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Using Product Data to Improve Customer Relationships

Data has become an increasingly-important part of every-day marketing. Information is constantly gathered about a company’s performance, the customers’ preferences, and the trends of the particular industry. This information is invaluable in assisting companies in improving their products and services, marketing strategies, and customer service goals. Using your own data to better connect with customers will help relationships grow.

Where do you start?

Collecting data is just the first step. The next step is figuring out how to use that data. Organizing and analyzing the data will point you in the next direction, Once you have done those two, you can perform the next, and arguably the most important part, to use that data to create products that consumers want. The data can continue to be used throughout the life of the company to determine the new trends, strengthen connections with current customers, including informing them of the newest products. The business owner can then communicate this information to the current customer, which will hopefully give them another reason to shop from your business again. It’s also important to intrigue new customers so that they visit your store, whether solely online or both online and physical.

A separate aspect of determining what consumers want is to understand how consumers connect with your brand. When you learn certain consumers or groups of consumers are interested in, you can show them ads or products they may want to buy. Once you determine what kinds of products they like, you can produce more of those products to keep up with demand. There are several ways to do this, but here are two.

Use data to personalize

Be sure and use the information you receive in order to create a personalized message. This will make the brand seem more personal, and that you really “get” them. For example, make it a priority to remember their name, and use it every time they come in. Or you could make a mental note of products they viewed last time but didn’t purchase. Mention those products again, and see if they are ready to make the decision to purchase today. Connecting with your clients on this level is key.

Similar to personalizing your interaction with each customer based on their previous expressed or implied interests, wants, and/or needs, it is important to customize their experience. The customization comes in when you learn what your customers’ interests are over time. Their interests most likely will not stay the same. The more you learn what your customers’ wants and needs are during a period of time, you can adjust where needed in order to meet their needs.

Brand power

Another important factor to consider when determining what consumers want is what kinds of brands they want. What are the most popular brands? What, if any, are up-and-coming? Do you already sell those? Or do you manufacture a comparable one? Part of this equation is removing old, outdated, discontinued, or unpopular products. Doing so will assure you have the freshest, newest products to offer your customers.

Gathering, analyzing, and using product data from consumers is vital to an organization’s health and well-being. It must be continuously monitored to assure that the business is keeping up with the pace of the consumers’ changing needs. Doing so will keep a business not only surviving, but thriving. Yes, it takes more work, but the payoff is well-worth it. Invest some time in researching your customers’ habits and see how much higher your business will soar.