They say work smarter not harder, but people rarely give you the secrets to make that happen. Even when they do it is more hard work and learning which you are often left to figure out yourself. There is so much noise in marketing and staying ahead of the day-to-day it is often difficult to free up the time even when the next big thing is right in front of you. This is one of those things that won’t only make a huge difference, it takes very little time to benefit from.
Hands down, this is the most astonishing change for businesses we’ve seen since the launch of Google Analytics. The Commonwealth Bank have released a free tool called “Better Business Insights Report” for anyone using their merchant facilities, that is from card purchases online or in a traditional store, that can tell you more about your business and customers than you will believe at first glance…
For those of you who know us, especially those who work with us, know we are big on stats. From leads to conversion goals and providing real world insights to our clients, we are one of the leaders the space. &Mine clearly see CBA’s new merchant data as game changing. Imagine that you could know, at anytime, where your customers live, how old they are and if they’ve come back, one, two or many times? or if they have not been returning. CBA’s Better Business Insights Report (BBIR) does this and more.
We’ve been looking at Web Traffic and Social Data and providing insights to our clients for years. How to improve market share, where to advertise, what is really working (what isn’t). This new CBA customer data allows us to give so much better advice, it is the equivalent of spending tens of thousands on market research. Only it’s free and available anytime you want to log in.
I know what you may be thinking, more data is one thing, it all sounds positive but you’re busy and this seems like even more work and learning. Are the Better Business Insights worthwhile adding verses the other advice i’m yet to action for my business this year. If you are asking questions like these, this is where &Mine and CBA can help take full advantage of BBIR and translate insights into actions and positively effect the outcomes of your business.
The key with all ‘Big Data’ reports is not being overwhelmed or controlled by them. Rather picking out and developing the right intelligent indicators which paint a clearer picture of your business. With further insights we can tell you where you business has been and how it is tracking currently in the marketplace. Most importantly where the obvious low hanging fruit is to generate fast, responsive results as well as map out future growth in areas you haven’t properly explored as they haven’t been obvious priorities. Over the coming months and years, we will see Big Data impact more and more businesses. Those that get across it early will have easy wins across their business and begin to understand the importance of having reliable and effective insights improve their long term business goals. We are certainly pushing every client we have towards having well rounded, agile Big Data become cornerstones of their enterprises. Especially as most data sources are becoming more reliable, relevant and industry specific. We are even seeing digital data, like Facebook & Google’s analytics converging towards more traditional information like BBIRs.
The tip of the iceberg is in the images below starting with some of the Merchant Data from the Better Business Insights Report, followed by some of complimentary online data compiled by &Mine’s. Please note, reports below are cross client snapshots or demonstration data.
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If you have or need merchant facilities contact the CBA merchant or business teams to find out more about their ground-breaking “Better Business Insights Report”.
Call us for a meet up with the team at &Mine for a coffee and we’ll show you how to turn data into insights and work smarter on your business.