Day: October 18, 2019

How Can Small Businesses Use Big Data?

  • Data is now easier to collect and cheaper to host, making it accessible to nearly every business.
  • The availability of data helps small businesses compete against big corporations, but they may still struggle to use that data in practical ways.
  • Three ways small businesses can use big data to grow include checking on credit data about your business, monitoring supply chain data, and keeping an eye on artificial intelligence and automation innovations.

The correlation between the availability of actionable big data and the size of the company with access to it is evident. It might not have been as detailed or accessible as it is now, but having access to information on competitors and customers has historically given large corporations an even greater advantage over small businesses than they already had because they could handle the costs and access the technology and resources.

Over the past decade, however, data has become more accessible to small businesses. Thanks to technology, it’s both easier to collect and cheaper to host, giving virtually every business access to an abundance of data that can be put to good use.

When my credit company first entered the U.K. marketplace, for instance, the average cost per domestic business credit report was 50 pounds (roughly $62). Now, that cost is about 50 pence (close to $0.63). Businesses today can even subscribe to data brokers instead of paying separately for each individual report they want.

Business models are changing, and people are finding different ways to promote their data services. Businesses are taking more creative approaches to making data available, using advertising and “freemium” offerings to widen their reach. And with that said, people are also more educated about the availability of data, which snowballs into it being more widely accessible and widely used, too.

Local governments in


Why Your Travel Startup Needs CRM Tools

Customer relationship management involves useful tactics and strategies to not just maintain but strengthen the bond that companies share with their customers. Travel startups are using CRM programs with advanced functions that allow them to stay in contact with their customers all the time. At the same time, the CRM tools help the companies store a bunch of information related to their customers in one place.

With access to a huge database like this, you can learn a lot about your customers in general. This makes providing support quick and convenient. By analyzing customers’ behavior and your past conversations with them, you can make better plans to deal with a particular customer, and analysis of the complete customer database will give you valuable insights about your customers overall. Basically, CRM helps you get closer to your customer.

In this article, we will discuss several things related to CRM in the travel industry:

  1. How can a CRM solution help your travel company offer a better customer experience?

  2. How does a CRM allow you to personalize the experience for travelers?

  3. How can customer analytics benefit your sales and marketing teams?

  4. Should a CRM should contain lead management features?

  5. What is the role of a CRM in managing customer complaints?

  6. How can you ensure that the CRM is used to its full potential?

A travel business, be it an online platform that allows you to book flight tickets and hotel rooms or a travel agency that plans your trips, can only grow if the customers find it useful. At the end of the day, every business is here to make a profit, and in the B2C space, a company’s revenue is completely dependent on how many customers it has. There is no doubt that, as a travel business, you have to focus on


8 Tips for Scaling Your Business

Humans are known to be insatiable – never content with what we have, always trying to get more. It is this very desire that also drives us to bring out the best in ourselves and achieve the seemingly impossible.

However, small businesses often have to bear with naysayers telling them to be content with what they have. Friends and family will warn against investing in new opportunities because of the risks. Although this principle of contentment works for most of us in our personal lives, it can be crippling to emerging businesses and the entrepreneurial mindset.

As leaders and decision-makers, in order for our businesses to survive and grow, we need to be prepared to explore unconventional and innovative options and willing to pivot from the security of structured forecasts and plans. Here are some tips to minimize risks while scaling your operations.

1. Have a plan in place.

Despite the importance of leaving your safety net, planning isn’t the enemy. In fact, even pivoting from plans successfully requires new or alternate plans. That holds true for the strategic scaling of businesses. Having a plan of action in hand will make it easier to maintain your quality performance and implement new operations as you scale up, while minimizing your vulnerability to risks and losses. A good starting point would be to identify all barriers that could hinder your growth so that you can plan how to avoid or overcome them.

2. Know your customers.

Your customers are the determinants of your success. Ensure that your customer service quality is undisturbed while you scale your business. It helps to put yourself in your customers’ shoes and consider how actions in your business scaling plan would affect you if it were a business you patronize. You don’t need to restructure your whole


How to Help an Employee With an Addiction

Addiction can strike anyone at any place, and it’s nothing to joke about. It can completely ruin a person’s life, and even when it doesn’t go that far, it can still have a devastating effect for a long time.

I’ve seen this firsthand myself. Catching one of my employees high on the job, barely even able to function, was not a pleasant experience. But I knew it was up to me to help him pull through this, because I was one of the people most actively involved in his life at that point.

It’s important to recognize when someone is struggling with addiction, especially if you’re in a position where you’re in charge of multiple people.

If you supervise people, it’s very important that you’re careful and attentive. Pay attention to situations that might indicate that someone is in need of help.

Identifying problems

It’s not easy to spot when someone has an addiction problem. The classical caricature of an addict depicted in media like films and TV shows is exaggerated in most cases. If you see someone that obvious, then they’re too far gone for help in most cases. For most people, addiction is subtle and hard to spot unless you’re paying attention.

Sometimes a supervisor or manager might not realize they are dealing with anything problematic. These cases are particularly difficult, because the person might be in denial, and it can be a challenge to get through to them and convince them that they need help.

The importance of a gentle approach

That’s why it’s so important to be gentle and patient. As Infinite Recovery reports, a supervisor has to carefully and methodically approach the situation and communicate their care and concern for the employee and his or her well-being.

People rarely react well when they think


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