Use Analytics I Have more Insights about your Business & Customers I Grow your Business …
Gather more & more information relating to your area of business from a variety of sources like social networks, text & other documents over the internet, internet search, newspapers, books, having a dialogue with customers, shoppers, dealers etc.
Arrange this information in an orderly manner & do an analysis of this information. After analyzing this information, you will get findings from your analysis, which in turn will give more insight about your business & customers, which will help you to maximize & optimize your business opportunities. These insights will help you to stay on top of your competitors, customers & at marketplace.
How analytics can help you in segmentation & targeting:
With the help of analytics, you can create a value, a cross-section between product & customer experience. Unless you have right kind knowledge about customer, you cannot provide full value.
Analytics helps you to understand different kinds of details, different segments of customers, demographics, customer purchase behavior, sentiments, attitudes etc so that you can offer them right products, right offers at right time.
Analytics enables you to target a single customer, ‘marketing for one’ instead of aiming in the dark, which helps to develop a loyal customer base.
Create a customer database & see which customer is at what stage of product life-cycle phase & offer exactly that product or services to them.
A cost-effective way of growing your business:
Using analytics is a cost-effective way of growing your business compared to running an expensive marketing & advertising campaigns. Your efforts get more focused thereby helping you to close more sales & creating more customer satisfaction.
So using analytics is an important part of growing your business in an organic way. The insights, which you got by using analytics will add value at every step of your decision-making & will help to implement strategies based on careful analysis of probable outcomes.