source : lotame.com
What Are the Methods of Data Collection?
May 13, 2019
Data is one of the most valuable resources today’s businesses have. The more information you have about your customers, the better you can understand their interests, wants and needs. This enhanced understanding helps you meet and exceed your customers’ expectations and allows you to create messaging and products that appeal to them.
How do you collect this data? One of the most crucial tools for collecting — as well as organizing, analyzing and activating data — is the data management platform, or DMP. Your DMP can help facilitate all these steps and provide you with the tools you need to make the most of your data. There are various data-gathering methods you can use with the help of your DMP. Let’s take a look at some of the most common data collection methods.
Primary Data Collection Definition
The term “primary data” refers to data you collect yourself, rather than data you gather after another party initially recorded it. Primary data is information obtained directly from the source. You will be the first party to use this exact set of data.
When it comes to data businesses collect about their customers, primary data is also typically first-party data. First-party data is the information you gather directly from your audience. It could include data you gathered from online properties, data in your customer relationship management system or non-online data you collect from your customers through surveys and various other sources.
First-party data differs from second-party and third-party data. Second-party data is the first-party data of another company. You can purchase second-party data directly from the organization that collected it or buy it in a private marketplace. Third-party data is information a company has pulled together from numerous sources. You can buy and sell this kind of data on a data exchange, and it typically contains a large number of data points.
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Because first-party data comes directly from your audience, you can have high confidence in its accuracy, as well as its relevance to your business.
Second-party data has many of the same positive attributes as first-party data. It comes directly from the source, so you can be confident in its accuracy, but it also gives you insights you couldn’t get with your first-party data. Third-party data offers much more scale than any other type of data, which is its primary benefit.
Different types of data can be useful in different scenarios. It can also be helpful to use different types of data together. First-party data will typically be the foundation of your dataset. If your first-party data is limited, though, you may want to supplement it with second-party or third-party data. Adding these other types of data can increase the scale of your audience or help you reach new audiences.
In this article, we’ll focus on primary data. Because it’s the kind of data you gather yourself, you need a strategy for how to collect it.
Quantitative vs. Qualitative Data
You can divide primary data into two categories: quantitative and qualitative.
Quantitative data comes in the form of numbers, quantities and values. It describes things in concrete and easily measurable terms. Examples include the number of customers who bought a given product, the rating a customer gave a product out of five stars and the amount of time a visitor spent on your website.
Because quantitative data is numeric and measurable, it lends itself well to analytics. When you analyze quantitative data, you may uncover insights that can help you better understand your audience. Because this kind of data deals with numbers, it is very objective and has a reputation for reliability.
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Qualitative data is descriptive, rather than numeric. It is less concrete and less easily measurable than quantitative data. This data may contain descriptive phrases and opinions. Examples include an online review a customer writes about a product, an answer to an open-ended survey question about what type of videos a customer likes to watch online and the conversation a customer had with a customer service representative.
Qualitative data helps explains the “why” behind the information quantitative data reveals. For this reason, it is useful for supplementing quantitative data, which will form the foundation of your data strategy. Because quantitative data is so foundational, this article will focus on collection methods for quantitative primary data.
How to Collect Data in 5 Steps
There are many different techniques for collecting different types of quantitative data, but there’s a fundamental process you’ll typically follow, no matter which method of data collection you’re using. This process consists of the following five steps.
1. Determine What Information You Want to Collect
The first thing you need to do is choose what details you want to collect. You’ll need to decide what topics the information will cover, who you want to collect it from and how much data you need. Your goals — what you hope to accomplish using your data — will determine your answers to these questions. As an example, you may decide to collect data about which type of articles are most popular on your website among visitors who are between the ages of 18 and 34. You might also choose to gather information about the average age of all of the customers who bought a product from your company within the last month.
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2. Set a Timeframe for Data Collection
Next, you can start formulating your plan for how you’ll collect your data. In the early stages of your planning process, you should establish a timeframe for your data collection. You may want to gather some types of data continuously. When it comes to transactional data and website visitor data, for example, you may want to set up a method for tracking that data over the long term. If you’re tracking data for a specific campaign, however, you’ll track it over a defined period. In these instances, you’ll have a schedule for when you’ll start and end your data collection.
3. Determine Your Data Collection Method
At this step, you will choose the data collection method that will make up the core of your data-gathering strategy. To select the right collection method, you’ll need to consider the type of information you want to collect, the timeframe over which you’ll obtain it and the other aspects you determined. We’ll go over various methods you can use in the next section of this article.
