Skip to main content

Enhance your business with customers behavior data


Today business using big data & machine learning to learn about customers behavior. With customer behavior analytics, business is able to make data-driven decisions because they have an individual-level view of their customers. When business know exactly what customers want, what they do and look for, and how they may act in the future, they are in a better position to create personalized customer experiences and increase customer loyalty. McKinsey found that 50% of companies making use of customer behavior analytics are likely to have sales significantly above their competitors, 6.5 times more likely to retain customers, and 7.4 times more likely to outperform competitors in making sales to existing customers. Overall, organizations that correctly utilize customer behavior analytics are 19 times more likely to achieve above average profitability.



If you want to enhance your business performance and make improvements in your marketing campaigns, then, here are some practical points to mine valuable data:

Buying History: Today almost every business is capable of generating useful data on the basis of customer previous activity.

Abandoned Products/ Services: Customers doesn’t interact with your product or services again & again.  Below are some reasons why they are interacting with your products.
·         Product exceeds budget and customer waiting for price to fall.
·         Maybe they look for other similar product.
·         They are interest but take some time to finalize.

You keep an eye on the customer activity:
·         You may offer the best discount so they can take decision to finalize.
·         Notifying customer about awaiting product.

Referral Traffic: To amplify growth and push sales numbers, ecommerce stores invest in affiliate marketing. The traffic that arrives from such affiliate resources also brings diverse data which can be mined with the help of Google Analytics or other ecommerce Analytics tools.

Page Insights: Some website pages are more critical than others from sales perspective, and it’s important to know how they are performing individually. Again, tools like Google Analytics and Adobe can help you unearth numbers that will give clear understanding of:

·         Traffic Sources
·         Page performance
·         Bounce Rate

User Profiling:  More you know about your audience, better experience you can deliver in the long run. This is the reason why ecommerce stores highly value user data and take steps to gather as much as they can. Below data figures influences product expansion as well as marketing approach:

·         Age
·         Gender
·         Income Group

Site Search: Search is a popular channel of product discovery on ecommerce platforms. Search queries made by registered users can tell:

·         How many times search results in purchases?
·         What they are looking for?
·         What type of keywords they use?

Physical Purchase History: Besides being active online, some brands also have offline presence. Companies that realize the importance of user data collect mobile number, email, birthday, and other details to build a database that can be used to tailor experience and improve customer service.

Marketing Campaign Data: Marketing campaign data plays an important role in that. You can note some points below:

·         Clicks
·         Session Length
·         Bounce rate
·         Conversions

Research Insights: You can also do some research on market to know how market performs as per the customer.
Reviews: Customer reviews on your product & service also helpful to know what customers want.

Challenges Business’s face to use customer behavior data

Unfortunately, companies struggle to optimize customer behavior analytics when they use customer experience management solutions that do not use all customer data sources, that keep data in silos, that do not provide drilled-down customer insights, and that do not fully integrate disparate customer data types. Companies also struggle to benefit from business analytics solutions when they have too much data, when they lack real-time customer data to accurately map out customer journeys, when they cannot collect and store massive amounts of data, when they fail to implement the right technology, and when they fail to protect customer data. We provide One stop solution from data collection to strategy making.

Labels:

Comments

Post a Comment

Popular posts from this blog

Achieve the goal with automated marketing

As a business, you know how hard it is to keep up with customers today. People have become research obsessed for most purchases and expect brands to assist them in a personally relevant way at every stage of their purchase journey.   Machine learning is one automation tool that can boost your efforts to meet people’s high expectations. Machine learning can help to create automated marketing campaigns, at scale, that place the right message in front of the right customer at the right time at the right price, delighting people and delivering the business results marketers want. We talked  with top brands decision makers who have adopted machine learning to improve their marketing, we’ve found that the top-performing brands are applying these below rules and asking themselves these questions to achieve goal with automated marketing: Optimize your campaigns for growth : Machine learning is only as good as what you ask it to optimize. Top perfor...
Post a Comment
Read more

Facebook reported planning to launch smart video calling on your TV and anywhere in your home

Facebook could be working on a new streaming TV device that could set out to rival the likes of Apple TV and Fire TV. A new report suggests that an upcoming device will be part of the company’s Portal lineup. It’s said to come equipped with a camera for video-calling and far-field microphones to detect audio. Variety  reported  that Facebook is also in talks with streaming services such as Disney, Netflix and other media companies to develop exclusive content on the platform. The device will run on a modified version of its mobile app rather than running on Android TV. The device is meant to be placed on the top of the TV which means its design could be in the form of an attachment to the top edge. Apart from the camera and microphones, the device may pack a speaker system as well. Since video calling is going to be a focus with the device, it would be preferable not to rely on the built-in speakers of the TV or external ones if it wants good quality echo ...
Post a Comment
Read more