As of 2021, “winging it” and guesstimations in terms of market and competitive intelligence is guaranteed to lead to failure. With the increasing importance of e-commerce in the wake of the COVID-19 pandemic, it has become absolutely essential for any viable business to understand the digital data flow in and around its industry.
While capturing the essence of the digital gold can seem like a daunting task at first, the good news are that there are a myriad of free and easy tools to use to get a clear picture of what your (potential) clients want, what they are looking for and what they are willing to buy.
It would be reasonable to say that the poster child for data-driven tools is Google Analytics. People are often interested in finding out “how many people visit” their site, but the now-mature Analytics suite can do so much more, like finding out how people found you, what they were looking for, what they are looking at, how long they stay on a given page and where they are coming from, just to scratch the surface. These data points can go a long way in refining your offer and business strategy.
It is also possible for you to ask your visitors for their information, needs and wants if you are looking to actively build a base to which to market to. A number of great solutions exist to collect, organize and segment data sets to micro-(re)target interested parties.
Your own data sets can then be matched against publicly available information. As an example, a business offering an agricultural product could ask a government for a list of grant or program funding requests that were turned down in order to market to a certain niche of farmers in a specific region, by offering what was not given by public institutions.
At KWM Consulting, we can help you set up shop to passively and actively gather data which will give you a better understanding of your customers, and ultimately, of yourself as well. Get in touch with us today and let’s see how we can work together to make your business or initiative truly data-driven.