The future trend of online shopping is going to be driven and inspired by customer data more than it ever has before. Every day across the world consumers spend billions of dollars shopping online. The prediction is that by 2021 more than 2.14 billion people worldwide will purchase goods and services online. And as a retailer and business owner, you want to grab as much of those sales as you can.
One of the ways your business can stay competitive is by using customer data. The collecting of customer information is nothing new – retailers have been gathering data from their customers for years. What’s different is how they’re getting this data and what they’re doing with it.
Smart retailers are getting customer information by using marketing automation software platforms to do the work for them. They don’t even have to be tech savvy to use this software – they’re consulting with outstanding IT support teams to help them implement these software applications.
The right data can make a huge difference in your marketing campaign and help you reach the right customers for your business. So just what type of data insights are business retailers collecting from online marketing software?
One of the best ways to identify who your target market is, so you can tailor your marketing plan after them, is by tracking demographic data. When you know information such as gender, age, and income you can determine just who is buying from you…and who’s not buying from you. If your business brand has a specific target market audience that you’re not reaching, you’ll quickly find out by collecting this type of demographic customer information.
When you track the traffic sources of your customers, you’ll be able to know what site they were on that drove them to visit your retail site. If the data information is telling you that a large percentage of your customers are being driven from Twitter or Facebook, you can use those platforms to communicate more with your customers. You’ll be able to deploy a marketing campaign that’s specific to each different platform, building your business brand so that it expands to reach more than one target customer group.
Every time one of your customers makes a sale you receive valuable data that you can target with your marketing plan. The information you get from a customer sale includes:
- What goods or services were purchased.
- The date and time the purchase was made.
- How much your customer spent on one sale.
- If discounts were used for the sale.
- Where your customer lives.
This information is valuable in that it lets marketing automation software find patterns in your customer’s shopping habits. You’ll know exactly who’s buying from you and how you can improve your marketing plan to extend beyond this consumer group. Moreover, you can make use of feature-rich virtual phone numbers such as those provided by CallHippo in order to monitor and analyze the efficacy of your sales and customer support teams. The data from an advanced business phone system will further enable you to streamline your sales efforts.
Benefits of Data-Driven Marketing
Once all of the data has been collected through marketing software, virtual phone system, and other consumer engagement tools, it’s time for you to put that data to use and come up with strategies based on customer insight. The biggest benefits of data-driven marketing include:
Personalized Customer Marketing
Data-driven marketing allows you to create and customize brands for any of your marketing plans. You’ll be able to quickly abandon campaigns if you’re not getting the results that you want and modify brand messages based on the continuous input of new customer data.
Automated Marketing for Different Networks
Marketing software lets you take consumer data and use it to build ads and messages that reach your customers on different networks. You may develop one brand for customers who use a social media platform and another campaign brand for customers who are better reached through email.
Improved Product Development
As with targeted brand campaigns, data-driven marketing lets you develop products that are a better fit for certain consumer groups. Personal data gives you a good understanding of what people want, so your products can reflect the direct needs of your customers.
Refining Consumer Experience
It’s not just personalized consumer marketing and product development that benefit from collecting data, you’ll be able to refine and improve your customer’s experience at every level that they come into contact with your business. This includes optimizing your website and online presence, creating customized special offers, and targeting customers with personalized marketing.
More Businesses Than Ever Using Data
Whether you’re a start-up business or are already established and want to improve your sales and marketing strategy, you can’t afford to ignore what consumer data can do for you. Data-driven marketing strategies are becoming the preferred tactic for business retailers around the world. If you’re not using data smartly, you can bet that your main competition is.
As online sales jump even higher every year, you need a clear business strategy that uses consumer data in ways it’s never been used before. You’ll be able to make multiple business decisions that are data based. You’ll also be able to better understand your customers and the trends they follow based on their buying history.
The bottom line of data-driven marketing is that you get to optimize your entire business process. You’ll be able to provide customers with the products and services they want so you’re not edged out of your retail niche by your competition. If you’re not using data-driven marketing, what’s holding you back?