Big data can sometimes seem like the cosmos; a nebulous mix of analytics, cloud storage, and private information that can be both mysterious and intimidating. This is especially true for small businesses. A recent survey conducted by Provoke Insights, a brand consultancy and market research firm, found that two-thirds of small companies still don’t know how to navigate big data. Despite this, most companies desperately want to be able to harness the power of analytics. Though intimidating, big data should be analyzed and leveraged appropriately; otherwise a company is not operating to its fullest capacity and money may be left on the table. Small businesses can’t afford to have others eat their lunch.
It is crucial for small businesses to have a well-defined marketing plan in place. Analytics and big data should be a big part of the plan. The power of big data and analytics can be harnessed in a number of ways. Some of these ways include using analytics to inform marketing initiatives, as well as using analytics as a way to gauge what’s working and what needs some improvement. Without analytics, a small business is simply guessing the right move opposed to using data to help them make more intelligent and informed decisions.
If you are a small business and you need help with your marketing plan, Provoke Insights can help. Feel free to contact us for tips on how to create a marketing plan that uses analytics to make informed decisions.