How to Turn Customer Data into a Goldmine

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How to Turn Customer Data into a Goldmine

Businesses, both brick and mortar and online based, collect and store volumes of customer data. While this may seem like standard procedure, there are other ways this can help you. Some of the most successful companies use customer data to build relationships. With such information, companies can tell which products are in great demand and which ones are not. They can also identify high and low seasons. Therefore, it is not in vain that you keep collecting data on your customers. It can help you deduce interesting and useful shopping patterns for future use.

Think of how good you would feel when someone calls and asks how you are getting along with the car you recently bought. It makes you feel wanted and recognized. Companies have, in the recent past discovered that they are sitting on a gold mine with a potential for giving them a competitive edge. Past customer data can work for you too. By analyzing past customer trends, you can develop plans for marketing and selling your new product.

Customer data tells you what customers want

In as much as you think you already know your customers shopping patterns, you do not know it all. It might shock you to realize that what you think about your customers is not actually what they are doing. For instance, you might think that the reason customers are buying more tablets is because they are the in thing. It could be that they are interested in an application for reading eBooks. By remaining objective, you can let customer data guide you into selling a new product.

Analytics

Without a way of analyzing data, collecting it will be an exercise in vanity. After capturing all the information about clients, use analytics software to guide you on certain aspects such as trends. You must be agile and change with the technology in place. This ensures that you do not lag behind when customer requirements are changing.

Avoid platform bias

From where you seat, the thinking is that prospective clients can only access your website via computer or laptop. If that defines you, wake up from the daydream. People are now using tablets and smartphones among other devices. Therefore, keep your website bias-free. Make it such that customers can access your site from any device or platform. Only then will you be able to connect all dots and obtain a true insight on your customers’ behavior.

Use feedback to your advantage

The insights given by your analytics software should help you create a sales approach that is customized for every customer. If, for instance, you prefer calling prospects directly, you should craft an approach based on features of the new product that are compatible with a prospect’s past preferences. If a prospect does not like being called, send them emails. These and other aspects can only arise from a keen analysis of the data you have in store.

Let customer data work for you. Use the insights to tailor a marketing approach for the new products you are planning to launch or have already launched.

Your customers are unique. The data you have provides a personal insight into how your clients behave. 

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