How much do you know about your customer?
You might be seeing a pattern in the type of people who buy from you; their age group, industry, location and more.
Yet, you may have more pressing questions which pertain to their level of satisfaction, their pain points and their buying behaviour,
Of the many advantages technology has introduced to business owners, few compare to the power of data.
Unlike before, we can now collect data from more sources.
When used effectively, this has a transformative impact on business operations as a whole.
In the age where your next favourite movie has already been recommended to you on Netflix before you’ve even watched it, your business can benefit immensely from big data.
5 Effective Ways Big Data Helps Businesses Achieve Their Goals?
Big data is one of the most diverse tools business owners can use when growing their business.
Data analysis allows you analyze large quantities of data to make informed business decisions.
Customer data is collected on a massive scale.
At times, it can be overwhelming.
However, that doesn’t take away from the insights gained from this data mining.
With data analysis you get to know:
- Your customer’s pain points
- Your client’s buying behaviour
- The best way to deliver customer service
- Which design is preferred by your customer
- How best to improve customer acquisition and retention
Finding Untold Customer Pain Points
The purpose of every business is to solve particular customer problems.
That’s why you exist.
Not all customer problems are equal, however, many businesses that offer stellar solutions to huge, real-world issues fail.
“Cost and marketing” is a frequent reason. The truth is, many intelligent companies find customer pain points and sell their service or product as a solution to them.
But how do you identify and act upon customer pain points?
By using customer data.
An example is integrating customer surveys into your marketing strategy.
Through directly asking your customers what they dislike about your products/services and extensive experimentation, you will know how to tailor your offering to best suit their needs.
Additionally, there are data out there like reports, review sites, scholarly articles that have analyzed a ton of information for you to use.
2. Understanding Customer Buying Behaviour
Buying behaviour goes beyond what they buy from your business.
It’s the intimate observation of their entire buyer journey from when the have a need for your service to their research and making the final decision to buy from your brand.
A cool way we do this for our clients is by integrating Google Analytics on every website we design.
This helps our clients understand what keywords and channels visitors use to find their website, what pages they visit the most and more.
Using this data, out clients are able to personalize their marketing offerings better for the future.
3. Improving Customer Service
When consumers are in the decision phase of their purchase they need as much information as possible, especially the new ones.
Chatbots are being deployed on sites to handle common customer questions.
These questions are compiled from the mass recordings and sessions gotten from real customer service agents.
By analyzing large amounts of this customer data your business can respond quicker and more accurately to the pressing needs of your customers.
This is where an efficient website comes in handy as it will be able to collect the information you need to help your customer every step of the way.
Developing a Better Design
With data analytic tools like Google analytics or Lucky Orange, you can understand the journey each user goes through as they navigate your site.
You’ll get to understand the page that they are more often landing on, the buttons they click frustratingly, and so on.
With this data, you can run A/B tests to see what changes generate more leads or lead to better sales.
Increasing Customer Acquisition and Retention
The key to growing any business is figuring out how to get more customers and keeping those that you already have.
With big data, your business will be able to access the latestt trends and cycles concerned with your customer, business and industry.
These insights lead to innovation in key areas concerning your product and processes that will lead to happier customers.
For instance, by analyzing where your customers are buying from you can develop your distribution channels for better access to your product.
Discovering new ways in which your product is being used can also lead to complementary services and offers that will improve brand loyalty leading to repeat purchases.
Big data can have a profound impact on almost every area of your business.
But this can only happen if you are able to interpret it and are willing to act on the insights.
Acting on this data will help you gain a distinct advantage that will have a great impact on your business goals.
Over the past few years, we have created innovative branding solutions to improve and streamline our client’s business processes.
We can do the same for you.
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