What are some places that startups should look at for real insights? Some of these starting points will differ depending on the area you’re interested but for most startups here are some areas that should be looked for mining purposes, for example mining emails can tell you how much communicatin on average it takes to turn a lead into a customer. For all of these tools will be available.
Some starting points:
– sales data
– web logs
So now that we’ve identified sources what next? The key process here is to ask relevant questions afterall you will only get answers to the questions you ask.
- How come? How can we? Why is this happening?
We have some analysis can we can we make a conclusion on this?
Can this be automated so we get a report regarding the issue in our inbox?
2) Go to the data source
- Customer databases
- Sales DB
Find a method to query the data:
- Keyword search
- Put into Excel
3) What does analyse data tell you about your business? (baseline)
- 5% conversion rate
- 100 visitors a day visit the landing and 10 make it to the sales page
4) How do we improve on the baseline?
- Drive traffic
- Improve page load
- Offer incentives
5) Monitor regularly