My Heart Belongs to Data

Harvard Doesn’t Teach This….
May 3, 2017

My Heart Belongs to Data

Data is vital for small businesses to grow and sustain. It’s now second nature to give your information to make a purchase or even to ask a question of a retailer or manufacturer. So why won’t small businesses make it a procedure to ask too? 

Customer Paying In Coffee Shop Using Touchscreen

“…The tools for big data have never been better than they are right now. The amounts of information you can gather about your customers — and the ways you can analyze this information to drive growth and innovation for your company — is remarkable…”  

Excerpt from article Forbes Technology Council

Data collecting is nothing new, everyone knows they should be collecting their customers data for future reference. They understand that information is essential to use for relationship building and affordable, effective advertising.  The problem is most of our clients, locally owned small businesses, are afraid to ask!  In a recent conversation with a client I asked how she was collecting and she said with frustration, I know I know I should be, but I just can’t bring myself to ask, and she is not alone. I do understand that, but my go-to thought that I share is- growth happens when you step out of your comfort zone. I mean really, this isn’t even Big Data, this is just step one.  If local businesses can start with small data, start making it part of their procedure, then they can begin to see patterns and plug into big data allowing more effective exposure and start connecting with consumers who are interested in what they have to offer! Obviously, customers are the perfect target! Using this data they can begin to build duplicate customer profiles for a more effective marketing reach.

 So what is new?  The way consumers are making decisions about their time and money.  That is where using this data can be so powerful, entrepreneurs can now make every marketing dollar count and even quantify the impact of that same dollar. Analytics give small business owners a power that they must tap into, not just to sustain, but to thrive…the sky is the limit!  Relationships are key with how millennials think about buying. They are brand loyal and want to interact digitally with their brands. A personal and above all authentic story is what moves them to commit to your business….and when they commit they stick with you, they are loyal with reviews and word of mouth that can’t be beat. 

 The next time one of your local businesses asks you to fill something out, answer a survey, put your business card into a bowl, etc. please comply and know that it was very hard for them to ask. These businesses genuinely want you back and are willing to work for it…now isn’t that where you want to spend your time and money? Repeat after me: Yes Please!  

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Teresa McAnerney Northeast Kansas Enterprise Facilitation- Growing Communities One Entrepreneur at a Time.

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Teresa McAnerney
I grew up in St. Joseph, Mo and graduated from Missouri Western State University with a Bachelor of Science degree in social psychology. I was raised in a very entrepreneurial household, my father ran his own business and both sets of my grandparents were self employed! Favorite quote: "Dost thou love life? Then do not squander time, it is the stuff life is made of" - Benjamin Franklin I've loved that quote forever, I guess that is why I am committed to living in the now and enjoying life to the fullest with an attitude of gratitude.

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