There is no denying that big data marketing is critical to the success of your digital advertising strategies. Your data helps you generate leads, uncover new opportunities, appeal to your buyer personas and build your brand. However, big data marketing by itself can't cultivate strong interpersonal relationships. It can't negotiate favorable deals, outline complex problems or provide customized solutions.
Far too many companies assume they can hit the ground running with big data marketing. They think their digital strategies alone can build a loyal customer base, but it can't. Endless rebates and special offers mean nothing if you don't present those deals at the right time and to the right buyer personas.
Use the Data You Have Right Now
Keeping customers loyal means using the data you have right now and taking a personal touch to managing customer relationships. Your data gives you the information you need to approach customers with the right offer, under the right circumstances and at the right time. It's ultimately about using the data you've already gathered so that your digital strategies are more relevant to what your customers need and want.
Making the Right Offer Under the Right Circumstances
Your big data marketing allows you to offer special pricing and discounted offers ahead of competitors. It's no different than predictive analytics in supply chain management. You can use data to predict customer behavior. You can map out your market's pricing and identify historical trends relative to volumes, pricing, purchasing patterns and discounts. Once you've pinpointed those trends, you can use that data to your advantage. Here are some examples of how big data marketing helps build a loyal customer base.
Reacting to Declining Market:
If you know that the first and second quarter of the year is marked by a steep decline in demand, then you might be able to spur that demand with a well-timed price decrease, a discounted offer or even an inventory liquidation offer. It presents a united front and makes your customer feel as if you have their best intentions in mind. You're in this together and they'll come to appreciate your proactive strategies.
Reacting to Increased Demand:
If you know that the third and fourth quarter of the years are your busiest, then you might be able to offer a packaged deal to your customers, one that saves them money but also increases your sales. You can be proactive by calling them in advance and warning them of the upcoming volume crunch. Giving customers advanced notices allows them to plan better and they're never left wondering what just happened.
Offering the Right Solution at the Right Time:
If you know that customers are looking for a new solution, one your company is about to launch, then that simplifies how and when you approach your buyer personas with that all-important new product. Timing is everything nowadays. Companies are less concerned about who's first to market and more concerned about who is being serviced and when.
Do these examples help you increase customer loyalty? They do because they show that your company is on the ball. You know what your customers need before they do. You're working for them and with them and that gives the impression you're right alongside them, fighting the good fight.
When you proactively get back to customers because your big data marketing allows you to, then you're going to build customer trust and loyalty. All the digital strategies that follow afterward are easier to manage. Email marketing, retarget marketing and other digital campaigns work best when you use the data you have right now.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.