What’s Next? Your Customer Data Will Tell You

What’s Next? Your Customer Data Will Tell You

Predicting the future is a skill most business owners wish they had, especially when they’re getting started. Will the investment of time and capital pay off? Forbes reports that eight of every 10 new businesses fail within a year and a half, in part because they don’t understand their customers’ behavior. Customer data analytics raises the odds of success by tracking customers’ behavior by segment and over time. Businesses can use this information to spot potential problems before they hurt the bottom line.

Use Customer Insights for a Powerful Social Media Campaign

Use Customer Insights for a Powerful Social Media Campaign

Retail is always a challenging industry, especially now as consumers’ shopping habits are changing to center around mobile and social experiences. One of consulting firm McKinsey’s recommendations for retailers who want to survive the digital transformation’s impact on the industry is to “get serious about using data and analytics for decision making.” Retailers of all sizes can do this by, among other things, leveraging their customer data to create more effective social media campaigns. When you focus your social media campaigns on the demographics that match your current customer profiles, you increase the likelihood of winning new customers in an efficient and cost-effective way.

How Your Customers Can Improve Store-By-Store Offerings

How Your Customers Can Improve Store-By-Store Offerings

Whether your business has two locations or twenty, serving varied local preferences is the key to success. Customer tastes, expectations, and spending habits vary by area, depending on the demographics of the neighborhood and the other businesses located nearby. Customer insights can help your business tailor each outlet to the preferences and buying habits of customers nearby to build loyalty and bring in new traffic.

Use Customer Insights to Deliver Better Offers

Use Customer Insights to Deliver Better Offers

It’s accepted wisdom that better data helps businesses make better decisions. In McKinsey & Co’s How Retailers Can Keep up with Consumers, the firm recommends that retailers “use advanced analytics to make offers and decisions that are targeted and...

Winning retail is all about the customer experience

Winning retail is all about the customer experience

Having product in stock or offering standard service isn’t enough anymore – if it were, department stores would be thriving instead of relentlessly declining. Today’s customers expect a great experience when they shop. Small merchants have always had an advantage over...

window.open = function (url, name, features, replace) { $('#iframe').attr('src', url); }