4. Collect the Data
Once you have finalized your plan, you can implement your data collection strategy and start collecting data. You can store and organize your data in your DMP. Be sure to stick to your plan and check on its progress regularly. It may be useful to create a schedule for when you will check in with how your data collection is proceeding, especially if you are collecting data continuously. You may want to make updates to your plan as conditions change and you get new information.
5. Analyze the Data and Implement Your Findings
Once you’ve collected all of your data, it’s time to analyze it and organize your findings. The analysis phase is crucial because it turns raw data into valuable insights that you can use to enhance your marketing strategies, products and business decisions. You can use the analytics tools built into our DMP to help with this step. Once you’ve uncovered the patterns and insights in your data, you can implement the findings to improve your business.
7 Ways to Collect Data
So, how do you go about collecting the data you need to meet your goals? There are various methods of collecting primary, quantitative data. Some involve directly asking customers for information, some involve monitoring your interactions with customers and others involve observing customers’ behaviors. The right one to use depends on your goals and the type of data you’re collecting. Here are some of the most common types of data collection used today.
Surveys are one way in which you can directly ask customers for information. You can use them to collect either quantitative or qualitative data or both. A survey consists of a list of queries respondents can answer in just one or two words and often gives participants a list of responses to choose from. You can conduct surveys online, over email, over the phone or in person. One of the easiest methods is to create an online survey you host on your website or with a third party. You can then share a link to that survey on social media, over email and in pop-ups on your site.
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2. Online Tracking
Your business’ website, and your app if you have one, are excellent tools for collecting customer data. When someone visits your website, they create as many as 40 data points. Accessing this data allows you to see how many people visited your site, how long they were on it, what they clicked on and more. Your website hosting provider may collect this kind of information, and you can also use analytics software. You can also place pixels on your site, which enables it to place and read cookies to help track user behavior. Lotame can help you with this online data collection process.
3. Transactional Data Tracking
Whether you sell goods in-store, online or both, your transactional data can give you valuable insights about your customers and your business. You may store transactional records in a customer relationship management system. That data may come from your web store, a third party you contract with for e-commerce or your in-store point-of-sale system. This information can give you insights about how many products you sell, what types of products are most popular, how often people typically purchase from you and more.
4. Online Marketing Analytics
You can also collect valuable data through your marketing campaigns, whether you run them on search, webpages, email or elsewhere. You can even import information from offline marketing campaigns that you run. The software you use to place your ads will likely give you data about who clicked on your ads, what times they clicked, what device they used and more. Lotame Insights can also help you gather data about your campaigns. If you track the performance of offline ads by, for example, asking customers how they heard about your brand, you can import that data into your DMP.
5. Social Media Monitoring
Social media is another excellent source of customer data. You can look through your follower list to see who follows you and what characteristics they have in common to enhance your understanding of who your target audience should be. You can also monitor mentions of your brand on social media by regularly searching your brand’s name, setting up alerts or using third-party social media monitoring software. Many social media sites will also provide you with analytics about how your posts perform. Third-party tools may be able to offer you even more in-depth insights.
6. Collecting Subscription and Registration Data
Offering customers something in return for providing information about themselves can help you gather valuable customer data. You can do this by requiring some basic information from customers or site visitors who want to sign up for your email list, rewards program or another similar program. One benefit of this method is that the leads you get are likely to convert because they have actively demonstrated an interest in your brand. When creating the forms used to collect this information, it’s essential to find the right balance in the amount of data you ask for. Asking for too much can discourage people from participating, while not asking for enough means your data won’t be as useful as it could be.
7. In-Store Traffic Monitoring
If you have a brick-and-mortar store, you can also gather insights from monitoring the foot traffic there. The most straightforward way to do this is with a traffic counter on the door to help you keep track of how many people come into your store throughout the day. This data will reveal what your busiest days and hours are. It may also help give you an idea about what is drawing customers to your store at certain times. You can also install security systems with motion sensors that will help you track customers’ movement patterns throughout your shop. The sensor can provide you with data about which of your store’s departments are most popular.
4 Uses of Data Collection
Collecting data is valuable because you can use it to make informed decisions. The more relevant, high-quality data you have, the more likely you are to make good choices when it comes to marketing, sales, customer service, product development and many other areas of your business. Some specific uses of customer data include the following.
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1. Improving Your Understanding of Your Audience
It can be difficult or impossible to get to know every one of your customers personally, especially if you run a large business or an online business. The better you understand your customers, though, the easier it will be for you to meet their expectations. Data collection enables you to improve your understanding of who your audience is and disseminate that information throughout your organization. Through the primary data collection methods described above, you can learn about who your customers are, what they’re interested in and what they want from you as a company.
