Many a time I’ve been frustrated with the lack of detailed data available to me. Some organizations are on the data bandwagon but have yet to hook up the horses to the cart.
Regardless, you have to work with what you’ve got. Even the most basic data can reveal interesting tidbits about your business or, at the very least, it can support / contradict what you ‘know’. These three sets of data are relatively easy to develop if you don’t already collect this information.
- Analyze sales by month – Compare past and present to look forward
- Is your business seasonal?
- Affected by weather events?
- On target for the month / quarter / year?
- Compare your growth data with that of your overall industry.
- Analyze sales by customer (or persona) – Look for opportunities to upsell
- Have their buying patterns or items purchased changed?
- Are there additional products or services related to what they currently buy that might be of use for them?
- Keep sales team up to date on any red flags or new opportunities with existing clients.
- Analyze customer service calls – Improve your customers’ experience
- Is there a common issue that comes up over and over?
- Can you be proactive in avoiding some issues?
- Are there gaps in your marketing and/or technical collateral?
- Empower Customer Service to bring these items to your attention.
These may not be the most sophisticated bits of data, but they can certainly help you when other data is scarce.
© 2021 Tracey Copeland, Rolling Sands Consulting.