Small and medium sized businesses (SMEs) quite often compete for the same clientele in the market place with big businesses. The difference between these two business groups comes down to financial resources which are at their disposal and dedicated towards business expansion. Technological innovation however has brought to the fore big data tools which are designed to assist small businesses to gain additional business and market insights. Here are some of them.
Canopy labs uses customer behaviour, sales trends and predictive behavioural models to extract valuable information for future marketing campaigns, and to help you discover the most opportune product recommendations. This tool reveals each customer’s standing, such as lifetime value, loyalty and engagement level, purchase history, and email behaviours. With this information, you can better create personalized offers, track customer responses and launch improved outreach campaigns.
Kissmetrics assists small businesses to engage customers based on their behaviour. This tool helps you to create, manage and automate the delivery of single shot emails and ongoing email campaigns based on customer behaviour. The platform measures campaign impact beyond opens and clicks.
Google Analytics is suitable for small businesses as it covers metrics which really matter such as audience demographics, traffic acquisition channels, and bounce rate for individual landing pages. By understanding this data, you can focus on optimizing your content and user experience for maximum conversions.
Tranzlogic works with merchants and payment systems to extract and analyze proprietary data from credit card purchases. This information can then be used to measure sales performance, evaluate customers and customer segments, improve promotions and loyalty programmes, launch more effective marketing campaigns, write better business plans, and perform other tasks that lead to smart business decisions.
Buffer is an intuitive social media management platform trusted by businesses, agencies, and individuals to help drive social media results. Buffer is equipped with built in analytics for all your social media content. Its visual interface will help you turn metrics into actions in just a few clicks.
The big data tools listed above should help you to run your small business with more efficiency and increased prospects of profitability.