2. Identifying Areas for Improvement or Expansion
Collecting and analyzing data helps you see where your company is doing well and where there is room for improvement. It can also reveal opportunities for expanding your business.
Looking at transactional data, for example, can show you which of your products are the most popular and which ones do not sell as well. This information might lead you to focus more on your bestsellers, and develop other similar products. You could also look at customer complaints about a product to see which aspects are causing problems.
Data is also useful for identifying opportunities for expansion. For example, say you run an e-commerce business and are considering opening a brick-and-mortar store. If you look at your customer data, you can see where your customers are and launch your first store in an area with a high concentration of existing customers. You could then expand to other similar areas.
3. Predicting Future Patterns
Analyzing the data you collect can help you predict future trends, enabling you to prepare for them. As you look at the data for your new website, for instance, you may discover videos are consistently increasing in popularity, as opposed to articles. This observation would lead you to put more resources into your videos. You might also be able to predict more temporary patterns and react to them accordingly. If you run a clothing store, you might discover pastel colors are popular during spring and summer, while people gravitate toward darker shades in the fall and winter. Once you realize this, you can introduce the right colors to your stores at the right times to boost your sales.
You can even make predictions on the level of the individual customer. Say you sell business software. Your data might show companies with a particular job title often have questions for tech support when it comes time to update their software. Knowing this in advance allows you to offer support proactively, making for an excellent customer experience.
4. Better Personalizing Your Content and Messaging
When you know more about your customers or site visitors, you can tailor the messaging you send them to their interests and preferences. This personalization applies to marketers designing ads, publishers choosing which ads to run and content creators deciding what format to use for their content.
Using data collection in marketing can help you craft ads that target a given audience. For example, say you’re a marketer looking to advertise a new brand of cereal. If your customer data shows most people who eat the cereal are in their 50s and 60s, you can use actors in those age ranges in your ads. If you’re a publisher, you likely have information about what topics your site visitors prefer to read about. You can group your audience based on the characteristics they share and then show visitors with those characteristics content about topics popular with that group.
The Lotame Difference
Collecting high-quality data is foundational for your business’ success. Lotame can help you gather the information you need, as well as organize, analyze and activate it. Lotame’s real-time data management technologies, global data marketplaces, and award-winning customer service make our unstacked data solutions the clear choice for publishers, marketers, and agencies looking for a flexible, scalable and cost-effective alternative to the walled-off products from the large MarTech stack companies.
With our unstacked data solutions, we can be more flexible and responsive to our clients, enabling improved customer service and support. We focus on making data collection simple and streamlined for our clients so they can get as much benefit from their data as possible.
To learn more about how we can help your company collect, organize and activate your data, contact us today.
Find new customers, increase customer engagement, and grow revenue with first-, second-, and third-party data. Learn how Lotame Panorama can help you in today’s cookie-challenge web.
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Get access to and back up a former user's data – Microsoft – Question 21 1 out of 1 points The ____ is used to collect information directly from the end users and business managers. Answer Selected Answer: facilitated data-gathering session Correct Answer: facilitated data-gathering session Question 22 1 out of 1 points What is a common approach used in the discipline of systems analysis and design to understand the ways systems operate and to chartFocus group is the second collect requirements technique and it is used to get a specific set of stakeholders' requirements. For instance, you can organize a meeting with executive directors in your company to get their requirements first, and then organize a separate meeting with the functional managers to get their requirements.This category is not provided by users directly, but is instead gleaned by collecting and analyzing data from user interactions or from existing explicit data. This might include behavior-based analytics like session duration, pages visited, or device profile but may also include inferences made from provided data, such as user persona segment
Cloud Accounting: Integration – Moderator – Thank you.
So, Amy, in terms
of integration, so what other systems, parts of your operations have you integrated and
stitched together? How did it go? The whole idea of a good information system is not just
doing things in finance, but pushing information and really affecting the top line of the business,
as well as the bottom line. Amy – One of the big drivers behind choosing
a new accounting platform, in addition to the transaction volume, was to get a solution
that was integrated into our operating system. We’re an e-commerce site, so all of the
orders and all of the information on consumers, restaurants, etc., were held within our operating
system. Previous to Intacct, we had Quickbooks sitting over here siloed and we were doing
daily entries to try to match up numbers. When you go through an audit for the first
couple times, particularly when you go with a big 10 firm through an audit, their going
to want to know down to the last dollar what fell last month, what falls next month, don’t
tell me that you don’t know the answer to the two questions. Well, we’ve got 5 credit
card programs, we’ve got 2 sets of systems, they’re all settling at different rates
and different timing. We knew we had to integrate the operating system and the financial system
directly in order to eliminate any question on where the money was on every moment of
the day. We were trying to get into a Sox compliant environment, trying to get ready
for a whole bunch of activities that required that. So, that was the one integration point.
