If you look at the top companies and brands in the world today, like Google, Netflix and Amazon, you will find one thing in common — data.
If you truly want to see business growth, it has become increasingly important to use different types of business data. Your business data gives you a lot of information about almost every aspect of your business, which then enables you to make informed and smart business decisions.
For example, if your marketing campaign does not perform well, you can use data to analyse exactly what went wrong and you’ll understand what you need to change to get better results.
Despite what you might have been led to believe in the past - that tracking data just wasn’t relevant for your business - we maintain that no matter what your business is, you can always benefit by using data to make decisions.
Using data has now become crucial for all businesses. With the help of experienced business data consultants, you will be able to get more value out of your data.
What Business Data Consultants Do
All businesses today are faced with risks, challenges and high competition. It’s not easy to tackle these challenges by yourself. However, this is exactly where business data consultants come in.
Business data consultants help you devise solutions to business challenges with the help of data analytics. They help you deal with the massive volumes of business data and give you real insights, and are better equipped to identify the exact potential your data holds for your business.
Business data analysis can help you gauge the environment your business operates in as well as all relevant market trends. With the help of data analytics tools, business data consultants can help you solve complex problems.
For example, business data consultants can help you identify your business KPIs and improve them. They can also help you recognize the best opportunities and increase your company’s profitability. With a data driven approach, you are more likely to see business growth.
Despite the many benefits of data, it is a fact that entrepreneurs and business owners do not utilise it to its full potential. However, no matter what business you are in, data can help you achieve all your goals.
Let’s take a look at businesses that can easily see growth and success with a data consultant.
3 Businesses That Can Flourish With
Business Data Consultants
1. Membership Businesses
When it comes to membership businesses, using data becomes crucial. This is especially true for leisure memberships because you need data to identify what attracts people to your business. With this information, it then becomes easier to identify target audiences and strategise marketing campaigns accordingly.
However, as we battle the cost of living crisis, it is possible that demand for leisure memberships and luxury items will fall as people focus more on the essentials. In this case, business data becomes even more crucial, allowing you to evaluate which customers are most valuable to your business so you can provide better services to them.
Business data consultants can help you figure out the exact logistics of how you can use data for improving your services or marketing your products. Making use of business data, especially during times of crisis can be incredibly beneficial for your business.
2. Wholesale Businesses
While it may sound unusual, data can also be widely used for wholesale businesses and retailers. Are you confused about how you can do that? Well, the answer is quite simple.
If you are a wholesale retailer who sells products online, you can use business data to develop a more strategic way to approach your prospective customers. For example, you can use data to identify what new customers are looking for and present them with opportunities, for example, limited edition discounts. Business data consultants analyse this information to devise better deals designed to increase your profits.
In this case, you can also use data to improve the way in which your customers are presented with relevant products. This can help you streamline your customers’ buying journey, making it easier to turn them into returning customers.
3. Subscription Businesses
Subscription businesses have become ever more popular over the past decade. From food and drink to health and wellness, you can now subscribe to almost any product or service. These range from broad markets such as Netflix and Hello Fresh to very niche markets such as luxury pet food.
However, this is the market where data can make the greatest impact. You can use data to determine what your customers want and what is most attractive to them. You can then use this data to drive your sales, discounts, promotions and giveaways based on customer and sales data.
However, where customers are influenced by offers and promotions, this can affect customer loyalty. Business data consultants can solve this problem by analysing the basic demands that your product or service meets.From here, we can develop strategies to attract customers that trust your business above others, thereby increasing their lifetime value.
Contact Mojo For Business Data
Consultation
Using your business data is really important if you truly want to make an impact. This is why you need data experts who can help you understand your market, your products and everything else to make decisions.
At Mojo, you will find a team of professionals who can help you with just that. We believe in delivering results with the help of data so that you can truly make an impact.
With our experience and expertise, you can rest assured that you are in capable hands.
Start your journey with us today! Contact us to book a meeting.
You can also try our free data impact scorecard to understand more about how your business can use data better.