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Thursday, June 1, 2017 11:27 PM

10 Ways To Make The Most of Your Customers Data

10 Ways To Make The Most of Your Customers Data

1. Tell the Customer Story

Gather stories about your customers experience. Why do they use your product or service? What value do you bring them? Gather that feedback and create simple, effective stories centered around how you bring your customers value. You’ll often find that the story of “why” a customer uses your product or service will resonate with others. That usually results in more customers.

2. Hone in on What Your Clients Really Want

Data for any business is invaluable. Small Businesses should continuously use feedback to hone in on what their clients and vendor partners want most. If you find that a client doesn’t care about a costly component of your product or service, that’s money to be used elsewhere. If you learn that a certain aspect has been well-received, that’s an opportunity to tailor your product or service even more.

3. Create a Referral Program

One effective way to use data from existing customers is to offer them incentives to refer new business. Companies like ours (Tech Lift) use a simple “Give $100, Get $100” referral program (through smallbizz) for existing customers to refer new customers. This idea is powerful, as your existing customers would love to save money on future business with you, while also referring friends and family as new customers.

4. Better Define Your Ideal Clients

When small businesses understand the wants and needs of their ideal customers, they are able to develop targeted marketing campaigns that speak directly to them. Use the data you collect to better understand your ideal buying persona. How old are the people who are buying from you? What is their socioeconomic status? What are their professions? Develop campaigns around these findings.

5. Focus On Effective, Efficient Growth

Use analytics and data to determine where you should invest your time. For instance, if most of your converting customers are coming from Instagram, you should focus your efforts there even further to continue to improve. In addition, don’t simply look at the current data. Look at your business and industry trends to see where to invest your time and money.

6. Turn Data Points Into Personal Connections

Small businesses need to compete with larger ones by having a personal connection with the customer. Big corporations can spend millions on analyzing big data but what they can not do is turn these data points into fans of and mavens for their company. Know who your customers are with data and then go above and beyond to befriend them and make their connection with your brand a personal one.

7. Create Custom Audiences

The two most powerful and cost-effective forms of digital marketing are custom audiences and re-targeting. Small businesses would be best served by uploading their customer lists to Facebook and Google to create audience campaigns. An audience campaign will allow the small business to focus limited resources on getting existing customers to buy more, and re-targeting will drive conversions.

8. Create Buying Funnels

There’s so much that can be done with data. But for companies with limited resources, the best approach is to use data to increase revenue. To do so, companies should use the data they already have to create a strong buying funnel, which can then be used to market to those customers more effectively using email marketing, re-targeting and content creation.

9. Determine How to Differentiate Yourself

A small business can fill niche needs that sometimes a big company cannot. The data they receive can provide insights into the competition not meeting those needs, so the small company can use that as the basis to develop exactly what their audience says it’s looking for. This intelligence gathered through the data can provide a significant competitive advantage.

10. Collect Customer Contact Information

A small business grows by building its customer base. The best way to do this is to acquire customer contact information and keep up consistent, relevant communication. Give the customer a reason for needing their contact information, such as sending an email or a text when their appointment is ready. Add this information (with their permission) into your monthly newsletter list.

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