When it comes to getting to know your customers, there’s never been a better time to be in business. Companies are able to collect and track more data than ever before, opening up their ability to understand their customers’ habits and behaviours at a level that was never thought possible just a few decades ago.
But all of that data comes with a cost. Sure, there’s lots of it – but what stuff is relevant to your business? How can you quickly and easily turn an abundance of information into actionable data that will help you to make the best possible decisions for your organization? If data isn’t being used or attributed correctly, it’s a hindrance, not a help. Want to start using the power of information to improve your company? We share five tips, below.
Personally Connect with Customers
Thanks to social media and online reviews, companies and customers are more directly connected than ever before. This is the perfect opportunity for organizations to hear what people are saying about their products and services, and respond and innovate as needed. With content creation an important part of your digital presence, it’s also the ideal place to track what types of articles, photos, and videos your customers are engaging with.
Target (and Retarget) your Audience
Using what you know about visitors to your website will allow you to remarket to them with a more personalized message to increase online conversions. Similarly, you can take existing customer data and use that to create look-a-like audiences that you have not yet engaged with, allowing you to increase your reach while still taking a targeted marketing approach. Keep your ads relevant to ensure your audience is interested in what you have to say.
Predict Customer Behaviour
After spending some time with your company’s customer data, you’ll start to understand what your audience likes (and doesn’t like) when it comes to your business. This will help you to be more proactive when creating a streamlined customer experience, and ultimately, more conversions. As you use data to get to know your customers, look to create a more personal experience to cultivate those relationships and stay a step ahead of your competition.
Monitoring key performance indicators, such as conversion rate and cost per acquisition by network can help your business to identify which advertising methods are working for you, and which ones aren’t. This way you can focus your budget on campaigns that you know will help you to increase revenue, and ultimately make the most of those marketing dollars.
Adapt in Real Time
Waiting for the end of a campaign to evaluate whether or not it was a success is a thing of the past. Thanks to online data, you’re able to see results in real time and adjust your strategy if needed in order to get the best possible return on your investment. If something isn’t working, you’ll be able to identify that immediately and revise your campaign to achieve a better result.
We can help your company turn spreadsheets into easy-to-read visual insights that translate into better, more efficient decision-making for your business. Contact us to learn more.