How much analytics data does your organization collect?
According to the data (pun intended) from marketing sherpa, 65% of companies have an average to significant amount of data to work with. And 14% have vast majorities of detailed data on customer transactions. Sure vast and significant amounts are not very quantitative measurements but the bottom line is marketers are sitting on a pool of data.
It’s one thing to have and collect the data but what I’m more interested in is what are you doing with your data. From my experience sadly most businesses are not utilizing the data they have to increase online sales.
Part of the problem is knowing how to read and interpret the data. If we follow the 90/10 rule from Avinash you should be investing 90% of your budget on people (Expert knowledge to interpret the data to actionable results) and 10% on the tools to collect the data. I completely heartily agree, investing in data is no long an option and those investment dollars need to be in the place where your business will get the most actionable ROI, in your people.
There Are Three Funnels Every Health Supplement Business Needs To Build A Multi-Million Dollar Empire…
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