Using Data To Scale Rapidly

Good morning. Data is something most business owners don’t use. When making decisions for clients, I always lean on the data, rarely my intuition. Here are 3 ways to implement data into your decision-making process.👇️ 

Advertising Is For Profit

Usually, you need to face the cold, hard facts. Advertising is designed to generate ROI. Full stop. When you’re able to put $1 in, and then get $3 back, that’s good advertising. How long does that return take? It depends on your business economics and sales cycle.

Either way, you need to make decisions about advertising based on profit (or at least revenue). If an ad is not working, turn it off. Even if you like the ad — or you believe in what it could be — just focus on the data. It never lies.

80/20 Rule In Focus

About 80% of your revenue comes from 20% of your customer base. If you think I’m joking, do the analysis right now. You’ll be surprised that even small businesses have this skew.

By using this data to focus primarily on the 20% of customers that bring 80% of your revenue, you’ll save a whole lot of time. If a customer is giving you a headache and they fall in the 80% that doesn’t bring much revenue, it’s probably not worth your time to constantly worry.

User Metrics & Case Studies

This is especially useful for lower-ticket businesses like SaaS, e-commerce, and more. However, it works everywhere. You can test certain user metrics to pull together robust case studies using data. 💹 

Survey your users to understand which features of your product or service provide the greatest customer satisfaction. From there, you can also poll before and after the results of using the product or service. Put those data into your advertising and sales for an increase in conversions automatically.

This just scratches the surface. Data is extremely powerful. Just because we don’t own McKinsey doesn’t mean we can’t use data to our advantage in business.

Thanks for reading,

Austin Weatherhead | Founder @ Zunesty

Whenever you’re ready, here are 2 ways I can help you.

1. See my protocol for rapid business growth.
At our growth agency Zunesty, we have worked with 41 clients and documented all results about what works best. I’ve condensed this down into a general process that works for rapidly scaling companies. Watch it here.

2. Work with my growth agency Zunesty.
If you are a company doing $1-5M and you’re ready to scale, we partner with a handful of new businesses each month to help them grow. Read through our case studies and book an application call to start. Click here.

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