The customer is the 'face' and 'reason' for any business activity. No customer, no business- as simple as that. The relationship built with the customer does not end with the transaction, but it is the start of a new rapport. Marketing strategies
in the current business world revolve around 'satisfying' customers to have a continued loyal relationship, which is very imperative for the continuous growth of the business, not only in terms of profitability, but also enhancing credibility. However, marketing strategies revolve around accurate information of the customer so as to cater the customer better.
The following are the 5 ways a company can use the customer data so that they keep delighting the customers with their cool marketing campaigns and amazing offers. The purpose is to be remotely connected with the customer so that they can create a user experience. A customer never forgets and thus, never leaves.
1. Cater to Customer's future requirement –
Collating customer's data plays a very important role in the current market, with accurate information. Companies can predict, what customer is looking for and what will be required in the future.
In current business environment, with the advent of e-commerce and internet technologies, many companies track the cookies of online surfers, where the data is recorded of what the customer or prospective customer is looking for or searching; and accordingly suggest the customer for what they need.
For e.gan e-bookstore generally records and tracks the books searched and bought by customers, thus with proper information, e-bookstore is better placed to suggest a specific genre of books to the customer, who is more likely to purchase his favorite genre of books.
2. Personalizes and Builds relationship –
Business activity is also one form of relationship; most time, customer also looks for a consultant or a friend who is genuine in offering suggestions while he is making the purchase; and with this continued act, the customer becomes a loyal customer, who is a more valuable asset. Thus, having accurate information
is more necessary so as to suggest to him what he actually wants. Also, knowing the customer helps in addressing him and his difficulties more easily.
Providing necessary amendments possible in the service or the product as desired by the customer, at times before customer demands it. This is possible by having proper data of the customer, which also records likes and dislikes, including many other things.
For e.g a food joint that knew their customers well due to regular visits, will provide him/her a customized coffee or burger, which will be much delightful to the customer and it builds loyalty quotient. A friendly service or a homely feeling is what a customer looks for when he is a regular visitor to a particular place.
3. It makes the Market more effective through receptive communication–
Analyzing the data of the customer properly either through their e-history or purchase history helps to understand their exact needs and also surprise the clients with freebies to their liking on special occasions like birthday or anniversaries, or some specific discount on products that a customer desires. This has to be effectively communicated to the customer.
Emailing the information to the customer, on the products they are looking for or in the language which is comfortable are the soft points in marketing but plays very important role in comforting the customers.
4. Identifying customer issues and solving them at the right time
'Dig deep' is what companies should do if they are willing to stay in the business. The truth is, there are competitors who are just waiting to hit on the Achilles heel& grab your market. Your loss is their gain and the fact is a customer once gone is harder to get back. Simple yet intriguing efforts to retain& engage the customers will help a company to grow in a healthy way!
Studying and not just viewing the customer data will help the company to undertake the positive strategy. The data can be used for the betterment of the customer either in solving any problem arising at a moment or to make a point to never repeat the same past mistake. A customer expecting a good service and getting amazing one increases the brand value considerably.
5. Evolving marketing strategies
Whenever brand enters a new market or company is in the expansion format to cater to a larger audience, it is very indispensable to have an impeccable and pure customer's data at hand. Marketing strategies are data-driven and are formed accordingly to achieve a healthy result. Monitoring the customer's behavior, purchase pattern, offering good deals, bringing newness and solving their issues at the earliest possible time will always help companies to form an unbreakable bond with the customer?
Like in the case of KFC or McDonalds when they entered new markets, they customized the product as per the local taste and needs. With customization the product and brand become an instant hit; this is possible through the accurate customer data, which when properly analyzed can give valuable insights. For these two brands, it has always worked and proved to be successful.
Data mining is just like gold mining. The deeper you go, the better it gets! Treat each and every customer like he is the first and the last for you and you will never be out of the business. These customer data can be added in CRM system to improve the services, offer a personalized experience and built a symbiotic relationship with your customers.