Everyone is looking for the silver bullet in marketing. What is that one thing that will push our sales over the tipping point? What hidden avenue will be the one that gets us to the easy road. The reality is, that the best way to accomplish that is with sweat, a good marketing mix, and strong data strategy. But what happens when you have limited budget or resources to be able to chase down every possible lead in every industry? It’s hard to ignore the fact that look-alike modeling can result in double or even triple the results of standard advertising. Funny enough, only 30 percent of advertisers use look-alike modeling.
Data is the vital piece to running a consistently success business. In fact that’s worth repeating: Data is the vital piece to running a consistently success business! But for so many, it's still a complex puzzle. Understanding what systems to use or how to structure data to maximize your use of it isn't as easy as it sounds.
From customer insights to purchasing decisions to finding the right employees and contractors, using data to make timely and relevant decisions is integral to your operations. But for many companies, all this data is either ignored or put aside until we have more time to make sense of it all. When the real pressures of quarter end earnings or delivering products on time hit, the "nice to have data project" takes backseat. Weeks turn into months and before you know it, one of your key goals for the new year is to implement a data strategy to drive the company's growth. That's why having a solid data strategy is so important for every business.
If you're not familiar with data strategies or don't know how you would go about creating one keep reading for our expert tips and advice.
There is no doubt that social media is a critical tool for a business's success. It increases awareness and knowledge of your brand, which ultimately creates new clients for your business.
Data analytics is a hot topic in the business world. Even so, it rarely comes up in the legal sector. Many law firms still haven't taken data analytics seriously—or even know how to. Data usually only comes up in law firms when there are client privacy concerns or data breaches. Attorneys of all stripes need to leverage data analytics for business purposes, and this begins with the understanding of data quality.
To run a successful law practice, firms need to improve data quality and ensure the data captured is relevant to the business objectives. For law firms to leverage data analytics, the data first needs to exist. Attorneys and the law firm staff responsible for capturing data should validate its value to ensure it will contribute to the success of the practice. Data validation needs to be something law firms do with every piece of information they get, so they don't capture irrelevant data.
Beyond capturing, the firm should make sure they store accurate data. The data should be consistent throughout the different databases in which a copy exists. Besides, upholding data integrity ensures law firms escape malpractice claims.
There is an oft-quoted saying that “those who tell the stories rule the world.” Effective storytelling has the power to adjust viewpoints, change minds, and motivate actions like no other method of communication.
Understanding the journey a prospective buyer goes through in order to purchase your product or service will ensure that you are developing sales and marketing strategies that are engaging and represent your company’s brand effectively.
To a marketing or sales professional, determining where lead generation dollars should be spent to maximize the return on investment can be the hardest part of the job. Not understanding what activities are working best, or even worse, what activities in what order are working best, can impact a company’s ability to drive lead generation effectively.
Craft beer – the tasty, above-average alcohol content, mystical potion beloved by beer enthusiasts around the world. So much so that loyal customers wear their favorite brewery’s logo like a badge of honor and have been known to stir up trouble with rival brew gangs when necessity demands it. According to brewersassociation.org, from 2016 to 2017, the amount of brewpubs, microbreweries and regional craft breweries grew by 16%. In 2017, 27% of all craft breweries saw negative barrel growth, and 17% saw double digit losses. More breweries are losing money than entering the market and managing the vital components of the business are essential to success.