You’ve heard about data analytics, know they’re probably important, but haven’t had the time to look into them. Are data analytics worth the time and the investment? Let’s look at three things analytics can tell you about your customer.
#1 Your Customer’s Profile
When the data is compiled and sorted, you’ll find a fascinating amount of information on your customers. The analysis will reveal the age range, gender, marital status, income, address, job status and many other important factors about your customers. Data analytics comb through hundreds of data points, revealing who your customers are, their needs, and what’s important to them. This information will give you a clear target audience.
#2 Your Customer’s Behaviors and Interests
Data analytics can reveal what your customers are interested in such as sports teams, hobbies, music, self-care, home renovations, etc. A good analysis can reveal where your customers invest their money, what items they purchase, and the frequency with which they shop at your stores or use your services. How far will they go to shop at your store? What time of day or of the year are they purchasing? Are they online shoppers, in person shoppers, or a mixture of both? These factors allow you to see what’s important to your customers and how they behave. Analysis can offer vital insights into how you should design your marketing and what channels you should use to advertise.
#3 Your Customer’s Uniqueness
Your customers will look differently from those of competitors or other businesses, and it’s important to understand why your customers are unique. It might be their credit score, distance from your store, number of kids or pets, season of life, etc. But, when you understand why your customer is special, you can focus on marketing to the right people and stop wasting advertising dollars on the people who will never be good customers.
In summary, if you want to know who your target audience is, how to reach them, and what makes your customers unique, allowing you to save money and create focused marketing campaigns, data analytics is worth the investment.