How to unearth customer insights that will boost business performance with big data analytics
In a world inundated with the sheer volume of data generated every day, the intelligence we extract from this data matters more. Organizations store data for regular business activities but often miss out on the opportunity to win more sales. They are incredibly negligent with “dark data”, namely data that is left unanalyzed or untouched. The fact is, significant scalability, productivity, and efficiency can be achieved if businesses tap into the “dark datasets.”
It is every organization’s responsibility to ensure these valuable insights that can significantly promote the business and upskill existing workers should not go to waste. By not tapping into the data that is waiting to be analyzed, business owners and individuals create a barrier to achieving growth. This self-inflicted hindrance is usually the reason they lag behind their competitors.
If you are a business manager who yearns to outsmart your peers in the business world, keep reading.
Here, we highlight three ways your organization can tap into the gold mine of information to drive sales:
1. Email behavioural data helps unlock your customer’s love (or hate) relationship with your products
This data mining technique analyzes the click behavior within your websites and your emails to ensure that there exists an exact targeting method towards each customer. By tracking landing pages and links within emails, you can achieve a more favorable outcome, where your customer engages better with your content and your products.
2. Personal big data analytics, and gamification engages customers to increase chances of conversion
The use of provided personal data from both existing customers and prospects can significantly boost the relevance for consumers of your marketing material. By profiling an individual and understanding their particular interests, you can substantially increase engagement in webinars or blog posts catered towards his or her interests. Gamification techniques, such as using hashtag competitions or awarding customers points, can encourage users to receive and accept personalized data.
The higher the interaction they have with your digital communications channels, the higher the chance they will buy from you.
Based on the data derived from a user’s interactions, you can further segment users and develop better marketing messages to convert them into paying customers.
3. Personalized data intelligence drives conversion better with advanced targeting helps win more sales
Advanced data mining techniques can further personalize user experiences based on a user’s engagement rate. Profile-driven marketing targets and optimized ads delivery can drive your user acquisition and conversion rate. Understanding how each customer behaves and interacts with your brand can significantly boost business performance and discover the hidden goldmine attached to customer data.
To conclude, the more you know about your customers, the more you can cater to their individual needs and desires. As a company, you can significantly drive sales by being more relevant and persuasive using big data analytics. As a business manager, there are enormous customer engagement capabilities, that can create higher sales projections.
If these techniques seem hard to attain or you don’t know where to start, The Center of Applied Data Science has specific solutions for business individuals interested in making better and informed business decisions.
Talk to us on how you can apply big data analytics to reshape your business model and operations.
We help organizations develop data-driven strategy to implement data-driven initiatives that create and capture more business value in the long run.