Focus on Analytics To Be Successful

The advent of social media has led many women to seek financial freedom through new ventures. This has become increasingly important in a historical context where women have lost more jobs than ever before. For example, according to ECLAC, the COVID-19 pandemic caused a decade-long setback in the labor participation levels of women in Latin America, just to cite one example.

Then, many of them, who lost their jobs, invested their savings to generate a personal venture that could make up for the lack of work. Those who kept their jobs and see it simply as an additional income could also decide to open a virtual business from social networks.

Even women who choose to concentrate on their studies and not work also often have their own digital ventures to earn some money. However, many of these ideas never prosper or do not remain profitable over time. This could change if women learned digital analytics. Let's take a look at why.

The Importance of Analytics To Strengthen Women’s Projects

Have you ever noticed the enormous amount of digital ventures that emerge through social networks? We can see it on Facebook or Instagram, for example. There, many people offer bakery products, fast food, homemade food, clothing, and hairdressing services, just to name a few.

What you probably didn't know is that many of these projects are managed by women. Whether it is for personal taste, economic necessity or to supplement their salaries, more and more women are deciding to venture into the promotion of their services. Perhaps after taking a course or after investing money in buying wholesale products, this option appears as a good source of income.

Since social networks allow all women to open an account for free, there is nothing to lose. They just need to choose a good niche that they can exploit, either because they perceive a market need or because they know how to make specialized products or services, and they can immediately get followers and new customers.

However, many of these ideas, although they start with a lot of enthusiasm, do not prosper over time. There are a huge number of ventures that lasted only a few months, but then the women themselves have admitted that they were not "profitable enough" and were too time-consuming for the hours they had to work.

Also read: HOW TO REDUCE THE JOY GAP AT WORK?

The first thing to say is that this option appeared as an easy way to empower women, but not always with long-term results. For example, as highlighted by Empoweress, only about 163 million women became digital entrepreneurs and opened a virtual business.

Some of the women entrepreneurs even managed to leave their lifelong jobs (many of which were low-paying or not enjoyable) and dedicate themselves 100% to their businesses, which they opened either completely independently or in collaboration with friends or family.

Well, one of the decisive factors would be knowledge of the market, marketing strategies, and analytics in general. Many women are extremely dedicated in their projects, but only from an aesthetic point of view. They spend a lot of time taking beautiful pictures, creating incredible texts, and generating a harmonious feed.

They don't reach mass audiences or manage to make sales, because they do not have basic analytical knowledge. For example, they do not carry out paid advertising (and, when they do, they don't correctly define the buyer persona) or do not know how to read the graphs of social media campaigns, which are fundamental data to understand the profitability of an idea.

That's why, if you have a business, you should take basic classes on social media analytics. Basically, they will allow you to know your audience and know what they are looking for from you, they show you indicators to better organize your content and the metrics will give you an overview of the decisions your competitors are making.

While aesthetic is important and many women do great work in this regard, so is getting to grips with numbers and making decisions like a real businesswoman. This way, your great idea won't be neglected and your personal venture could give you that female financial independence you've been waiting for.