How to Use Data Strategically for Your Business

Data makes the world go round these days. Successful e-commerce businesses know how to use their business data strategically to improve their products and services. So how can you harness your data power and use this in a meaningful and profitable way too?

In a previous data blog, we explained why you need to be collecting the right data for your business. This time, we look at how you can us this to propel your business forward.

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“we look at how you can us this to propel your business forward"

Good data = better business decisions

When you’re collecting the right data, you can use this to inform your decisions and refine your online marketing campaigns, so you can improve the way you operate. When you channel your business data into the right systems, you could also discover opportunities for new revenue streams. But how do you do this and what do you use?

Say hello to our partner, Klaviyo

One of the best ways to use your data is to enhance your customer experience.

 

Klaviyo is a system that integrates your customer data, so you can build measurable experiences across your online channels. Using artificial intelligence and machine learning, this system routes data from various sources to build automated campaigns, coding targeted emails and creating relevant social media advertising.

Building customer relationships – this is the most important reason, which is why it’s at the top!

Data insights using artificial intelligence

Here are some reasons why we love using Klaviyo for our clients:

  1. Build customer relationships – this is the most important reason, which is why it’s at the top! But imagine if a system could learn as it went along? Ta dah! Yep, Klaviyo harnesses data science to learn all about your customers, so you don’t have to spend months trying to figure this out.
  2. Segment your customers – your data should always be split into segments and lists, so you can engage with specific customer groups. Klaviyo segments your data, so you can send personal product recommendations to certain customer segments.
  3. Create customer experiences – how do you make people remember your products? You need to remind them by creating relevant online experiences that resonate with them. Think about your touchpoints. Klaviyo connects these all together to create consistent online campaigns, so you don’t have to spend hours building content.
  4. Target customer groups – STOP sending out BIG batches of generic emails! Who’s got time to read them? Save these for one-off announcements. Instead, send on-brand, email marketing to customers based on their data patterns – for example, buying or browsing behaviours. Did we mention Klaviyo does this?
  5. Predict customer purchases – your aim should be to retain customers for the long term. Klaviyo predicts when your customers are most likely to buy from you again, so you can reach them at the right time with relevant online marketing. Pretty good, eh?

So, we’re big fans of Klaviyo. But please take the points above on board because systems like this can help you save time and money by growing your business faster. Your data collection strategy is important, but the way you use your data is crucial. Once you’ve tapped into your data goldmine, you can use customer insights to power your business success.

 

Sources: https://www.klaviyo.com/ https://bernardmarr.com/how-to-use-data-strategically-in-business-3-essential-ways/

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