One of the most powerful tools in a business's arsenal is analytics. This is becoming more and more apparent as today we see how the products and services we buy are becoming more tailored for our wants and needs. This is based on our browsing behaviours, the emails we send, the products we buy, the people we interact with. Our online data is being segmented, so we fit into niche boxes for companies to be very focused in the targeting of their services. Amazon revealed this year that they make a new update to their website every 7 seconds based on AB testing.
If your company is not already doing targeted marketing, there is a whole world out there ready to discover. If you are already doing this, then you understand that it is not a one hit wonder. Analytics is ever-evolving as customers behaviour changes, new customers join with new demographics and businesses fight to retain loyal customers through brand advocacy. In tough times, brand advocacy comes to the fore as businesses focus on keeping their loyal customers, the 'low hanging fruit', instead of fighting for a shrinking market in times of low customer spend. Making small investments in targeted Experience Optimisation can have a huge impact to sales and engagement conversions. The ROI can be very significant and is easily measurable. And it is an important step in ensuring your offering is relevant for the right audience in the right channels. Below is a shortlist of how Digital Analytics can help to sustain and grow your business. Set realistic goalsGet deeper insights into what goals are achievable or not in the short, medium and long term Support decision makingIncorporating analytics into your decision making will help make better informed decisions therefore reducing risks.
Find your ideal Demographic
Find out who your real customers are and focus on growing this customer base. Then you can offer a more specific or tailored offering to this group of customers.
Segment your audience
Knowing your audience better allows you to tailor specific products or services to specific groups. Analytics will help you identify these different groups and once you know these groups you will be in a better place to offer relevant content.
Create mass personalisation
Once you know your demographics and have segmented them, you can automate personalised content and ads. This will drive customer engagement and conversion rates.Increase revenue and lower costsIt is important that you are using the right resources effectively and efficiently. Data-drive marketing strategies have been seen to increase revenue by 20% and reduce costs by 30%.
Boost memberships and loyalty
Analytics helps websites built on membership platforms by telling them more about their members and customers and hence potential members and customers.
Monitor social media
Analytics tools can also provide in-depth information on what people are saying about your brand online. You can track your brand mentions and hashtags on social media.
NTT DATA Experience Optimisation is made up of 35 experts across Europe working with all the main technology providers. To find out more how NTT DATA can bring added value to your business with Digital Analytics, get in touch.