How you use your data matters – here’s why
Nowadays, it’s easier than ever before to collect significant amounts of data on your customers. From demographic data to behavioural data, and everything in between. This has significant benefits for your business. But, without using this data the right way, your business can miss out.
So, how should you be using the data you collect from your customers? How best can you implement the knowledge you have about your customer base? Here are 5 ideas.
The key to success is sharing your message to the right people at the right time. Marketing driven by data allows businesses to customise their campaign for specific segments of their target market. Then, you can market your relevant products and services directly to that segment.
Personalised marketing is a great tool as it makes your customer feel that you value them on an individual level. Personalised marketing allows you to illustrate that you know your customer’s purchase behaviour. This means you can offer relevant products to your customers. For example, if you own a pet store and your data indicates that a customer repeatedly buys dog food and dog toys, it’s probably a safe bet they have a dog or are in close contact with dogs. As such, you could tailor dog related products to them, and not waste time offering them discounts for items for cats.
Data-driven marketing allows you to extend your customer base across different platforms. If you send your customer an email, which includes a link to your website or an advertising campaign on your social media pages, this can spur remarketing. The best example of remarketing is an ad you might see on a sidebar of any website you happen to be on, that refers to a previous search you completed.
Data-driven marketers then know which platforms you frequent, and can continue to curate a message to you that is consistent and aligned beyond email and across all relevant channels.
Better product development
Being better connected to your customers, by having a deeper understanding of what they purchase and how they purchase, can be put to good use. You can target consumers of specific products and seek their feedback. Ask what they do and don’t like about the products or service on offer. Their responses might surprise you! This can help you develop your current products and services, or even create new ones, to cater directly for what your customers are seeking.
Requesting feedback from your customers is a great way to keep them engaged with your brand as it helps your customers to feel valued. If you fulfil their requests, this will only increase customer loyalty as your target audience see that you are receptive to what they are looking for.
Extend your reach
Data from sources like social media can be very telling. It can reveal the trends and preferences of your current customer base. With some research, you can extend your target audience based upon the preferences of your current customers. For example, if a large majority of your target audience will be attending a certain music festival, you could research that music festival and find other potential customers.
Mimic the language of your target market
While it is important to understand the preferences of your target audience, it is also valuable to understand the language and semantics of how your target audience communicates. If you understand how they communicate, you can be more accurate when designing keyword searches. Semantic search is the process of searching in natural language terms instead of keywords. Data makes it easier for search engines to understand what a user is searching for and how they search for it. Data driven marketers then incorporate this knowledge into their website search functionality. Ultimately, this makes for more successful Google rankings and improves the user experience for visitors.
So, it’s important that you use the data that is available to you. However, with large amounts of data comes great responsibility. You must keep the data of your consumers safe, otherwise you risk losing a loyal target audience.
If you would like assistance understanding the data of your target audience and would like to put the knowledge gained from data to good use, contact us today.