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Why You Should Analyze Your Small Business Data

Every entrepreneur knows that from the time you wake up to the time you go to bed, there are a thousand decisions to be made.

When you are your own boss, you might think you are too busy running your business to worry about data analysis.

Though it might feel like an extra step, analyzing your sales data ensures that the decisions you make are the right ones for your company.

At Bloomforth, we believe in the power of analysis when it comes to making your business successful.

Let’s look at the facts.

  1. Data helps you invest your advertising dollars. Knowing your customers’ favorite products helps you isolate keywords and phrases for paid marketing tactics.
  2. Repeat customers means you’re doing something right, and customer satisfaction is easier with data. Tracking sales helps you know what products your customers like the most, and how often they return.
  3. Sales are not always steady. Calculating monthly sales volumes helps you understand your company’s ebbs and flows so you can anticipate and prepare for success.
  4. Your employees are valuable assets who you want on your side. Data helps you understand their strengths. Knowing who your top sellers are helps you set realistic goals for both your company and the people who keep it going.
  5. We all want profit margins to be bigger. Tracking costs and revenue helps you work smarter, not harder, when manufacturing your goods, stocking your inventory, and setting your prices.

Still worried that data analysis is too complicated?

In the past, analyzing data was an expensive job for high-tech marketing and finance experts. But it doesn’t have to be!

The Bloomforth platform for artisans and retailers does the heavy lifting for you. Our convenient Omnichannel lets your customers buy products from either their desktop, laptop, tablet, or mobile device while saving all this information for your later use.

With Bloomforth, every transaction is recorded and tracked with done-for-you charts and graphs that offer a snapshot of your company’s trends.

Think of it like your business’s very own market research department, but better looking (and easier to deal with!).

Whether you are a retailer or a wholesaler, take advantage of Bloomforth’s platform for your business.

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