USING CUSTOMER DATA TO DRIVE SALES

According to forbes.com, there are three things that successful companies do well with their data:

  1. They use analytics to identify valuable opportunities.
    This includes “destination thinking,” which is writing down business problems that need to be solved or asking questions that need to be answered. Using data to unlock new opportunities requires looking at data in a new way across many channels.
  2. They start with the consumer decision journey.
    Using data to develop a complete picture of customers can help a company create relevant and meaningful messages. Research shows that personalization can deliver five to eight times the ROI on marketing, and lift sales ten percent or more.
  3. They keep it fast and simple.
    The results from analyzing data should serve front-line staff. Relevant information should be communicated easily to sales people to deliver guidelines and recommend actions.

Plenty of data may seem useful, but when you look closer, it may not indicate how your marketing plan relates to customers. An example of data that isn’t always useful: the number of followers on your social media accounts. This information can be helpful in tracking trends over time, but it doesn’t drive action. Actionable data that helps drive sales include who is visiting your website, what conversions are driving revenue, and who is a returning customer.

Sifting through data can be a daunting process. According to marketingprofs.com, a couple of factors that stop companies from analyzing data to deliver relevant experiences to consumers include employees that don’t have the right skills or training in analytics, and a lack of the necessary tools or technology.

These days, every company should take the time to access analytic capabilities. The technology to convert large amounts of data into actual insights exists, and it’s important to have knowledgeable data experts who are skilled at determining which data is useful, and which data is irrelevant to your business goals.

If you want help managing your company’s data, please contact our full-service agency for a free demonstration of Conduit, our easy-to-use marketing software tool with full data management capabilities.

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