Sound confusing? Don’t worry. In the next couple of blogs, we’ll talk about what numbers and Big Data mean, and get you on the road to a more profitable 2016.
If we haven’t met, I am an entrepreneur and business growth authority who built several successful businesses. Now I consult and run business groups to help other small business owners learn how to work smarter—not harder.
The beginning of a new year is a great time to take stock of what works—and what does not work—for your business. It is not a good time to throw money at whatever marketing method catches your eye. As I talked about before, shiny object syndrome can cost a lot of money, without offering much in return—especially when you are determined to make a change in your business.
What am I talking about? Let me tell you about the most common ways people lose money trying to find new clients or customers:
You don’t get the customers because you threw your marketing budget at the crowd. There are at least two ways to make money. One is putting the right plan in place to ensure your service or product is continually reaching new potential leads. The other is making smarter use of the money already present, or already being spent to run your business.
We’ll talk about getting new leads first.
How does data get the customers you need?
A lot of entrepreneurs recoil at the word “data.” What is it? It is knowledge. Knowledge of who might buy your product or service, and what they will pay for it. It is knowledge of the economics and geography of where you are trying to do business—whether it is local, or on the web. It is knowledge that gives you the edge as you cultivate a lead into a converted, long-term client. You need data.
Data-driven organizations make more money, because they have the knowledge of where to place their confidence—and their marketing budget—to generate business. There are a couple of different kinds of data, including:
You also need a way to manage and cultivate your data. You can use any of a number of customer relationship management (CRM) systems. I have a lot of success with Infusionsoft.
When you want to put the right plan in place, or develop better marketing and business process—call me at (585) 633-7563, or check out one of my groups. Starting this year, my goal is to make you a millionaire.
Yours in profit,