Business Survival Needs: Metrics and Insights

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Business Survival Needs: Metrics and Insights

Measuring your company’s click-through rate on your website or using web analytics can certainly help track consumer involvement. Analytics can help answer quantitative questions, but how or why does that help your company bring in more sales? Most decision makers develop a plan of action when creating an analytical architecture to answer the question, ‘What’, within their company’s action plan. By answering, ‘what’, you gain concrete knowledge of the data and can strategically understand the metrics between your consumers and your brand.

Analyzing the data and understanding the ‘What’ in your company’s business plan is a critical step but it is not the only step that should be taken. When creating a plan of action, qualitative data is just as important and will help the company understand the customer’s ‘Why’. Answering the ‘Why’ will help develop insights for the company and can be used for future planning. Insights allow a company to develop a strategic experience for their customers. Using qualitative insights can help tell a story, linking your brand to a customer’s personal experiences. Insights can be found through forms of visualization, mirroring the consumer’s buying habits to the brand of the business.

When using a quantitative and qualitative approach, a business is able to capture both logic and emotional experiences for its customers. As both systems are operated seamlessly throughout a company structure, customers will easily build trust and a personal connection to the company’s brand. Trust is built by the sheer data provided as the personal connection is made by the way the business uses insights to pull in customers, illustrating a better understanding of the marketplace and the improvements of its industry.

 

To better understand how quantitative and qualitative data are best used for your business, reach out to us at ask@keanstrategies.com.

As Always,

Find Your Best Self in Your Career.

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