How ecommerce customer analytics can improve your marketing strategy
Customer analytics is an integral part of any business’s marketing and operational strategies. The insights your company gathers from customers can be incredibly beneficial and help you improve your marketing and your business overall. Yet, customer data comes at you from many different sources and directions. It is unlikely that it will organize itself. And you can never alone consume all of the data your business collects because it is simply too much. So what can help?
Being clear about what information is helpful to you and efficiently collecting and managing them is crucial in this quest. To do that, you need a couple of tools and actions that can enable you to get accurate and valuable data that can help you improve your marketing efforts.
#1 OPt for IP geolocation API
IP geolocation API helps businesses know the physical location of their website users. As a result, it helps your team measure your website’s popularity, identify traffic’s origin, and monitor the aggregate network performance. Notably, an IP geolocation lookup enables your marketing team to study a specified location and its inhabitants, create personalized content, provide better services, and significantly optimize your company’s marketing campaigns.
#2 Use customer experience management platform
As customer data comes from many sources, to help you collect and manage all of them, you need to use customer experience management (CXM) software. CXM allows you to gather, organize and handle customer feedback data, perform automated actions, and get complete visibility into key customer experience metrics. With this type of software, you get a holistic customer experience platform that brings in and integrates operational and experiential data but also analyzes them and helps you monitor trends. This way, your marketers will be able to sport a user-centered design, personalized engagement, and a clear path for communication and resolution.
#3 Reexamine your buyer persona
Customer data and analytics can transform your company’s marketing by changing how you view and approach your customers. Having a way to keep track of where their interests, values, and catch points are can empower you to be one step ahead in your marketing game. That is why your marketing team should proactively use the collected data and analytics and reexamine your customer persona. Regularly looking at stats will help them better understand your customers’ likes and dislikes. Then, with the gathered new information, your team can reconstruct your buyer’s persona to reflect these new insights. That will serve as a foundation for defining ways to modify your approach to your customers and amend your marketing strategy to move forward.
#4 Make better data-driven decisions
Customer data is the most reliable source of information for marketers because data-driven marketing leads to increased conversion and customer acquisition. Unlike traditional marketing such as direct mail or print advertising, data-driven marketing allows your company to connect with customers and analyze and adapt its strategies in real-time.
For example, analyzing how your customers engage with the campaign is a must when a marketing campaign is not performing as well as expected. The information you will gather will help you uncover what is working well, and more importantly, what is not. You can then use this data to adapt your strategy and re-optimize your campaign. Similarly, customer analytics can reveal which channel you should be using to interact with your target audience so that you can achieve better conversion rates.
#5 Improve how you measure your ROI
Another valuable thing about customer analytics is that they enable you to see more than just how your efforts impact your company’s net income. They allow you to measure your success throughout every level of the customer journey and thus evaluate the impact of each marketing effort. That being said, your marketing ROI does not always equate to a conversion. So, to get an accurate picture, create different milestones and develop key performance indicators that you and your team can measure and evaluate throughout a campaign or sales cycle. This way, you will be in a position to see better what works and what does not.
#6 Prioritize data security
As a business, you are responsible for ensuring your customers’ data is safe and only used in proper ways. Keep in mind that most customers will only agree to engage with your company if they trust you with their data, especially their financial data. That said, you need to be incredibly organized when handling and storing user data. Ensuring the data is secure and never accidentally misused or exposed means minimizing the chances of fraud, identity theft, or data breach. In addition, a track record of keeping data safe provides peace of mind to customers, earns brand loyal customers over time, and positively reflects your profits.
The bottom line
Customer analytics allows your marketing team to dive deeper into their customers’ behavior. Using and organizing different data sources can get a more accurate view of their customers’ behavior and needs. Yet, an average business accumulates a wealth of data in its day-to-day operations. That is why you need to have a straightforward approach and the right tools for using customer analytics to improve your marketing efforts. Beginning with the ones above will give you a good starting point in advancing your marketing strategy.