Customer data analytics are more important today than ever before. Data analytics can make all the difference between a successful business and an unsuccessful one. But how, exactly do these work?

feedback is important
Know the secrets to customer data analytics and transform your strategies!

Here are 10 secrets you must know for a greater insight into customer data analytics:

1. Know the reason why: Identify the KPIs

  • It is important to distinguish metrics in customer analytics from the Key Performance Indicators (KPIs).
  • Ask yourself what information it is that you seek instead of blindly tracking all numbers.

2. Feedback is the key!

  • Feedback is essential to the growth of any business. Customer analytics need to be examined along with consumer feedback for a complete picture.
  • Customer feedback, exit surveys, and NPS surveys are all of prime importance and yield valuable information.

3. Understanding customer interests

  • To efficiently target your customers, it is imperative to have a profound understanding and knowledge of the specific interests of the customers.
  • Once you know customer interests, you can easily direct your marketing strategies in the right direction.
customer interest
Look out for what interests your customers and engage them much more efficiently!

4. Sales Force Automation

  • Using specialized software such as Sales Force Automation that automatically tracks customer interactions is a great way to excel.
  • This software, also called Customer Relationship Management (CRM) software, is of crucial importance in tracking performance and other metrics.

5. Know your customer’s customer!

  • It is not sufficient to just know about your customer itself. What’s even more important is to understand your clients’ customer!
  • Every customer of a business, in turn, caters to another customer of his, and understanding the needs of this latter individual can pave the way to a great marketing strategy.

6. Know the traffic source

  • It is extremely important to find out from which source is the traffic to your business arriving.
  • Only then will you be able to direct your marketing strategies to get more customers to find you.

7. Check out customer engagement

  • The key parameter to look out for in customer data analytics is the customer engagement.
  • It is important to consider how customers are engaging with your products and services.

8. Look at the trends over time

  • It is not only important to pay attention to the trends in customer data analytics but what is crucial is to study the variation of the trends over time.
  • How do the trends vary with seasons?
  • Is the popularity of your product or service increasing or decreasing over time and with seasons?
latest trends
Don’t just look at the trends in the data. See how the trends vary with time

9. Don’t ignore consumer reviews

  • Most brands completely ignore the precious reviews of their customers.
  • In this world of cut-throat competition, it is important to analyze the review data to understand the viewpoint of the customers and the things that pain them the most.

10. Existing vs New Customers

  • Should you focus more on acquiring new customers for your brand or instead work on the existing customer pool?
  • Research has revealed that a business attains 80% of its profits from about 20% of its existing customers. There- you have your answer.
  • Focus on your existing customers to ensure they maintain loyalty to your brand!

Wrap Up

The consumer is king. It is more important than ever before to understand the interests and behavior of your customer if you are to excel. Customer analytics help you find out the key metrics, the KPIs, but what is most important is to first ask which metrics need to be set as KPIs instead of blindly following numbers.

Trends matter but trends varying with time matter even more. It is always better to build a healthy relationship with your existing loyal customer base instead of just focusing on building newer relationships.