In today’s world, consumers are constantly bombarded with ads and marketing collateral that they’re programmed to ignore. This makes the need for meaningful interactions and targeted messaging that much more valuable. Your engagements with your customers need to be data-driven and direct.
Data collection and analytics have changed completely in the last five years, even the last year. Businesses need to know their data now more than ever. Just as importantly, businesses need to know how to use their data to grow. Having information about your customers, trends, products and marketing at your fingertips is essential for business growth and development. When customers choose your business over the competitors, it becomes your responsibility to ensure they continue to do so. If you’re not reaching out to your customers with data-driven, meaningful engagements, your competitors will.
Liam Hanhan from Elicit says, “Customer data can be collected in three ways – by directly asking customers, by indirectly tracking customers, and by appending other sources of customer data to your own,” said Hanham. “A robust business strategy needs all three.” In other words, business owners and employees should be asking customers for their information with each sale or service. A pen and paper won’t cut it in today’s world, and this data needs to be stored somewhere that is both safe and useful.
Let’s get right to it, how can small businesses access and use their data to grow?
Turn Your Data into Revenue
Knowledge = power, right? And in the case of data usage in business, knowledge = revenue. Capturing your customers’ contact information is your avenue to future engagements. We all know that loyal customers are much more valuable to a business than new customers are. Save your business some money on reeling in new customers, and instead watch your revenue increase as you build loyal relationships with the customers you have already worked with.
Business’ data increases revenue in several other ways, as well. Knowing which marketing methods are working for your business and which methods are a waste of your hard-earned cash is one of these benefits. Another is the factual information it provides pertaining to which of your products/services are most in-demand and which ones could use some updating in order to be appealing to your consumers.
Improve Customer Experience
Customer experience is the most important factor in overall customer service. Of course, we all know that a business’ ability to provide outstanding customer service is what builds their reputation and helps them succeed. Since customer experience is such a huge part of overall business growth, business owners should be focusing on the data that will improve each and every experience a customer has with your business. Whether these experiences are in-person, through social media or through text/email engagements, they need to be positive.
How can you make customer experience a priority? Know your data. Your customers’ purchasing habits and behaviors will help you better meet their demands, and provide them with better customer service. When you effectively track your customers’ purchase history, you are better able to market to them because you know which of your services they benefit from. Marketing to your customers should always be a positive interaction, and shouldn’t feel sales-y and impersonal. Knowing your customers improves customer experience, it’s as simple as that.
Gathering data + knowing how to use that data is a business’ key to successful growth. Automating the process of data collection, targeting and engagements through FreshLime’s platform is a business owner’s best friend, because all of the work is done for you, and more importantly it’s done correctly.
For more insights on marketing strategy that actually works for small business, connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. If any of these tips have helped you or if you have anything to add, please comment below. We’d love to hear from you!