How Data & Reporting Can Save You Time and Money
When it comes to businesses both large and small, finding ways to cut costs and save time is crucial. It’s how you set your company apart from others without wasting two of the most valuable assets you have. But when it comes to marketing and drawing in new customers, it seems as though your time and money disappear into thin air. Businesses spend hours on end drafting ideas for new campaigns and dropping countless dollars on ineffective strategies that bring in less than what was spent in the first place. It’s a failing system, and one that’s incredibly outdated.
That’s where reporting will change your business - and your life.
Companies often overlook the importance of gathering data on their leads and current customer base. Running reports on this data offers you a chance to decrease costs and save you time because you are learning more about your prospects and what it takes to convert them into long-lasting customers. Focus your efforts on marketing strategies that actually work, because why money and put in excess effort on campaigns that do little to benefit your business?
So how does data reporting work? Let’s break it down.
Every good business has a target audience or market that they push their product or service towards. Within each of these unique markets, there are distinct trends that can be discovered. These trends could be anything from the type of marketing campaign, to the time of day, to a particular set of circumstances that brought that prospect to your business. By analyzing your prospects and accounts through Shape reporting, you can get a breakdown of what your average customer or lead is thinking, and how they typically interact with your business.
Now that you’ve got the reports, how do you utilize them effectively?
Let’s say you have a report that shows over 60% of website visitors check in between the hours of 4:00 pm and 6:00 pm. If you know when the majority of your clients are active, you can generate a marketing campaign tailored towards that specific timeframe. Why not try a flash sale or a limited time coupon code that’s only available to use during certain hours? These statistics and reports can help to generate better marketing strategies and campaigns that are geared directly toward your client base. No more wasted ads that sit aimlessly on your website just waiting for a click. Now you can tailor those ads and your marketing to the real people that you're more likely to convert.
No target audience is alike, and that’s why data reporting is crucial. Customers should never be treated as a generalized group that will always act in a specific manner because customers change. What attracts an audience one month may not reflect in the following month, and having the data reports to reflect those subtly changes will help you adjust your strategies. As a business, you don’t necessarily need to know why they act the way they do, but knowing how they act can make a significant impact on how you choose to market yourself and your business.