Tap Into Your Business Intelligence Resources with Marketing Automation
Anyone who has spent any amount of time in business will have learned one golden rule: nothing worth having comes for free.
It’s no secret that we need to spend money to make money. That we need to speculate to accumulate. This is such common knowledge that there’s a wealth of cliché phrases designed to reflect this; in fact, I’ve just used two of them in this very paragraph!
Whether we’re purchasing a powerful piece of software aimed at boosting our business’ reach and revenue, or we’re undergoing one-to-one business consultation and mentoring in an effort to prepare ourselves for the next stage of growth, we’re familiar with the idea of paying for development. But does this mean that we should just hand a blank check to any software publisher or business expert who can give us an advantage? No we shouldn’t, but the answer is more nuanced than this.
For example, costs will still be costs even if they provide us with an advantage in the long run, and so they must be managed accordingly. What business owners need is the ability to handle the difficulties and surmount the obstacles that growth brings, and to develop a sustainable path to follow into the future.
Sustainability and future growth
It’s this concept of sustainability which is so vital to a growing business. We seek business intelligence – we crave a deeper understanding of what makes our business tick and of what a strong performance means in the market place – so how do we go about achieving this?
First of all, we need to recognize the resources that we already have in place. With so much data to draw upon, this can sometimes cause an embarrassment of riches. Just like too many cooks spoil the broth, too much data, without a robust data management strategy in place with which to handle it, can be overwhelming.
Secondly, we need to know how to store and access that data. This is easy to achieve at the outset, when our client base is small and the relative value of each client interaction is low, but it becomes more difficult to accomplish as our organizations grow. When significant growth occurs, the only way to handle this data is by using a comprehensive system which can store and report on volumes of facts and figures that would be unwieldy to the individual.
Finally, we need to know what to do with the insight once we have it. Trying to apply raw data to your organization without the necessary tools is like tackling automotive repairs with your bare hands. In other words; it’s tough! You need to have the proper tools and procedures in place, allowing you to bring your business intelligence to bear within your organization.
This is how we safeguard growth, stability, and sustainability in the future.
Data as a business asset
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