Data – The Key To The Customer Base You Need

Posted on Apr 11 2017 - 6:33pm by Editorial Staff

We’re all living in a world that is a lot more digital. Consumers and businesses alike have been evolving their practices for the past couple decades to keep up with all the latest methods of using digital technology that makes it more convenient to both find and buy products as well as run a business. But how is it that you make sure you’re not just living in a digital world, but thriving in it? The answers vary from business to business but your method of finding those answers always remains the same. You need to look at the data.

It informs the marketing strategy

Perhaps one of the most useful ways data can help a business struggling to find customers is to find the approach that best works at not only attracting but converting them. With how prevalent digital marketing is to most businesses, it should be no surprise that many of the tools you use to manage your campaign also offer analytics to help you better understand your results. In particular, using Google Analytics along with your website can inform you of just how well it works and what parts of it don’t. You can see the average time spent on different parts of the site, identifying the most interesting pages. You can see bounce rates of the pages that lose your visitor’s interest. You can even see by which methods the visitors find your site, whether it’s through social media channels or search engines. All this data allows you to emphasize and make better use of both the methods that draw customers to the site and the elements that keep them on it and interested.

It gives you a better look at customer behavior

How customers interact with your digital marketing efforts is only a part of your connection with them. Customer relationship management is all about looking at their overall behavior throughout the customer lifecycle. CRM software works even better in concert with other parts of the business too. Salesforce integration consultants that pair your CRM with other sections of the business, from marketing and analytics to accounting, gives you a better overview of how current customer relationships play into the grand scheme of goals. It helps you collect better-informed data on customers that allows you to better close leads and study behavior that you could better profit from. For instance, a good CRM system could highlight if a large share of your customers tends to repeat custom regularly, showing potential for a subscription or membership system that makes it more convenient for them to keep doing so.

It keeps you ahead of the rest

Beyond bringing in more of your own customers and better managing your relationships with them, a look at the data could help you win a bigger market share from your competitors as well. While analytics and CRM help you look at data in micro levels of detail, looking at the macro data of trends can have just as big a benefit. Good marketing, product development, and sales are all about societal trends. Studying the past marketing and purchasing trends and driving factors behind them allow you to better recognize modern behaviors that could be the precursor to trends. It can help you pre-empt those trends, making the most profit from them in the meantime.

Big data has left a big mark in the world of business. It’s quickly becoming a defining factor between businesses that know their customer base and those who are still groping and hoping for a lucky hit.

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.