How much do you pay attention to customer data? You’ll be surprised to find out that your business may depend on this to achieve or maintain success, no matter which industry you’re in. Yes, this figure is relevant even for small-to-medium business owners, as well.
Collecting complete and accurate customer information will not only help you enhance your marketing campaigns but improve the customer experience, as well. A lot hinges on this for the continued rise of your business, as data-driven companies are reportedly 23 times more likely to attract new customer and are 19 times more likely to get profit as a result.
Customer data also allows you to personalize and target high-quality leads, so your company can close more deals and enjoy higher returns.
There are many ways to acquire customer information, such surveys, account sign-up forms, contests and promotions, and the like. The challenge here is sorting out through these data points and finding out which of the different kinds of customer data can benefit your efforts.
Why is Customer Data So Important?
Data can fuel businesses in their quest to provide highly targeted ads, which is great for your marketing campaigns. With this, you can also give better product recommendations, devise loyalty programs, improve customer retention rates, and communicate to your customers better.
As a small or medium business owner, one of the things you are perhaps very aware of is how hypercompetitive it can get when it comes to doing any of the things mentioned.
Ready to learn more? In the infographic below, you’ll learn all about the four types of customer data, where you can get them, and how you can use them to your advantage when building your campaigns from the ground up. In the original article, you can even get tips on the best ways to collect customer data.