Data Analysis Is Easier Than You Think

Most people assume that data analysis requires a room full of supercomputers and mathematicians who continuously look at data to give big business the upper hand. While a deeper pocket could mean more in-depth analysis, it doesn’t necessarily mean that its better. You’d be surprised by how small things could make a tremendous impact on your business.

We have learned a lot

Over the last five years the team over at Centipede Digital™ has worked with businesses of all shapes and sizes; each, with the same goal…growth. At our agency, we utilize a process that we developed to get an in-depth understanding of where the business started, how efficiently they operate, and where they are going.  The process begins by analyzing the current customer base.

Using Data Analysis In An Integrated Marketing Strategy

Once examined, we use that data to develop a fully-integrated marketing campaign that resonates with the target audience; ultimately stabilizing the baseline and identifying areas for growth. Sounds simple right? Wrong, you would be surprised how many businesses put data on the back burner. We’ve heard all of the excuses from “People don’t want to give us their information” to “We didn’t want to bother them.”

Hang on; this is where it gets good.

Without Data, Your Business Has No Life Insurance Policy

The challenge of not gathering data is that your business no longer has a life insurance policy. You heard that correctly. You can close the door now. If history has taught us anything, it is that markets rise and fall, industries thrive one day and are obliterated the next.  Most businesses believe they are indestructible and just because they are flourishing today, tomorrow is guaranteed. It’s not, ask the team over at Kodak.

Right about now, you are probably trying to figure out just what data I am referring to.  You are wondering just how complex this data needs to be to make a significant impact. The short answer is, not complex at all.

This Data Can Make A Huge Impact On Your Bottom Line

Just gathering a first name, last name, street address, and email can make a world of difference. For instance, you can use a self-analytics platform like the one offered through Experian. With Experian, you can upload a list of clients; the return result will be an appended file that contains demographic and psychographic information about your current customers. You can then use that information to create some useful baseline personas about how your clients live, work, play, and consume media. This information becomes much more helpful when deciding where to spend your advertising dollars.

Want to identify where your local competitors are impacting your ability to grow? Use the same data to develop a plot map that will enable you to identify down to the street level where you have gaps in acquired customers. Then identify the competitors nearby and conduct a quick SWOT analysis. Identify gaps left by the competition and design a campaign that targets new customers in the underserved areas.

Take Your Data Analysis To The Next Level With Marketing Technology

Finally, use email addresses with a marketing automation platform to build customized content that resonates with your established personas. Platforms like Centipede Digital’s self-managed automation make it a breeze to get the job done.

Of course, there are a lot more complicated things you can do with data, but when you get to that point, it is probably time to call us.

About the Author: Thomas J. Morganelli, PCM is the Chief Executive Officer of Centipede Digital, an integrated marketing solution provider and a graduate of Post University. Tom earned his BA in business management and marketing.

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