Dreams are made of data! To follow your dreams, study your data!
In the “No BS Direct Marketing” book, (Page 14, Rule Number 4) Dan Kennedy says:
“You need real, hard facts and data to make good, intelligent marketing decisions. Making such decisions based on what you or your employees think is happening, feel, guess, have a sense of, etc. is stupid.
Tracking means accurately collecting all the information you need to determine what advertising is working and what isn’t. Which offer is pulling and which isn’t, what marketing has traction and what doesn’t. Tracking leads to knowing what your return on investment is for each dollar”.
Harvard Business Review recently started talking about Big Data and role of a data scientist in the life of a business. It wasn’t until after 2014 HBR.Org even mentioned the job title ‘Chief Marketing Technology Officer’. For the academics world, this is a cutting edge business science.
The truth is, we (you and I) have been practicing big data in our small business ever since our business was born. We try to figure out who is going to buy, how to stay in touch with people who did not say yes yet, when will a deal ‘close’ and who is a ‘bad lead’. Business owners, sales managers and sales executives always studied the data in the pipeline and kept track of ‘who we are going to call on’. This is how we used to do it. A sales coordinator kept track of all the data and we looked at it in weekly sales meetings.
In today’s complex online and off-line business landscape there is just too much data floating around for one person to keep track of it all. Today’s complex data environment calls for a sophisticated system that puts a business in compliance with Kennedy’s Rule #4.
eLaunchers.com’s Ultimate Web Traffic Platform and the science behind it is a systematic approach to identifying what matters most in your business and building a data visualization dashboard that can serve as a decision support system for the CEO.
We use a software called Databox (www.databox.com) to build business intelligence dashboards.
If you spend money on marketing (i.e. generating traffic) you need to know what is working and what is not working in real time. This platform enables you to be able to run the numbers for last week, last month, last quarter or last year.
At eLaunchers.com we always talk about the need to track and measure effectiveness of all your marketing efforts in traffic and conversion. A central dashboard, built on an appropriate technology gives you a visual access to all your data in one place. When you build a digital nerves system and connect it your data neurology, you can use the business intelligence for data driven decision making.