Here at Peazie, we’re a big bunch of data nerds – we LOVE it. We use insights from the data we have collected from running thousands of campaigns to continuously create high converting promotions for our clients. We also strategise what type of data our clients should be collecting from their promotional landing pages in order to achieve the best result.
You may already have some great data that you are not taking advantage of. All of those names and addresses that you have sitting in your database are actually a treasure trove of information that you should be using to expand. Here are the top four ways that the random customer data that you accumulate without even trying can help you.
The data that you collect can help you to create a more personalised experience for your customers. Your customers will spend around 13% more money with you if they feel closer to you, a study by Infosys shows.
Creating a buyer profile from customer data allows you to create personalised recommendations for your best customers and provide geo-targeted promotions on the mobile platform.
If you already know who is buying from you, then you can customise your loss leaders specifically to their needs, following closely in the footsteps of top enterprise companies who are already doing this such as HP. Your most loyal customers are the ones who deserve the most customised offers anyway, and their data is the key to creating that offer for them.
If you have real time data, you are in a privileged position. You will be able to watch your targeted promotions move directly to the channels that work best for that audience. Watch your engagement and conversion rate soar as you directly answer the call of your most loyal clients.
In today’s highly competitive and instantaneous market, each iteration of your products must outperform the last. Your customer data can speed up the feedback that you get on your current product line, allowing your R&D to move more quickly in the direction that your customers demand.
If you apply the proper analytics to your customer data, you will be able to specifically identify the products that your clients will pay for, as well as the price point that will maximize the effort for you. You can direct R&D in a way that focuses on improving the most salient aspects of your products.
Your best prospects are always moving between channels, and your customer data is the best way to follow them. You will be able to more closely monitor the journey of a prospect that becomes a customer, focusing more of your efforts on the campaigns that were most effective for you.
Customer data also allows you to find the behaviour patterns of your highest value clients. With this information, you can take full advantage of Pareto’s 80/20 rule (you get 80% of your profits from 20% of your customers), reducing your marketing costs while improving your ROI.
This list is only the beginning, make sure to contact Peazie to learn how to create a promotion that captures the right type of data, from qualified leads, to help you achieve your business objectives.