Data and analytics are playing a huge role in the steps taken for a successful business.
With the right data, you can improve your decision making for the business. It can also help in predicting consumer behavior, marketing trends, determining the ROI of your marketing efforts.
When you use the data for your business, you can also understand more about your customers and market.
According to the research, more than 73% of data goes unused for analytics. Even though businesses are using more tools for data and analytics, they still don’t understand the importance of using it and for what.
As for small businesses, you can use the data for generating sales and getting more customers. To know how to do it, here are some ways to understand.
Ways To Use Data For Generating More Sales
In the modern world, data is a powerful ingredient behind a successful business.
However, understanding how this data can help and where it can be used is an important topic.
To help businesses, there are different tools and software that have been launched over the decades to help in data integration.
But since less than half of businesses are using it correctly, the understanding of how these data become crucial.
Also, there are lots of failed experiments that occurred due to improper use of data in their assets.
To understand different approaches that you can do for boosting sales, here are a few for considering.
1. Use For Understanding Unique Niches
Data can help in understanding and narrowing down the audience segmentation. Also, it plays a big role in targeting the niches and groups of audiences to create better ad campaigns.
When you have a better understanding of your audience, you can direct your campaigns to get more leads and sales.
By leveraging the analytic programs, you get deeper traffic insight regarding the information about demographics.
Also, you can identify specific niches for boosting the reach of certain products as well as marketing messages.
It includes much deeper information like :
- Which keywords are driving more customers?
- Which products have more demand or the highest click rates?
- Which specific geographic location is growing more?
For example, Pet Canva is an online print store. Also, it’s an ideal example for creating hyper-targeted ads,
The marketing team grabs the opportunity for creating the custom blankets where they added pet portraits too.
They make this niche-targeted with their social media ads, especially focusing on customers who have dogs and are interested in such products.
2.Write Case Studies Influential And Compelling
It’s not just about telling how amazing your product is, people want to see the evidence.
By using data including the sources like website conversions, customer reviews, success rate along with real-life information, you can create case studies and use data to back it up.
According to Demand Gen’s Survey Report, case studies are the preferred type when it comes to content that influences the purchase decision.
The majority of customers look for content pieces, mostly it’s 3 or 5 pieces to purchase the product.
The best way to create influential and compelling case studies is using customer data which can be high quality in content.
Adding past interviews, data-driven results, surveys with past clients can help too.
3. Optimizing The Product Based On Data Predictions
If your business can’t keep up with demands, either your inventory becomes out of stock or causes problems like product delays. This not just upset the customers but also reduce sales.
Here is when you need to use past market data and predictive analytic. When you use technology like predictive analytics helps you in creating a management system for your inventory.
It can help you in having proper order of stock along with forecasting sales as well as demand.
Such programs also track ups and downs in the market by planning inventory.
4. Developing Product And Customization
When it comes to staying ahead of your competition, customization is an important key for developing a better sales strategy. Also, companies are required to compile and analyze the data about their audience.
The help of customer feedback is effective for understanding and determining how you can sell the products better. Also using the information for making better strategies.
Also with the data and such information can help the company in eliminating any kind of risk in sales strategies, and ensuring victory when it comes to competitions.
For example, Netflix and Amazon are the two best cases to consider on how viewers’ response rate can be used.
They use the information and data for customizing the homepage for the viewers based on their preferences.
Also, they highlight the recommendation and similar content that people like to watch in their streaming services.
5. Optimize The Pricing
Pricing is the biggest challenge when it comes to introducing the products.
It’s one of the factors that can drive customers away when it’s too high, If it’s too low can cause loss and customer perception.
With external research for example tracking the competitors and highlighting market opportunities. Analyzing the transaction that happened in the past and customer base can help.
Also using CRM data or similar software, you can segment customers according to the price points. It helps narrow down the price range that is ideal based on different groups and their tolerance, demand, and behavior.
Combining the data from internal and external points can help you in getting better insight. It’s also needed for determining and optimizing the price structure for sales potential maximum.
6. Refining The Message
Customers have their set attributes and communications required which helped in tailoring desires, specific needs, and preferences.
Also, businesses need to create the customer segment based on attributes of their wide range depending on age, sex, geographic location, and marital status.
You can do the A/B testing the element of different messages. They analyze the customers to respond to different headlines, copy, images and offers for better work.
7. Using NLP For Better Engagement
Brands that successfully engage their audience at the right time can boost their sales and conversions.
According to One Study, the brands interacting with their audience personally through social media increases the positive feelings towards them.
