Introducing Our Summer 2016 Intern

The start of a new semester means a great intern for Growth Strats. If you know anything about our internship program, then you know Growth Strats interns don’t make company coffee runs (unless they develop our office-wide addiction to Baker and Barista). Our interns are here to learn, grow and make an impact. We’re always excited to bring on new interns that contribute fresh ideas to the team.

This summer, Growth Strats welcomes one awesome intern to assist in data analysis and we can’t wait to see what he achieve.

Tamerat

Tamerat Mulugeta, Data Analytics Intern

 

Tamerat Mulugeta joins Growth Strats as an Analytics Intern. He currently attends the University of Maryland, College Park where he plans to graduate with a degree in finance and information systems in 2018. After graduation, Tamerat hopes to put his entrepreneurial spirit to use in the consulting field where he will be able to broaden his skill-set, drive innovation, and add value to a variety of clients both commercial and public sector.

Tamerat was initially interested in Growth Strats’ advanced analytics focus.  He firmly believes that analytics is the future of business. While interning this summer, Tamerat hopes to get his hands dirty and hone his skills in Google Analytics, SQL, Tableau, and other aspects of the business that are essential to adding value to Growth Strats.

He joins us with two years of undergraduate studies under his belt and an exciting study abroad experience in South Africa. At school he serves as the vice president of finance for the Black Business Association and an executive board member for College Success Scholars, a program focused on mentorship and professional development at the University of Maryland.

When he’s not at the office or in class, Tamerat enjoys playing basketball with friends, working out, and mentoring younger students of diverse backgrounds.

6 Tips to Improving Measurement for Non-Profits

Your mission. Be able to articulate how PR and marketing efforts support the organization’s mission. How do your daily activities help accomplish the mission, be it raising money or finding volunteers?

Stakeholders. Nonprofits have many stakeholders, including volunteers, donors, sponsors, employees, and the people they service. It’s essential to concentrate measure results involving each category of stakeholder.

Metrics. Select at least three specific metrics for analyzing various categories of communications including email, marketing, public relations and social media. Select metrics that are quantifiable, with a number such as an amount of money or percentage and that can be compared to another number such as past performance or competitors. It’s also vital to include date by when the goal will be achieved.

Leadership. Obtaining support for measurement from the organization’s leadership will make life easier both immediately and over the long term.

Current data. Surveying departments can reveal data and tools you already have. Nonprofits often have more data than they think they do.

So what? Asking “So what?” can provide context to data. So social media activity spiked one month and donations spiked the following month. So what? Determining why it spiked and learning how to repeat the performance makes measurement valuable.

5 Metrics Every Small Business Should Track and 5 They Should Not

IMAGE DISTRIBUTED FOR AMERICAN EXPRESS OPEN - The owner of Merz Apothecary in Chicago prepares for the increase of traffic expected on Small Business Saturday after a front window makeover thanks to designer Simon Doonan. (John Konstantaras / AP Images for American Express OPEN)

5 Metrics Every Small Business Should Track and 5 They Should Not, November 18, 2015

By: Germar E. Reed

There is a wealth of data that small businesses can and should be tracking in order to ensure that they are properly armed to make better business decisions.

But which metrics should you track?

All of them?

No!

If data isn’t actionable or useful, don’t waste your time. A KPI is a key performance indicator– the metrics by which you measure your success. It’s a good idea to decide on the metrics that you care most about and put them together in a dashboard to make tracking easier/quicker.

Read more

Small Business and Advanced Analytics

Small Business and Advanced Analytics, October 29, 2015

By: Germar E. Reed

According to McKinsey research, by 2018 the United States will experience a shortage of 190,000 skilled data scientist and analyst. While most small business are not able to employ a full analytics team to manage the large amounts of data being collected during the day-to-day operation of their business, many have the ability to hire a consultant to complete specific tasks as needed. What tasks can a Data Analyst/Scientist assist you with? Read more

Shared Learning: 72% of Senior Marketers Consider Data to Be A Strategic Asset According to Research Live

72% of Senior Marketers Consider Data to Be A Strategic Asset According to Research Live

GLOBAL — 72% of senior marketers consider data to be a strategic asset, according to new research from the World Federation of Advertisers (WFA).

Despite this, more than half are ‘only just starting’ the process of giving it a central role in their marketing.

The study is based on responses from 32 companies with a global annual marketing spend of $35bn. It found that 31% of companies described themselves as advanced or highly advanced in the adoption of data-driven marketing (DDM).

However, 56% of respondents recognised that they were still early in the journey, describing themselves as in the initial planning stage and yet to deploy a DDM strategy. Read more

Marketing Metrics Made Simple

Marketing Metrics Made Simple, September 9, 2015

By: Germar E. Reed

Return on Investment (ROI)

Return on Investment (ROI) or Return on Marketing Investment (ROMI) equals the gain from a program minus the cost of the program, divided by the cost of the program.

ROI = (gain – cost) / cost

For example: Let’s assume that you started a new (incremental) advertising program, that it cost $50,000 in its first year, that it promoted $600,000 in incremental sales during the same year, and that the gross profit from these sales was $200,000. Read more

The Winds of Innovation

The Winds of Innovation, May 25, 2015 

By: Rafael C. Turner

There is an ancient Chinese proverb that goes: “When the wind of change blows, some people build walls, others build windmills.” Modern day translation: Innovate or Die.

Innovation calls for a paradigm shift from the bureaucracy and complacency that limits an organization’s ability to realize its full potential to one that taps into the power that lies within the creative spirit of its human capital.

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5 Moves that Impacted Detroit Entrepreneurs in 2014

5 Moves that Impacted Detroit Entrepreneurs in 2014 – Janaury 30, 2015 

By: Quentin G. Love 

Public-Private Partnerships (P3s)

Love or loathe them, P3s have been a hot topic this year and things will likely get even hotter now after a conference was held here downtown.  There is room for improvement, but it’s very unlikely that much large scale development will occur without them, so pay attention. These projects will open the door of opportunity for prepared entrepreneurs to start up and scale up.

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Why Analytics Matter

Why Analytics Matter, January 5, 2014 

By: Germar E. Reed

As we reach the midpoint of 2014, we are in the middle of a fundamental transformation in the way businesses view analytics. Analytics are now seen as core to a business’ growth strategy and means for measuring, implementing and sustaining success. I am extremely pleased to see this happen and that marketing analyst no longer have to fight for the value of analytics. The fact is, those who fail to invest in understanding what drives their business will find it hard to compete in a world that thrives on data. This is why analytics matters.

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Think Lean, Grow for Free!

Think Lean, Grow for Free – October 1, 2014 

By: Scott W. Bivens

Several forms of waste plague just about every type of business. Whether a start up, growth company or government organization, countless amounts of effort, energy, and money are invested in activities that just don’t add value to the business or its customers. In fact, this very thing works counterproductive to goal achievement, while pulling even the most established businesses to the wastelands of ineffectiveness. Trust me, this is one place you don’t want to be.

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