Small Business Advice |Top data mistakes from SME’s

The success of a marketing strategy relies heavily on a business’s ability to turn data into real and usable knowledge. An article by Small Biz Point notes the common pitfalls experienced by small businesses and the best way to avoid them.

Assuming data provides infinite business opportunities: It’s unwise to assume that data provides you with an endless list of prospects for your business. Businesses need to understand the overall universe of prospects and who is likely to use their products in order to avoid wasted resources and time.

Not treating data as strategic: Too many businesses fail to focus on the reasons behind a prospects ‘no’. Instead of static strategies, learning why prospects choose to use you or not and modifying accordingly may actually help turn that ‘no’ into a ‘yes’.

Assuming data is correct and complete: Never assume that data is complete and accurate. Businesses need to invest time and money into ensuring that data is current and fully representative of the sectors they seek to cover.

Price doesn’t matter: Paying the lowest rates for data is a bad choice. Given the benefits that arise from accurate and extensive databases, it is always worth paying the price for a decent service. Remember data isn’t a commodity.

Failing to ask the right questions: Failing to ask the right questions from data is a mistake. It is important to understand the complexities of data, even down to where it is sourced from. If you’re unable to ask the correct questions yourself, then hire someone to do it for you. Better to spend more money in the short-term than to misunderstand a valuable resource and lose your campaign altogether.

To read the advice in full, please click on this link.


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