Wednesday, October 2, 2013

How Small Firms Should Deal With Data

As a tech startup based in Seattle, Interstack has been pondering the multitude of ways to deal with data. We have various sources from which we collect data- comment cards, social media, consumer reviews about clients, web traffic reports, etc. but what do we do when we finally have that data? What is the next step and how do we act on it?

Using a web-trafficking software, we are able to capture and analyze data such as how many visits there were to a particular page, how many actions were taken, what time of day, operating system, and whether the website was found through social networks, referrer websites or direct entries. Putting the data into graphs or charts each week allows us to view these trends over the long run and monitor when certain marketing techniques create a spike in activity. These are the stats you should look out for. After putting together a case study for a client, we looked at the data and found that radio wasn’t such a hit for this audience versus a twitter shoutout from the Seattle Seahawks.

Loyal Channel, our social sentiment dashboard, allows our clients to view their customers’ feedback via our customized comment cards, Share Your Experience (SYE) and social media networks. Clients can also create their own surveys on the comment cards, create a rewards program, and write newsletters to their loyal customers.

When deciding how to deal with the data at hand, don’t go by industry or national trends. They may not have the same variables to analyze as you do.

Go by the data that you receive, track it, analyze it and test it. Create tests to figure out if TV is better than social media. Test which time of day is best to send out a tweet. Create your own tests to figure out how to achieve the best results. Graphing these results weekly will allow you to see any patterns and how best to deal with your data.

How Small Firms Should Deal With Data 

It has never been easier for entrepreneurs to collect information about their businesses.
But how do entrepreneurs know what to collect—and how to act on it? For small-business owners strapped for time and resources, sorting through reams of information from social media, website analytics and customer surveys can lead to confusion or paralysis. We asked experts and entrepreneurs for their best advice about dealing with that torrent... Continue reading

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