Data analytics. Sounds like something that just went over my head, you know? Truth is, learning how to understand and use data analytics to grow your business is an incredibly valuable asset to have at your disposal.
I think we can all agree that for every business owner, marketer, and advertiser, the end game is to find new customers who will remain loyal to their brand—sound about right? Well, by mastering data analytics, you’ll be able to predict customer behavior, make better marketing decisions, and calculate the ROI for your efforts. It’s awesome.
Let’s dive right in and explore data analytics and how the data will help you grow your biz, no matter what your niche is!
What Is Data Analytics?
At this point, you may be asking yourself what does data analytics actually is. To put it simply, it’s the process of examining different sets of data to draw conclusions and using that information to make decisions.
When you examine raw data, you’re able to discover valuable insights and apply them to your own business. Think of it as a secret code, giving you access to better understand your audience and what they want.
Business owners, along with marketers and advertisers, use data analysis to do impactful things like:
- Understand customer behavior
- Evaluate advertising campaigns
- Personalize marketing strategies
- Make better business decisions
Using data analytics will help you boost your business and become more profitable. After all, we all want to avoid making major mistakes and only put money into profitable plans.
How To Use Data Analytics To Grow Your Business
Okay, so now you know that understanding how to use data analytics to grow your business can benefit you in several ways, but what are the specific benefits?
Here are five specific ways to grow your business by incorporating data analytics into your marketing! Let’s get right to it.
1. Understand Your Customers and Build Buyer Personas
With data analytics, you get to examine customer information, which lets you segment your customers and create different personas. Then, you can use those marketing personas to attract more customers who are similar and improve your conversion rate—score!
Use data about your customers’ habits and characteristics to develop highly targeted marketing opportunities.. The more targeted your efforts are, the better!
Personalizing your messaging and marketing helps make your customers believe in your business and pay more attention. Did you hear that? Hold up, let me talk louder for the people in the back. Personalization helps make your customers BELIEVE IN YOUR BUSINESS AND PAY MORE ATTENTION. No one wants to feel like they aren’t being seen or spoken to, so make sure you prioritize who your customer is and what they need!
2. Focus On Highly Targeted Leads to Reach Your Ideal Audience
When your marketing is targeted, you’re able to connect with your ideal audience on a deeper level.
No more throwing spaghetti at the wall to see what sticks—instead of trying to connect with everyone, data analytics helps you narrow your focus to highly targeted leads based on current customer acquisition, patterns, and buying habits.
So, how do you actually do this in your own business? A great place to start is with Facebook custom audiences. Facebook uses data-driven tools to let businesses target users that look like their current customers. You’ll be able to discover high-quality leads and increase your conversion rates.
With data-driven marketing, you’re also able to figure out where your leads are coming from by asking the right questions, like:
- What lead-generating platforms are the most effective?
- Which channel is performing the best?
- What messaging prompts the desired user action?
96% of visitors who come to your website aren’t ready to buy (yet). Nurturing your website visitors and finding your ideal audience right from the start will help make your visitors ready to buy sooner.
3. Maximize Your Retargeting Efforts
Have you ever tried retargeting? If not, you absolutely need to try this strategy!
Retargeting is basically reaching out to people who have previously taken some action related to your business, like: making a purchase, searching on your website, or interacting with an ad or social post. Sometimes called remarketing, retargeting allows you to continually reconnect with people who have shown interest in your business, products, or services.
With retargeting, you’ll be able to show customers specific, customized ads tailored to their previous behaviors on your website. Your ad will be shown to these potential customers on websites they frequently visit.
Retargeting is like connecting with a friend. To build a friendship, one text or a small-talk-filled dinner won’t do the trick. Instead, you have to continually show up and show that you care! The same thing applies in remarketing.
4. Boost Your Email Campaigns
Once you understand your customer segmentation and personas, you can use data analytics to create more effective email campaigns. This might sound too good to be true, but trust us, it really does work!
In fact, marketers who use segmented campaigns have seen as much as a 760% increase in their revenue. Yes, you read that right.
So, what should you do? Create specific emails triggered by (and targeted toward) certain behaviors on your website or advertising campaigns. This helps you capture customer leads and seal the deal on customers who are hovering on the fence.
When you use your customer data, you’re able to create personalized email campaigns that fit each person’s unique preferences. This means that they’ll be much more likely to make a purchase. Yes, please.
5. Increase Customer Engagement By Creating a Great Experience
You’ve probably clicked onto a website before and immediately closed the tab because of how clunky or outdated it looked. Customers want a seamless website user experience that feels relevant, useful, and personalized.
In fact, 86% of buyers are willing to pay more for a great customer experience. You can learn how to use data analytics to grow your business by creating that amazing enhanced customer experience. Essentially, extinguish the annoying sources of friction for passive consumers such as slow loading pages, on-screen distractions, or unnecessary logins to convert them into happy customers, who want to purchase your products and services.
Since data is omnichannel—it can be used on social, advertising, and email platforms—you can create a consistent pattern of great user experiences and customer engagement. The more consistent you are in creating an awesome experience, the more your leads and customers will grow to love your biz.
By tailoring your marketing campaigns and social strategy to meet specific customer needs, you’ll reach more customers while achieving better results. If you’re on the search for a targeted lead list, give Exact Data a call today at 877.750.6636 and we’ll assist you in reaching your ideal audience without the stress!