5 reasons you need to make data driven decisions
TRANSCRIPT
5 Reasons You Need to
Make Data Driven Decisions
Forbes surveyed over 300 executives telling us
that data driven marketing decisions are the way of the future.
If you start making decisions based off of data you’ll see...1. Increased customer engagement.2. Increased retention and loyalty.3. Increased profits.4. Competitive advantage.5. Increased productivity.
REASON ONE
Increased Customer Engagement
Look at how engaged your customers are when they first interact with your product/service, during their first month of use, and their use over time.
It’s important to compare these numbers to what your ideal customer looks like.
Your ideal customer will lead to increased revenue.
REASON TWO
Increased Retention & Loyalty
Your data will tell you who your happy customers are.
These are your loyal, evangelists.
It costs less to keep a customer than it does to obtain a new one, so make sure to locate your happy customers to keep them — happy.
Tips To Spotting a Loyal Customer
● How frequently do they use your product/service?● How frequently do they contact customer support?● Do they follow you on social media?● Have they referred any new business?
REASON THREE
Increased Profits
According to the same Forbes report companies
making decisions of data are “3 times more likely to have increased revenue.”
I think we can agree that this one speaks for itself.
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REASON FOUR
Competitive Advantage
You need data delivered to you in real-time so you can
make decisions that will give you the competitive advantage.
Monthly reports, while necessary, are not going to give you the competitive advantage you need.
There are many occasions when you need to have access
to key information at your fingertips.
To accomplish this, make sure to select a tool that delivers what you want when you want it.
REASON FIVE
Increased Productivity
A customer engagement report can help you figure out what customers need, quickly.
Allowing you to make Data driven decisions and
increase productivity.
Real-time analytics let you know what your customers need before you reach out, allowing you to focus on exactly what your customer needs.
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