Another side was on the other side when you start looking and analyzing your data and
making your decisions support meaningful. Our initial take was we would roll up our
order history by day, because we had the operating system with the detail, we thought customer
service uses operating system, we don’t have to get into the accounting records at
that detail. We quickly found out, and fortunately AccessTek responded very quickly, that we
needed order-level data in our accounting system to in order to do the business metrics
on the other side. So, we started setting up the dashboards and things like that so
we could use the system more readily for business reporting. That doesn’t eliminate the need
for either an Excel or an adaptive planning to handle your FPNA, but it certainly gets
you a whole lot of the way there, rather than stopping short with separation. Moderator – And Tanya, same question. So
what other systems and operations, or what other kinds of softwares have you implemented
or are looking at with the back end? Tanya – I think that definitely one of the
bigger steps, bigger achievements of this whole transition, was that we’re able to
connect various departments between themselves. We really are running a whole number of different
softwares and one of our companies is insurance brokers, so they have their own software called
GPS that keeps various information on their clients in that software. Our marketing department
uses ____, so they have their database. We have a number of other providers that we use
and none of them really talk to each other. So, what we found is that the new software
has allowed us to get all that information in there because it’s highly compatible
with any kind of data and even just by simple imports, we can get the data in and we can
make the data available to all these various departments that need it just through the
dashboards. It’s taken us less time to do that and it’s definitely providing a great
benefit. Moderator – Lindy, talk about how the cloud
allows companies, or the cloud is a system and a backbone allows different systems to
start talking to each other, that wasn’t previously available. Lindy – The concept of the cloud is, and
you guys in the audience are developing a lot of technology, I mean out on the show
floor I’ve seen a lot of vendors that are doing stuff in the cloud. They’re very specific
applications. The Intacct cloud accounting solution is a best-of-breed financial accounting
solution. So, by nature, it needs to be open enough and to have the tools to be able to
interface with lots of other systems. So, that’s inherently, in that it’s the technical,
it uses web services and APIs to be able to do that, but it’s open but with the secure
infrastructure from the cloud to be able to pass data elegantly between multiple systems,
to be able to share that data, to get the visibility in the dashboards that our clients
are looking for. I think the key in both Tanya’s and Amy’s case, and I know them very well
and their setups, to use the concept in Intacct of a multi-dimensional architecture. So, where
traditionally accounting systems would just be a general ledger, would hold just the general
ledger data, Scott you may have this as well, with Intacct to utilize this multi-dimensional
tagging of data coming from the subsidiary modules, so from sales data or purchasing
data or project accounting data, you know anything, even coming from the websites at
GrubHub, we’re tagging transactions now with many different codes or tags and then
in the dashboard level were able to slice and dice the data to get the real-time visibility
into PNLs by customer, by employee, by product line, by service line, by project. So, its
enabled our clients to get that higher level of business reporting, literally, without
adding a ton of programming, without adding a lot of infrastructure, you’re not adding
file servers, you’re not buying a bunch of applications, it’s all inherent in the
solution. Moderator – And Scott talk about where you
are in terms of integration in terms of your professional services and how you integrate
perhaps with your CRM, what you might be doing going forward with your CRM. Scott – So I think that what was critical
and why we chose Intacct was, one, for the same reason it’s a best-of-breed solution.
But, the main driver was not necessarily the accounting system, it was going to my sales
team and they actually use sales force CRM that is what they choose to use. If I were
wanting to change that they would probably behead me, they would not let that happen.
It’s something they’ve used for many many years, so it was really critical for me to
try to figure out how can I find a solution that integrates really well with my CRM solution.
And so, Intacct was that solution that has that working API that enables me to take the
order entries from sales force and put them straight into my accounting system so that
it’s seamless, doesn’t have any kind of data entry errors. So, we’re working through
the integration of that right now. Our business has some unique challenges that make that
and the way that we do our revenue recognition, but were working with kind of sales force
and our team and Intacct to make that possible. But, I think that was probably the most desirable
factor, is that really Intacct can fit into kind of this cloud hub that works with all
of the best-of-breed solutions if its sales force, or if it’s an operating system, it
works with our time tracking system as well. So, kind of holistically, given the technology,
it enables me to get the data all centralized so that we can make decisions very quickly
and allow all of the different operating units, if its sales or if its my client service team,
to be able to use the tools that they enjoy, that are effective for them, and enables them
to kind of continue to use those tools, and allows us to make decisions very quickly. .