With this positivity, the customers needed better and it resulted in more conversion as well as sales. It boosts loyalty towards the brands too.
Interacting with your audience on social media creates more awareness about your brand. It makes customers believe that the brand cares about them enough to interact more.
It helps in boosting the reputation of the brand and attracts more sales.
The interaction can be defined as one of the phases of the buyer’s journey. The important point here is when you reach and how.
The brands track this by using a tool like NLP which also means Natural Language Processing. You can monitor the online chatter and receive notifications when customers’ engagement is most profitable.
8. Analyzing The Old Data
Data is important, doesn’t matter even if it’s old. Your historic sales data is valuable and you can use it for improving your sales funnel and each stage.
You can identify different tactics that work best and use them for redefining as well approaching well for better conversion rates.
For this, you can gather information from past leads, sales, opportunities, transactions, etc, and add it to CRM software.
When you have all data restored in one place, you can easily use it for making strategies and plans that work best for creating a better customer or product segment.
You can use the historical data for sales forecasts and high-value targets. It helps in allocating the potential opportunities and better sales leads.
When your sales team has concentrations on the most promising and potential opportunities, this boosts the sales for the company.
Ways To Use Data For Winning More Customers
Due to technology growing in people’s lives and influencing their daily actions. Now it’s much easier to collect data regarding consumer habits, requirements, and needs.
Well, data and information is a treasure that is too important for marketing and to increase their customers.
Now the marketing is becoming more and more customers centric. The measurement of success is going to depend on how well the brand is connecting with its audience.
That’s why lots of business and marketing is choosing strategies on data-driven for understanding their customer base.
Here are some ways by which you can use data for winning more customers.
1. Setting Up Your Buyer Personas
When you use big data technology which allows collecting the information but better. Also, it’s helpful for creating personas and segmenting your customer base.
Also marketing personas are helpful for websites as it becomes 2 to 5 times more effective in better conversion.
It makes the strategy much more efficient in attracting better customers.
So when you set up your buyer personas, you can direct your messages and keep your marketing much more effective. Also, it’s more direct and people pay more attention if they know it’s for them.
2. Keep Your Landing Pages Better
Data-driven marketing is helpful for embedded or keeping strategic 78% of marketers. When you use the data and keep it for optimizing for the landing page.
This helps in attracting more customers. Landing pages help in reaching out to more customers through search terms related to your products and services.
When you use data for targeting the specific segment of your audience, they can easily find what they are looking for about your company.
Also, you can target the most relevant persona and get their attention too.
3. Give Them A Ideal Deal
Around 85% of consumers prefer having the coupons to visit the retails. Understanding this, you can use data for targeting the audience by offering what they want.
Also considering the past behavior of your customer, you can offer customized coupons or offer different offers.
Along with this, you can measure how effective it worked by tracking the coupon redemption rates in your stores and eCommerce.
4. Ramp Up The Email Campaigns
When you have buyer personas created and customer segmentation, you can use the data for making sure that your email campaigns are effective.
With this, you can recapture 10 to 20 % of customers who are not engaged right now. But you must work on email targeting and triggering the behavior of your customers.
Using the data for making the email campaign personalized also helps in capturing the attention.
You can create an email that fits their preferences. With this, you can get more customers coming back to your store and site.
5. Using Your Search Optimization
Internet users have access to any kind of information at their fingertips. When you have the knowledge that your potential customers might be searching for something like you online, you can target them by optimizing your search.
You can use the paid searches using the keywords your customers might be using.
Using paid search advertising makes your ads look native. And around 50% of users didn’t recognize whether they are getting paid ad searches or not.
6. Get Your Customers Back With Retargeting
Retargeting means reaching out to those people who have shown their internet in your brand previously. Either they visited your store, site, or clicked on certain items.
You can use retargeting to connect with the customers who are interested in what you are selling.
You can show the custom ads tailored according to their behavior on the site and browsing. It will keep them interested and also guide them back to visit your brand.
Also, most of the customers don’t feel negative about this practice either. More than 30% are extremely positive whereas the percentage of people who minded goes to 11%.
And rest 59% has neutral
Frequently Asked Questions ( FAQs)
With the right data, you can optimize your workflow and keep your performance better. You can monitor the employee performance, sales, and other important parts that lead you to gain more customers and growth in business.
You can use data for predicting what your customers are looking for and deliver before they ask. It’s also helpful to identify the problems and solve them. With data, you can make your services better and improve your approach.
By using data, you can make your customer services, approach and highlight the points that can solve their problems. Also, you can increase their satisfaction which leads to better loyalty towards the brand.