The age of the customer is here. Customer perception can make or break your business. A good feedback would encourage referrals, testimonials, 5 star reviews. However, a poor experience is also spread through the same channels.
Marketing campaigns are costing businesses more money, because it is getting increasingly harder to get your customer’s attention. While it is difficult to get your customer’s attention, digitization – emails, social networks, mobile phones, mobile apps etc give you a lot of opportunities to have an understanding of your customer.
What does that mean for businesses:
- Investment in Technology: Businesses need to invest in technology that can adequately monitor the multiple data points that are required to effectively engage the customer.
- Data Collection: Businesses need to take data collection seriously. Capturing multiple touch points of their customer including demographics, social network accounts, preferences etc for improved relevancy in marketing messages.
- A new Understanding of Customer Behaviour: Understand your customers even better through data analytics.
- Churn Analysis: Using various data points, businesses can now isolate/analyze trends that lead to customer drop-offs or inactivity.
- Implementation of Value Based Pricing: Businesses can now sell products at lower/attractive prices to customers who are least likely to buy.
- New way to Cross-Sell Your Products: Increased accuracy in cross-sell campaign targeting through machine learning and artificial intelligence.
Understanding your customer can save you advertising costs, give you valuable feedback and uncover insights as to how to grow and improve your business. These data points are what we call the 360 degree view of the customer.
Start Collecting the Data Now
There is no better time to start collecting this data than right now. Each website visit, transaction, form interaction that gets captured will provide you ammunition for your next marketing campaign. If you own a small business with a few customers, dont put it off, start now as data can help grow your business.
Keep the Data Organized
Keep your data organized. Data validation is key because wrong data is even worse than no data. Avoid data silos. Have an understanding of your customer from awareness to feedback/complaints in one view.
Start Using Marketing Automation
Engage your customers like never before using marketing automation. If you understand that your customers are different an automation platform simply acts different to each of your customers.
- Removes human intervention in applying analytical data to marketing campaigns. on the fly
- Based on certain predefined rules, the application that pushes out subsequent campaigns.
- Personalized messages based on customer’s attributes, demographics and preferences.
- Delivers messages to the customer at the time of interest.
Need specific information to your business on how to leverage on data analytics and omnichannel marketing to keep your customers coming back? Lets have a chat here: firstname.lastname@example.org