How To Use Customer Analysis Tools To Keep Consumers Coming Back And Spending More
Big data is revolutionizing the way businesses interact with their customers.
As vast swaths of customer information become more readily available to virtually every firm, the key differentiator among them is who can best analyze that data. With the right customer analysis, a firm can understand their customers behavior in ways their competitors only dream of.
A strong understanding of your customers through customer data analytics can lead to changed processes, altered offerings, and adjusted operations that give customers what they want, when they want it.
Is there any better way to keep your customers coming back for more than improving the experience they have each time they interact with your firm? If you’re stuck looking for a way to improve your customer experience, the right customer data analysis tools might be the hidden key your business has been looking for
The Hidden Potential Of Your Data
As a company, you know that your data has hidden potential. In fact, chances are that you insights buried deep inside that are so valuable, you have a goldmine at your fingertips.
The problem is that like thousands of other businesses, you may not be quite sure how to harvest it and use that potential. All you need is the right help.
With the right team and tools, you can tap into the plethora of value lurking inside the information vaults of your firm. That information can help you build new customer segments, establish accurate profiles of your best customers, their habits, their desires, the reasons behind their loyalty, and even how their future behavior.
Using customer analytics tools, you can begin to gain insights into your customers behavior patterns that they might not even know themselves. These are insights that can be quickly turned into real dollars. We’ve seen it time and time again.
The problem you’re likely facing is that your data isn’t organized in a way where you can gain useful and relevant insights.
This is where TABS Analytics can fill in the gap.
A 360 Degree View Of Your Customers
In today’s world, customers are overwhelmed with choices, so context has become critically important. It’s all about reaching the right customers at exactly the right time. With big data, you can begin to understand the context of your customers behavior and and build customer personas.
Why Do You Need to Nail Down Customer Personas?
Personas are the characters that represent segments of your customer base. This is where you’ll find relevant information like demographics, income, what influences your base, and what motivates them. Of course, persona research goes far deeper and includes information like gender, religion, ethnicity, marital status, and employment status.
Now let’s take it one step further and include things like a person’s geographical location, overall lifestyle, political and social interests, past purchasing decisions, and even their personal goals.
Find Your Best Customers
We’ll keep refocusing on this question because without knowing which customers are your best, how can you properly focus your marketing efforts? Big data has the solutions—provided you know how to extract the right information. We can use big data to help you gather more information about who the customers are that are likely the most loyal. We’ll also help to demystify the process by calculating the following set of metrics.
- We’ll look at how much money your base spends on a typical purchase. We’ll look for the information that shows people also buy on value, and not solely on price.
- Our software will help you look closer at aggregate information and examine how much money was spent over a lifetime. This is a solid indicator of your company’s relationship with a customer.
- Now let’s take a closer look at what you’ve spent on acquiring a particular customer. If you’re spending more to keep the customer than they’re spending on purchases, it may be time to re-evaluate methods used for acquisition. At TABS, we like to take a deep dive into what it takes to keep customers loyal.
We’ll also look at what you’re doing to retain customer loyalty and to further build relationships. Customer analytics, as acquired through big data, can also help you examine closer why some customers appear to be happy, and others don’t.
Again! Here’s the reality. Your data, alone, may be in a format that makes it difficult to make sense of. This is a major reason why your company can benefit from the world class analytical reporting offered at TABS.
Put A Human Face On Your Data
Big data is opening up a lot of opportunities to gain new insights about your customers. The only thing is a lot of companies are failing to take advantage of potential insights because they don’t have access to effective analytical reporting.
At TABS, we stress that big data means nothing if you can’t put a human face on it. You must be able to connect that data to the human experience. Only then can you build buyer personas that will help drive successful digital strategies.
You’ll have to get firmly on board with big data. Its volume will only grow as handheld devices and others connected to the Internet continue to grow exponentially. By 2020, experts in the know predict the world will produce 163 zettabytes of data.
This is more than 10 times what’s currently created. We’re here to help you better understand the information that can reveal where your company is and where it’s likely headed. It’s the companies and individuals that learn to manage their information that will be the ones who place themselves in a position to win big.