When it comes to collecting data, it can seem like a minefield when you’re a small business owner, especially if you’re new to the idea of using and analyzing consumer information to improve how your company works. You may even think, ‘well, shouldn’t these things be left to the big businesses, and how can we do anything with the data we collect and store?’ However, there are many important benefits to handling your consumer data properly, and ensuring that you utilize it in all of the ways that you can. We’ve put together a brief guide, for the non-data-savvy.
Get your data from various sources
If you’re going to be successful as a small business using consumer data, you need to ensure that you’re not just limiting your data collection to one specific source. The most common way of finding useful information will undoubtedly be looking at trends across your social media and advertising platforms, and analyzing the purchasing habits of your consumers, but there are many other ways of finding what you’re looking for, and it could make your data more varied. Look at the complaints you’ve received, and any feedback that you can categorize in order to draw further conclusions, and think about the avenues that you could go down when it comes to adding to what you already have.
Make sure that your data is the real deal
Whilst the internet is obviously the main source of data collection for most businesses – big and small – there are some things that can really change how your data looks, and subsequently the results that you’ll come out with. There are huge problems on every scale when it comes to data breaches and risks of fraud, but luckily, there are things that you can do about this. You can use a Captcha service that distinguishes between human activity and that of bots (even by analyzing the way that the mouse works) and you can also use identity verification programmes. If you want to make sure that your data is legitimate and legal, and you’re avoiding bots, you can simplify your KYC compliance with Netverify. This way, you can ensure that you’re following GDPR, no matter what the size of your business is, or where you operate.
Use the data that you have properly
OK, so you may have collected all of the data that you can, but now what? You need to form some kind of picture of your consumers, and use the information that you have to better your business. You can do this in various ways, but you need to make sure that you have some kind of software to put your data together, as it is impossible to try and categorize it otherwise. You can use the conclusions from this to make sure that your consumer experience is as good as it can possibly be, your advertising and social media is actually working, and that you have some kind of marker to see whether you’re doing the right thing as a company. When it comes to data, the most important thing is that you use it properly, so look into the right ways to do this.
So, there we have it. A guide (in layman’s terms) on how to collect and use data in your small business. Make sure to follow these tips, and improve your cash flow, and your company, through the clever use of data!
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