Data analytics can seem like a confusing concept at first – but this is an area that every entrepreneur should be getting familiar with. By learning more about data analytics, you can advance your business and make well-reasoned decisions for your company. Working with an agency like eSEOspace can help you incorporate data analytics into your business strategy. Here are a few ways that you can use data analytics to drive new business and boost your revenue.
Data analytics are absolutely indispensable when it comes to risk management for small businesses. It’s all too easy to assume that risk management is only a concern for large enterprises, but even if you are your company’s only employee, you need to take steps to mitigate risks within your operations. With the help of an IT support professional who specializes in cybersecurity, you can leverage data collection, aggregation, and analysis capabilities to conduct essential security functions. Through these functions, you’ll be able to identify, examine, and minimize cybersecurity threats.
No matter how strong your cybersecurity protections are, you need to improve your cyber security and have a recovery plan set up so that your company can quickly bounce back if an attacker does manage to get through. What should your recovery plan address? You’ll need to include directives for which applications you’ll have to recover first, time objectives for getting programs back online, and the individuals who will carry out the recovery efforts.
Customer Acquisition and Retention
Acquiring and retaining customers is always at the core of your business strategy. If you’re not consistently bringing in new customers while building loyalty amongst your current customer base, you won’t be able to increase your long-term revenue. The good news? You can use data analytics to establish a solid customer acquisition and retention strategy.
By using customer relationship management software, you can analyze all of your sales and marketing leads within one program. You can figure out which initiatives turned customers from interested parties into buyers, and which actions helped motivate past customers to make repeat purchases. You don’t want to play guessing games when it comes to your customer acquisition and retention strategy, and data analytics allows you to work with concrete statistics as you determine your path forward.
Search Engine Optimization
Today, practically every entrepreneur has heard about search engine optimization – but do you know how to make it work for your business? You might still be guessing at the keywords your customers are looking for. If you want to enhance your SEO strategy, applying data analytics is key. Search Engine Watch recommends using data sources directly from search engines, utilizing a program that allows you to create visuals for your SEO results and applying A/B testing to analyze the success of your efforts.
Did you know that data analytics can also be very useful when it comes to optimizing the design of your company website? Hubspot recommends using a website reporting tool that can track data from your site, such as visitor conversions. And if you’re investing in a major site design update, A/B testing can also be very helpful – you can run tests to analyze a particular design choice, and then run a second round of tests to identify whether or not a change has led to improved results.
On the surface, data analytics can seem complicated. But by diving into the world of data, you’ll be able to glean useful insights that you can use to set up successful business initiatives. Soon, you’ll feel confident as you build your business strategy around data analytics!
Ready to step up your data-driven marketing efforts? eSEOspace can lead the way! Schedule a consultation call through our website today!