How important are customers for a company

The entrepreneur's handbook

Is constantly being from Data talked. Sometimes in a negative sense and a raised index finger for the purpose of data protection, sometimes in a positive sense, because data is definitely a currency of its own for a company.

Not because they can sell them. No, because they help to keep the company on the right track, put it in the fast lane and retain customers.

But why is that actually the case? This article gets to the bottom of the question and looks at why data cannot be more important for a company.

content

Customer data reveal a lot about interests and wishes

Customer data is more than just their names, addresses or bank details. Instead, there is also other data that says a lot about the interests and wishes of customers. When talking about this interesting data, the experts tend to mean the following:

Movements

When a customer visits a website, he moves on it. This is particularly important in an online shop.

A company can draw conclusions from these movements. Was the customer looking for something specific and looking at a product? Has he compared similar products with each other and possibly put one in the shopping cart? What happened then?

Abandoned visits

No company wants a customer to leave the site. And yet it happens. These interruptions should be evaluated because they not only provide information about a customer, but also help the company to improve.

An example: The customer cancels the purchase process at one point. If this happens frequently, it may be due to an error in the ordering process. Perhaps it is only indicated too late that payment can only be made in a very specific way.

records

Companies can find out the interests and ideas of a site visitor through the course of the movements. As a rule, interested customers always look at similar products before purchasing them.

This knowledge helps predict what the customer is likely to buy in the future. Anyone who has been interested in kitchen appliances in the past will possibly buy them if they are offered to them precisely in a newsletter.

Data for marketing - almost priceless

Organizations can gain tremendous benefits from data. You get to know the customer who is otherwise just an anonymous person for you. This helps especially with advertising newsletters and tailored advertisements.

Personalized

A customer registers for the newsletter. Now, of course, a company can offer him something - or it can put together products for the newsletter that match the customer's data.

A repeat purchase is much more likely and the customer feels less annoyed by the advertising.

Thought out

One of the main requirements for successful advertising is that it is tailored to the target group.

An example: A pet food shop sends a customer who has only bought cat supplies for years a newsletter with offers on dog food. It is understandable that this newsletter will be deleted and that there will be hardly any purchase. Follow-up newsletters are also ignored if they do not reflect the interests of the customer.

Another example would be newsletters that suggest a product to customers that they have already purchased in the shop. This may make sense in the case of animal feed - but if you have just bought a refrigerator, two months later you will hardly need a new one.

User profiles on social media as a guide

But customer data is also important for social media marketing, as it reveals a lot about the target group. At this point, of course, data from the social media pages must also be evaluated:

  • Site visitors - who calls up the page predominantly and are there interactions? Which user group is particularly active?
  • Interactions - Which contributions are responded to and by whom? Is there a target group part that is leaving the page?
  • Advertisements - Various conclusions about users can be drawn from the reactions to paid advertisements.

Anyone who is just starting out as a company and does not yet have a large number of followers can take the trouble to look at the user profiles who have liked the page.

How can the required data be collected?

Data collection has an aftertaste thanks to the media, but ultimately every company does. Much of the data collected is what the user provides himself, for example by creating an account in a company's shop.

Companies themselves can work with CRM systems. Behind this is customer relationship management. It is a system in which all relevant data of a customer is collected. In doing so, not only the data obtained from the homepage or about orders are recorded, but also information from telephone calls or chats with the customer.

The advantage: the information can be viewed by everyone in the company and is not lost when a customer advisor leaves the company. The CRM system can fulfill many functions, but at the core are:

  • administration - the system is the center for managing data, content and information. All employees can access it, and access while on the move is also possible, depending on the CRM.
  • Forecasts - In addition to sales forecasts, various other forecasts can be made on the basis of the data. This also includes probable purchases.
  • communication - Depending on the system, a CRM offers secure messaging between departments and employees.
  • integration - Most e-mail programs can be integrated into the CRM.
  • analysis - Various analyzes can be generated with the system. The analysis in particular makes an important contribution to the continued use of the data. Only the processing by a suitable analysis method ensures that the customer can to a certain extent be seen through, forecasts and optimization options are offered.

Most CRM systems can be customized to meet a company's needs. Likewise, the systems are often so versatile that they can be combined with accounting or merchandise management programs. Depending on the provider, there is a cloud solution that is of course useful for smaller companies without large server capacities.

Conclusion - customer data helps

Even if data collection is often viewed with skepticism, it helps companies and ultimately customers. Because if they receive targeted and suitable advertising and offers, they feel much less annoyed than if the advertising completely misses their taste. With a good database, companies can also prevent peak times and bottlenecks, as they already know in advance what the customer is going to order.

Pin it!

from entrepreneur manual

This specialist magazine is aimed at small and medium-sized companies, the self-employed and start-ups who do not have a specialist department for every topic. There are practical tips on corporate management that can be implemented independently.