The main goal of data collection is to create the right strategy to increase sales faster and easier.
Also, the collection and management of customer data includes:
better understanding of the customer journey,
the ability to personalize communication with the audience,
increasing customer loyalty,
increase sales.
Improving customer understanding
Customer insights can give you a clearer picture of the customer malaysia phone number library experience, their journey from browsing to buying. This can lead you to decisions that can turn a rare customer into a regular one.
For example, if you find that customers are learning about new products through an email newsletter and ultimately making purchases in your store, you can feature products from the same newsletter front and center in your store to drive traffic.
Also, if you notice that customers are abandoning their shopping cart in an online store after learning the shipping cost, you can decide to introduce free pickup from the store or free shipping from a certain order amount.
Effective personalization
The data you receive can help you better understand your customers’ habits and preferences. With this knowledge, you can create more effective emails by personalizing them and sending the right offers to customers at the right time.
An example of filters by which you can segment your database
A McKinsey & Company study shows that shoppers are more likely to respond to promotional offers that are tailored to their preferences, needs, and interests. According to the same study, personalization can increase conversion rates by up to 15%, boost sales by 2%, and reduce marketing costs by up to 20%.
For example, if a customer has viewed a specific product on your site several times, added it to their cart, but did not buy it because of the price, you can send them an exclusive offer with a 10% discount on products in that category to make sure they make a purchase.
Increasing customer loyalty
Repeat customers are important because they will choose your products for a long time. A Harvard Business Review study says that increasing customer loyalty by just 5% can increase sales by 95%.
The more you know about your customers, the more likely your offers will be relevant to them – which can increase loyalty and return . For example, as part of a loyalty program , you can offer exclusive discounts to stimulate sales and increase purchase frequency.
Increase in income
In the end, all the benefits lead to increased revenue. Knowing your customers gives you the ability to offer them what they want and when they want it.
If, for example, you find that customers typically buy a specific product category, you can cross-sell these products online and in-store. You can group these products together in a separate section in your online store, or place them next to each other in your offline store display.