We live in a world where information is traded on a daily basis. There are big companies that store several exabytes of data in their server. According to some sources, the Internet giant Google has about 10 to 15 exabyte of data and it doesn’t even have the largest data hoard in the world. Google doesn’t just use this data to power search, but also to target ads.
Amazon, on the other hand, has the best collection of buyer data possible. In fact, that data is so valuable that Google actively tried to acquire it. But why is data so important? How would it benefit a small business owner? Consider the following points.
Understanding the Prospective Customer’s Journey
If you know where your customers are coming from, you’ll be able to divert more of your attention and your resources to that place. The internal data from your website will give you information about your customer’s journey. You can use this information to ensure that you target your ads in the right direction.
With the help of technology and several analytics tools, you have access to unprecedented information about just how your customers reach you. That would allow you to plan your marketing strategy accordingly. For example, if most of your traffic is coming in from your Facebook CPC campaign, you know where you need to invest.
Understanding How to Communicate With your Prospects
Data can help you understand which mode of communication would be acceptable for your prospects. For example, your potential customers might prefer to communicate on Twitter or Facebook. There are certain times in the day when prospects might be more accessible.
For example, if your Facebook ads target people during the evenings and early mornings, you’ll find more success. You can also understand how to communicate with your customers. With the help of data, you’ll be able to see what kind of content your prospects are interested in.
You’ll be able to track their movement over their website and that would allow you to recognize the most popular content and web pages on your site. That information will help you determine what kind of content you need to publish to keep your customers and prospects engaged.
Find Your Best Customers
With the help of accurate data, you can understand who your best customers are and where they come from. The data will tell you when a particular customer made a purchase, how many times they made a purchase, and how much money they spent. All of this information would help you understand who your best customers are. You can then check which marketing campaign these customers responded to.
For example, if your most profitable customers came to your through organic search, you would need to focus more on SEO. But that’s not the only advantage of this data. You can prioritize your best customers and focus your marketing efforts on them. That would ensure that your brand message is reaching customers who have converted and would increase your revenue