How Well Do You Understand Your Business?
Tran Chau – A small or medium business (“SMB”) today faces many competitive challenges. In the retail industry for example, not only are consumers shopping more online, but big box retailers are also becoming more commonplace. Consumers are drawn to these alternative shopping outlets for time-savings and lower prices. To compete amidst challenges such as these, SMBs must focus on retaining current customers, providing exceptional customer service, and continuously improving operations. But how do you get the data to make decisions and put these processes in place?
Enter Womply, a San Francisco based data analytics and loyalty solutions provider. Its data analytics solution called Insights, allows an SMB to track revenue, social media activity, and online rating information over time from an easy-to-use website. In addition, business owners can easily benchmark the performance of their businesses against that of competitors.
Womply’s loyalty solution is not your traditional loyalty program. A business owner who uses a traditional loyalty programs has difficulty measuring its effectiveness or knowing who customers are. To address these blind spots, Womply created Loyalty Cloud, which is an electronic loyalty program that highlights an SMB’s best customers based on a range of clever criteria. Not only can a business owner profile a customer’s transactional activity at the business, but the business owner can now also see what other businesses in the area customers are visiting – an industry first.
Armed with these tools, a business owner can capture data and use it to develop marketing strategies and actionable steps to adapt and improve operations. In short, for SMBs to remain competitive running an offline business in the long run, it is very important to make use of online tools and technologies.
Tran Chau is the Director of Operations at Womply. He can be reached at firstname.lastname@example.org.