Maybe you have heard about the fact that big companies sell data. Your personal data is shared, at all times, with retailers and service providers who want to benefit from your expenses. Businesses can track through their social media posts, web search history. Even medical data or physical locations are available online now. In this article we will discuss how to sell data and earn money.
How does this work? Some use tracking cookies that keep track of each site you visit on your smartphone or laptop. Every time you check Facebook, the company uses algorithms to track what you like and click to serve targeted ads. Google seems to have figured out how to find out what you bought offline after viewing an ad online.
It makes sense to build, aggregate, and enrich existing data, and then sell it to customers as valuable new ideas. Online reports, dashboards and indexes can be stand-alone products . Included in the company’s current offering helping to increase the price of the package sold to customers. Find what they want or interact with the brand.
2. Empower sales force with data
The role of a sales organization in a company is to maximize sales. Data can be a very effective tool to achieve that goal. Smart companies empower their sales force with rich customer data sets that help them easily identify customer problems, lead turnover, and sales opportunities. With the data the sales force can deliver better product presentations improve customer service. And use more personalized sales arguments when meeting with customers.
3. Use data in marketing and advertisin
Data that tells us something about consumers. And their interests can be used to create marketing and advertising solutions. You have two options: the company uses your data to optimize its own marketing and advertising. Or sells your data to other companies so they can do it.
4. Sell data to players across the industry value chain
Companies often view their business as a “silo”. They use it only for their own purposes. The reality is that they operate in network and value chain environments. Where final delivery to customers is the result of the concerted efforts of various cooperative companies. In recent years many companies have realized that these networked business environments. Create opportunities to share and capitalize data from one company to another.
5. Sell data to players outside your own industry
Looking outside of the industry or the company’s value chain is a less obvious opportunity to monitor data. Some players may be interested in obtaining information on economic activity. Consumer behavior or other relevant topics. These players can be found in areas of wonder. Companies should actively seek out these actors and explore innovative equality opportunities.
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