HomeBUSINESSUnderstanding And Using Data: How To Increase Your Sales

Understanding And Using Data: How To Increase Your Sales

“Big Data is on everyone’s lips. Sometimes the ominous something made up of numbers and information is understood as a threat, sometimes as a great opportunity for the future. But one thing is clear: ignoring is not an option. So how do you make the most of the inevitable abundance of data? ” Data-driven ” is the magic word that turns data into (reliable!) friends. We use simple examples from everyday business to show how this can be implemented in practice.

Data Belongs »At One Table«

Every company collects vast amounts of data every day – sometimes targeted, sometimes simply as a “by-product” in digital business. If you want to be successful in the long term, you cannot avoid deriving the correct conclusions for your own company from a large amount of information you have collected: What needs do my customers have? Which content and products are viral? A solid data situation in your company forms the basis for a personalised customer approach and a higher conversion rate – and ultimately ensures that your sales increase.

Many new and good things can emerge from a modern data culture. But to do this, companies first have to learn how to handle their data. This means bringing the correct and relevant information from different systems – for example, the marketing automation tools, from Google Ads or the CRM – together »to one table. « Today, modern interface solutions help with this, with which you combine data from different sources. However, it takes more than current tools. Only when all employees have a positive attitude towards data can your company work data-driven.

Data Needs The Right Mindset

There is no point in hoarding data and hoping that the rest will somehow take care of itself. The right mindset in the company is crucial across departments and at all levels. Because while a new software solution can be implemented quickly in case of doubt, it usually takes longer to establish a data culture in the company. But where to start?

Only joint data-driven work is a successful data-driven business. Specially trained Chief Technical Officers (CTO) or Chief Information Officers (CIO) can take on the role of moderator for the data culture in companies. By making data-based visions understandable, they can also pick up employees who previously had little contact with them. But there is an easier way: Monthly meetings with the whole company, for example, are an excellent place to share figures and insights across departments. Not everyone has to understand every technical term or new process down to the last detail – it’s more about transparency to create synergies and the emergence of new ideas. So if relevant data and figures are shared with everyone and contextualised understandably, you promote the exchange of knowledge and prepare the basis for joint data-driven work.

Data Wants To Be Understood

Such cross-departmental sharing of data, such as KPIs related to a particular campaign, also helps demystify the daily mass of data and remove any chilling or intimidating effect it may still have on some employees.

What’s more, you create a cross-team understanding of the importance of the data. Bring an up-to-date figure to the meeting regularly, for example, the average length of time users have stayed in your online shop. Puts this information in context, derives insight, and shares it with others.

The cross-team exchange of data can thus serve as feedback and measure success. At the same time, you promote motivation and ambition in favour of better cooperation between different company departments. Because the following applies: data must be shared so that we can learn from them together!

ALSO READ: Has Facebook Lost Control Of Its Data?

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