By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    AI analytics
    AI-Based Analytics Are Changing the Future of Credit Cards
    6 Min Read
    data overload showing data analytics
    How Does Next-Gen SIEM Prevent Data Overload For Security Analysts?
    8 Min Read
    hire a marketing agency with a background in data analytics
    5 Reasons to Hire a Marketing Agency that Knows Data Analytics
    7 Min Read
    predictive analytics for amazon pricing
    Using Predictive Analytics to Get the Best Deals on Amazon
    8 Min Read
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Niche Data Tactics to Take Your Business to the Next Level
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Quality > Niche Data Tactics to Take Your Business to the Next Level
Big Data

Niche Data Tactics to Take Your Business to the Next Level

Discover innovative niche data tactics to help your business reach the next level. Learn how to use data-driven insights to maximize growth, make smarter decisions, and create a competitive edge.

Ryan Ayers
Last updated: 2022/12/29 at 2:55 PM
Ryan Ayers
6 Min Read
niche data tactics for business success
Licensed Photo from DepositPhotos - 77122965 | Author Rawpixel
SHARE

Big data can be an intimidating concept. Whether you’ve been using it for a while in your business or you’re just starting to explore the possibilities, there’s a lot to consider.

Contents
Finding out WHEN Your Customers BuyTaking a Closer Look at Your ExpensesFiguring Out Your Most Profitable ProductImproving Your Customer ServicePersonalizing Your MarketingFigure Out Your Priorities

Large corporations can hire dedicated data experts or even a full big data team, but small businesses have to be more selectively strategic in how they approach collecting and leveraging data.

There are so many ways that data could benefit your business and boost your growth. The best techniques to use will depend on your industry, audience, and other factors.

Here are some niche data tactics and uses to consider when planning your strategy.

More Read

demographics big data in marketing

The Role of Data in Understanding Demographics for Effective Marketing

7 Ways Data Monetization is Changing the Information Technology Job Market
6 Reasons to Boost Data Security Plan in the Age of Big Data
How Big Data Is Transforming the Maritime Industry
Utilizing Data to Discover Shortcomings Within Your Business Model

Finding out WHEN Your Customers Buy

Ad spending can easily get out of control, especially if you’re not seeing much in terms of return on investment. One way you can use data to get more from your ads is to analyze when your customers do most of their buying.

Different groups of people have different habits, and if you’re serving a niche market, you might see some similarities within the data.

For example, if you’re marketing to mothers with young children, you might notice that they do their buying in the middle of the day when the kids are napping.

Leveraging data about the time orders are placed can allow you to adjust your marketing strategies for greater profitability.

Taking a Closer Look at Your Expenses

Every business has expenses, and it’s easy for those expenses to pile up. While some expenses can’t be reduced or cut, you likely have some that are unnecessary.

Data can tell you how much you’re spending and on what. Once you know, you can take a closer look and find out where you might be able to make cuts without sacrificing too much.

Figuring Out Your Most Profitable Product

Regardless of the products or services you offer, there are some that will be more or less profitable than others. But do you really know which of your products are your top performers?

There are lots of factors that go into profit, including factors like materials, labor, price, and margin.

Collecting data on these different factors can help you zero in on the products that are making you the most money overall. That information can be used to boost your marketing efforts, focus, and other strategic decisions.

It also might help you decide when and if to drop products or services that are taking more time and investment than they should.

Improving Your Customer Service

Data is important for getting to know your customers. This is critical for success in business — you need to know your audience if you want to cater to their needs.

Using big data, you can discover all sorts of important information about your best customers, such as how they prefer to communicate, what they’re buying, and how often they try to contact you.

That kind of information can help you improve your customer service efforts, without simply hiring more people. You can use data in different ways to optimize how and when you’re communicating with customers and how you handle complaints. This will help your business grow and help you build valuable loyalty.

Personalizing Your Marketing

Personalization in marketing continues to grow, and it’s not a niche reserved just for big companies. Small businesses can break their email lists down into different segments and send different deals and emails to each segment, catering to individual tastes.

Or, you can send different content to customers depending on their preferences. There are lots of tools available that can help automate these processes and make them more accessible for small businesses!

Figure Out Your Priorities

To effectively use data, you need to start with strong data mining practices. You have to continuously collect data from your business and organize it so it can be used to improve your business decisions.

However, that’s just the beginning. Once your data is prepped and ready for analysis, you need to set your priorities.

Begin by yourself how your data could best serve your business. Where are you seeing the biggest problems or opportunities for growth? Working on one niche area of your business at a time will help ensure that you don’t get overwhelmed.

Effectively using data isn’t always easy, but it’s well worth the effort!

TAGGED: big data, data tactics, niche data tactics
Ryan Ayers December 29, 2022
Share This Article
Facebook Twitter Pinterest LinkedIn
Share
By Ryan Ayers
Follow:
Ryan Ayers has consulted a number of Fortune 500 companies within multiple industries including information technology and big data. After earning his MBA in 2010, Ayers also began working with start-up companies and aspiring entrepreneurs, with a keen focus on data collection and analysis.

Follow us on Facebook

Latest News

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Best Practices Big Data Data Collection Data Management Privacy
data protection for SMEs
8 Crucial Tips to Help SMEs Guard Against Data Breaches
Data Management
How AI is Boosting the Customer Support Game
How AI is Boosting the Customer Support Game
Artificial Intelligence
AI analytics
AI-Based Analytics Are Changing the Future of Credit Cards
Analytics Artificial Intelligence Exclusive

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

demographics big data in marketing
Big Data

The Role of Data in Understanding Demographics for Effective Marketing

7 Min Read
data monetization
Big Data

7 Ways Data Monetization is Changing the Information Technology Job Market

6 Min Read
data security in big data age
Big Data

6 Reasons to Boost Data Security Plan in the Age of Big Data

7 Min Read
How Big Data Is Transforming the Maritime Industry
Big Data

How Big Data Is Transforming the Maritime Industry

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI and chatbots
Chatbots and SEO: How Can Chatbots Improve Your SEO Ranking?
Artificial Intelligence Chatbots Exclusive
AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?