Seven Tips for Leveraging Customer Data
Most businesses understand the importance of collecting customer data. Unfortunately, not all businesses know how to leverage that information.
If you find yourself in the position of sitting on a treasure trove of customer information, congratulations. Now it’s time to put that information to good use. What follows are seven ways to leverage customer data to your advantage:
Tip #1: Ask for feedback. Offer incentives for customers to provide feedback and online reviews and then use that information to improve your products and services. This information also can be used to extrapolate what the majority of your customers are looking for in a product or service.
Tip #2: Create new products or services. Determine which are your most popular products or services and create complementary offerings. A health food grocer might offer customized meal plans and recipes, for example.
Tip #3: Customize special offers. Analyzing things like purchases and website clicks lets businesses know which promotions or special offers were effective in attracting customers. By the same token, it also can prevent businesses from wasting time and money on promotions that do not resonate with customers.
Tip #4: Design a more enjoyable shopping experience. Research continues to demonstrate that customers are willing to pay more for a product if they believe they are receiving outstanding customer service. To put it another way, it’s not always about what you sell but how you sell it. Tracking customer buying experiences can go a long way toward ensuring that your products are selling. It also can improve cross-selling or up-selling opportunities.
Tip #5: Personalize your customer service. When a customer contacts you with a question or issue with a purchase, make sure this experience is highly-personalized. Call the customer by name, know how long this customer has been with your company-small details like this make a big impression.
Tip #6: Produce new content. If you sell home health care products, you can track what your customers are interested in and then tailor specific content, such as blogs, around those things. This content is sure to be of value to your customers and is likely to be shared by them.
Tip #7: Recognize patterns in customer behavior. Take a look at the behaviors of your high-value customers to see how certain customers make decisions or what type of marketing strategies cause them to act. Focus on these behaviors and strategies and you are likely to attract additional high-value customers.
All the customer data in the world won’t benefit your business if you don’t leverage it to your advantage. Once you do leverage that data, however, you will be pleasantly surprised at what it can do for your bottom line.