Data is the key to understanding your customers and their needs. It may sound daunting but as long as your business has an automated system for storing and understanding data, all you need to do is make moves that will help your business grow based on data and factual information about your customers. Use data to your advantage by using it to make your business better.. Better for customers, better for revenue generation and better for positive development.
There are three key pieces of information, or data, that businesses should understand about their past, present and future customers, and those are:
How can you connect and engage with customers if you don’t have their personal data? This piece of the puzzle means customer name, phone number and email address. Being able to text and email your customers personalized content is what will build a strong and loyal relationship with them. Loyal customers are far more valuable to a business than new customers, so having a solid relationship with every customer you work with is a very big deal.
How much are your customers spending on your services? How frequently do they hire you to complete a service for them? How much is each customer worth to your business financially? These are all questions that can easily be answered through tracking your transactional data. Knowing which customers are buying which products and services from your business will help you more effectively engage with your customers and in turn, create loyal relationships with them.
Behavioral data helps a business to understand which marketing means your customers respond best to. What gets them to make a purchase or schedule a service with you? Which services are they most likely to need from you? Tracking customer behavioral data means your business understands how to market to its customers and where to reach them. Do your customers prefer to be reached through text, social media or email? Do they respond best to how-to engagements, business updates or coupons? These questions can all be answered through understanding your business’ data.
In order to make informed decisions about your business based on customer needs and what they want from your business, you need to track and understand your data. Using data to your advantage means you utilize your data as the key to understanding your customers in order to grow your business.
For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, 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!