Grow Your Business

By: Kelly Bolton   Date: October 6, 2017

Growing your business is a must if you really want your business to succeed. If you don’t, you’ll remain stagnant and at potential risk of failure. There are many ways you grow your business, such as new ways of getting customers and diversification of products. Another way is the use of data and analytics to aggressively and exponentially grow your business. You’ve already heard of how important they are to keep your business on track, and you probably have already been gathering data and analytics in order to do that. As you sift through all that information, try some of these things so your business can grow, as well.

Opportunities

While going through all the data and analytics, look for opportunities that will let your business move up a level and make some changes based on the data. For example, try something like identifying times of the year when online sales jump, so you can take advantage of it, or go through sales and inventory data (if a brick-and-mortar store) to see when product demand is highest so you can prepare ahead of time.

Teamwork

If you see information that would be useful to your team be successful so your company can grow, give it to them. Allow them CRM access, use inventory management apps, or Dropbox to share files. Giving them access to useful information will allow them to do their jobs efficiently and allow for business growth.

Visualization

Use data the create compelling visuals to help drive awareness of your company and products and boost your conversion rate. Just looking a raw information can be boring and hard to understand, but if you make it into an eye-pleasing graphic that’s easier to understand, you can get more results from it.

Google Analytics

If you’re keeping track of data and analytics for your company, you probably are using Google Analytics. If you’re not, you should be. It will provide you important and useful information in different areas, including audience, behaviour, conversions, and acquisition. You can study this information and look for ways to use it to help grow your business.

Task management

Use data and analytics to see how well your task management efforts are going, see what’s working and what might need to be improved so projects can be done more efficiently. There are different tools that can help with this.

Time management

Data and analytics for your time management can help you see just how you are spending your time and where you can improve so you are performing quicker and more efficiently. There are different tools that can help with this.

Sales

Use data and analytics to see different sales figures (there are different tools available to help with this) to figure out top sales representatives and opportunities, lead to customer conversion rates, and new customer acquisition. This information can help you see how things are going and what areas need improvement.

Finance

Use financial data and analytics from areas like business expenses, invoices, overall company revenue and your budgets. See where you can make adjustments to help your company grow.

These are just a few ideas. You can find more information here, here, here, here, heere and here.

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