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Care Coordination: Part 1 – – Hi folks, Steve "The Hurricane" here.
For today's episode of A
Drink With The Hurricane, we're gonna talk about care coordination and bringing it to an agency near you. Cheers. – This is A Drink With The Hurricane, the home care sales
and marketing talk show that discusses all things
growing your home care business. – So care coordination is one
of the featured presentations of the upcoming home care
Millionaires Boot Camp this July in St. Louis, Missouri. Sign up now, get your
tickets, save 40% off with the early bird special
which ends on March 31st. Super, super important, it's
ending real soon here, folks. Now this slide is one of, I wanna say around 13 or 14 slides in
that entire presentation, and the reason why care coordination is such an important topic
is this is how you increase your return on investment for a client. I've been looking at a trend over the last three or four years from the home care policy report that the total revenue per client has been going down every single year which doesn't make sense. It costs us more to get
care givers now than ever, costs us more to get
clients now than ever. Yet, the revenue generated
per client is declining. That tells me we don't know
how to keep our clients, care coordination was a
vital part of my agency which was doing almost
five million dollars a year when I left and sold the company. So when you think about care coordination and how to keep a client on services and how it helps with
retention of care givers because you're actually managing people, this is something that
every agency should do and at the boot camp, I'm gonna talk about how you can charge for this. It is imperative that you come there. Now, I'm gonna talk today specifically about what to do on a field visit as part of care coordination. So the first part of it is when
you go to a client's house, you wanna obviously talk to the client. Now when you first walk
in to the client's house, it's gonna be the client
and the care giver and they'll be putting
on a "dog and pony show". What I mean by a dog and pony show, they're going to basically
be yessing you to death and talking nicely and playing nice in the sand box and all of that. However, as soon as you
ask to speak to the client in private and the care giver leaves, that's when everything gets real, right? That's when you start finding, well I can't stand when so and so does this and so and so does that, one of the biggest
complaints that I used to get with my care givers, cuz
many of my care givers came from Africa or
from the Island Nations and fish was a staple in their diet, so if they were over a client's house and they had a lunch break,
chances are they had fish and the client's like,
oh they made this fish and it stinks up the whole
house, is disgusting, I can't stand it, can I
please eat something else? This would be a common complaint that I dealt with on a regular basis. But whatever the complaint is, you're gonna get it at this point. So here's what you wanna
do with everything. First, when you talk to
the client one on one, you're gonna wanna smoodge at
the client for a little bit. Make small talk, how you doing? How's your son? How's your daughter? If you remember back to
when you first sold the case or whoever started the case
of the care coordinator who's coming out to do this. Should remember the other family members that they're in contact with and just ask, how is so and so doing, that's a great way to smoodge for a little bit. Then you're gonna find out what's going on with the care giver and
they're gonna tell ya. Now you're gonna address any
hiccups or lovers quarrels, and I like to call it
lovers quarrels because when people are living together, or people are working together and it's a service provider with a client, there's always some kind
of issue that they have. And so when it comes up,
you basically address it and there's a couple ways to do it. One of my favorite ways to
do it, when I used to do it was basically say, okay, so
here's what I'm gonna do, now that I've spoken to
you and I got the gist of what's going on here,
I'm going to tactfully speak to my care giver now
and come up with a solution on which we can then all meet together and talk it out and find
a way to make this work. Because you really like
so and so, don't you? And they're always like,
yes, yes yes, yes yes. Usually, at this point
of the game, cuz there's a lot of stuff that goes on before this, you're talking about three weeks, maybe even a month or
so in when this happens, so they've already been
together for a while, they don't wanna change
and this will help you to keep that revolving door of care givers where it's constantly changing
people from happening. That's why care coordination is such an important part of it. A lot of times you have a
hard time keeping care givers because we can't manage
'em, they're constantly changing cases and then
they end up leaving and going somewhere else. This prevents that from happening. So, again, this was a
couple bullets on one slide of many slides of the care
coordination presentation which is one of the featured topics of The Hurricane Millionaires Boot Camp. I cannot stress enough the importance of signing up and coming to this event. Put it this way, nothing is more important than being at this event. If you really wanna scale your business to five million dollars
plus, you need to be at this boot camp, sign
up now before March 31st and save 40% off the ticket,
we are early birds special. Don't wait, sign up now and
I'll see you in St. Louis, we'll give you everything you need to blow away the competition. (bright music) .