Prefer to listen to this post? Play the audio here!
These days there’s just no escaping it: big data is the name of the game. Whether it’s Google collecting data on millions of users or an SMB collecting data on a few hundred customers, big data is a crucial part of many modern business processes.
Many small and medium-sized business owners overlook big data, assuming that it’s only necessary for companies with thousand and thousands of customers. But big data is more than just a new buzzword, or another way for the mega-rich to keep getting richer. Big data can be incredibly useful for all types of businesses, including the small and medium-sized ones. Chances are that if you’re using certain modern business practices, you may already be using big data!
What’s the Deal With Big Data?
Big Data is all of the information collected by businesses from both online and offline sources, sources like websites, social networks, apps, software, documents, email lists, and many more input platforms. Yet all of this data is sort of worthless on its own, it only becomes valuable once a business is aware of how to utilize it.
One of the easiest ways for SMBs to utilize this enormous amount of data is in a CRM plan. CRM, or Customer Relationship Management, is crucial to modern businesses when it comes to both marketing and sales.
What is CRM?
If you’ve been paying attention to the Mission Suite blog you know all about CRM, but just in case you’re new here’s a brief refresher: CRM is a tool used by many businesses to analyze and utilize customer information in order to attract leads and convert leads to sales.
CRM systems are only as effective as the data they have. The more relevant data put into the system, the better the system will be able to predict customer preferences and assist in tailoring the business’ message to its customers. That’s where Big Data comes in.
Making the Connection
CRM runs on Big Data. Without a way to extract the valuable bits of information from Big Data it really has no value in the business world, CRM extracts that value and puts it into action. CRM takes the huge mess of data you collect and translates it into an understandable template that your employees can understand and utilize in their jobs.
The thing is that many SMBs simply don’t have the resources to wrangle Big Data. Their limited resources would be taxed to the breaking point when trying to handle the sheer enormity of the data associated with Big Data. The solution here is “Little Data,” breaking down Big Data into chunks that are manageable for smaller businesses.
CRM can help do just this, by only gathering data that is relevant to your specific initiatives. Whether you’re focused on social media or email marketing, by properly employing your CRM you can only gather the data you need so that you don’t become overwhelmed.
If you have any questions about how CRM can help your business cut through the noise of Big Data and shed some light on your business process, just drop us a line in the comments.
If you’re ready to actually start reaping the benefits of CRM head over to The Mission Suite home page and get started with your free trial of the Mission Suite today!