There’s only so much you can learn from your own numbers.
Sure, your business is unique and it’s important that you look at your internal data regularly. Your own data provides an immediate assessment of your marketing methods, allowing you to adjust to improve sales when necessary. You get this data in many forms, direct customer feedback, reviews, and digital marketing analytics. You’ve tried different formulas for marketing and hopefully have a consistent plan to keep your sales steady based on past performance.
But, just as important to your marketing performance is external data. External data gives you a way to measure how your methods stack up against the industry standard. What works and what doesn’t work for others in your industry can be key in unlocking greater sales potential. The problem is that there is so much external data available from so many sources that it can be difficult to decide what is relevant to you and what isn’t. Just like you have Key Performance Indicators to measure your internal data, you must filter your external data sources and only pay attention to those metrics that are relevant to your decision-making process. Gaining insight into the results of businesses that have run similar campaigns can be incredibly valuable to you by saving you a lot of unnecessary marketing experimentation.
At boomtime, we gather the relevant internal data for you, then alter your campaign automatically. In addition, we measure your performance against hundreds of other businesses in our network. It’s this multi-level approach to data that allows boomtime to unlock the greater potential for all of our clients.