Eight key benefits of having a great database
- A database can reduce lots of complexity (flailing and endless spinning of wheels) in a business -- the status of everything is no longer unknown or known only to a few.
- With a good database, all of your business's key info is in one and only one place, meaning that no one has to wonder if what they're looking at is the latest, most up-to-date info, or if the info they are seeking might be found if they look hard and long enough.
With a good database, everyone knows where to find the information they need at the moment they need it.
- A database can add lots of productivity gains:
-- reducing the flailing mentioned above
-- reducing mundane, automate-able work (and empowering your team to do higher-value added work)
- A database lets you scale your business -- multiple people and even multiple locations.
MS Excel and file folders don’t scale
- You and your managers have access to the info you need to make the critical decisions, taking your business's marketing and operations to the next level:
-- promotions tracking (lets you test and adapt, test and adapt, test and adapt)
-- clarity on key questions such as "how much can we afford to spend on acquisition?", and "how much are we spending on acquisition?", and “how long is it taking us to ship orders?”
-- managers have insight into production process and areas where things are getting bogged down
-- critical questions such as "What is our lead conversion process?", "What is our customer re-order rate?", etc.
-- critical questions such as "what is our current backlog of work to be done, and what's in the pipeline?"
--“ what's the status of our current open orders, and what needs to happen next with each?”
- A database can provide an easy way to automatically contact customers and/or employees – either some kind of triggered email or phone “alert”, status message, or an emailed promotional piece
- A database gives the business owner peace of mind even when away on vacation. A database lets you quickly see what's going in your business. When things are out in the open, it’s much harder for anyone to hide things that aren’t going well.
- Not only does a database provide immediate ROI, it also adds to the long-term financial value of your business – it’s an awesome investment. If all knowledge about your business and your customers is in your head, your presence is required for your business to have any value at all. If the knowledge in your business is captured outside of your head, your business becomes something that can be run or sold without your presence.