5 Useful Ways to Extract Value from Customer Data

Often, it is not the gathering of customer data that is the problem. Digital marketing campaigns make sure that you have plenty of it. The problem is not knowing how to extract actionable insights from it.

Let us see some of the ways you can sift through the plentiful data and extract the useful information -

Use automation and data analysis tools

With the amount of big data generated on daily basis, it is humanly impossible to make sense of and extricate just the right information. Automated analysis tools will help you handle large volumes of data and pull out only the relevant insights. Your employees will have more time to focus their efforts on putting these insights into action.

Make use of historical data

Many marketers often mislabel historical data as outdated. However, data from five to ten years ago can give you plenty of useful information. It will help you track and analyze the buying pattern of your customers, and even a particular timeframe in which your sales increase or decrease.

Study your churn rate

Doing so will help you pinpoint a particular action, or lack thereof, that led your customers to take their business to your competitors. You can even identify the time period for which your customers remain loyal, before moving on. Once you understand why they are leaving, you can take the appropriate actions to increase their loyalty and lifetime value.

Take advantage of social media platforms

Social media is the place where your customers freely communicate about their needs, expectations and experiences. Keep an eye on these social media interactions to understand exactly what they are looking for and provide it at the right time.

Make sure data is easily accessible

The data should be available to every concerned employee, and not only the marketing teams. The data should freely flow between marketing and customer-facing teams, like the sales team and customer support team. This will help improve their interactions with the customers, improving their overall experience.

TSL Consulting Pvt Ltd is an integrated marketing company based in India. We offer customized outbound marketing, inbound marketing, digital marketing and data profiling services to a wide spectrum of small and mid-sized organizations.