We are living in a world where businesses that do not personalize customer experiences have a hard time competing in their respective industries.
A McKinsey report cited that organizations leveraging customer behavior data to generate insights increase their sales by 85 percent and their gross profit margins by 25 percent.
And still, so many organizations have yet to take advantage of consumer behavior data in their marketing strategies.
They fail to understand that you don’t need to be an internet giant to gain a competitive advantage in your industry.
The right tools, knowledge, and strategy will take you there, regardless of your business size.
How Do You Leverage Customer Data to Build Incredible Campaigns?
It all starts with having the right tool.
A good customer relationship management system will help you gather the right customer information.
It will also help you manage relationships with prospects, customers, and future customers. It also connects you with other cloud services that your business uses.
For every dollar spent on your CRM, you get an ROI of $8.71. Take advantage of these statistics and choose from the many CRM platforms available.
Salesforce, Zoho, HubSpot, SugarCRM are just a few of the popular options. With a good CRM, you can manage interactions and boost customer loyalty. You can also access individual customer data from any device and ensure the security of the data.
How to Capitalize on Customer Data
It is not enough to know who your customers are. You must also know what their behavior is when they interact with your brand.
This helps you create a picture of what they want and need, as well as of when and how you should deliver it.
The data will help you understand and segment your customers in order to improve their experience with your brand. It also ensures that you deliver value with every interaction.
Data collected can help you acquire customers, retain them, and grow a following for your brand.
Today’s customer uses different touchpoints to find your brand. Understanding this journey is crucial for your marketing. You can better organize your keyword research, run social media campaigns and align your content marketing campaigns to resonate with your prospects and customers.
Sixty-seven percent of leading marketers have realized the value of creating connected customer journeys across all the business touchpoints and channels.
It ensures the success of your marketing strategy. Fifty-two percent of consumers will also switch brands if they don’t receive personalized communications.
As more and more customers use all these touchpoints to get to your brand, you get a mountain of valuable data.
This data shows you their behavioral patterns and why a certain strategy failed while another succeeded.
You can use this information to:
- Align your marketing strategy to purchase decision drivers that increase conversions.
- Target more customers with similar behavior as those you converted during the sales funnel.
- Direct resources on prospects likely to become customers.
- Invest in the most effective channels and initiatives that improve customer acquisition and improve your return on investment.
Use Data to Grow Your Customer Base
Use customer behavior data to cross-sell and up-sell. Take note of the customer’s purchase history, items they liked, items they rated, their shopping cart items, what they viewed, and what they purchased.
This information will, however, depend on your business. Use this data to introduce products to customers at the right time. For example, a customer who bought a baby walker may be interested in a baby carrier.
Customer data is great at revealing valuable customer insights. You also get insights into your business and the relationship between your customer and the business. Use the right tools to help you capture data, analyze it, and act on insights it offers. It makes you better equipped to create personalized messages, target the right customers at the right time, and get a great return on investment.