Customer Insights: Have You Looked at your Stats?

As digital marketing continues to develop companies are able to gain valuable customer insights. Not only in the way of profit but also customers behaviours. Some argue that the return on investment is the most essential factor. But analysing your data, open, click and engagement rates can be more influential. Leveraging these insights is key in developing and growing your business’ marketing strategy.

Clients are a key foundation for your business. To convert them, you should be aware of who and what their needs are and statistics allow us to do this! Keep reading to discover what and how to use customer insights to get the most out of your digital marketing strategy.

Know your clients

Customer insights have been compared to peeling an onion. You go deeper and deeper removing all the layers. You explore experiences, beliefs, values, motivations, touchpoints, drivers and more. The intention is to paint a picture of what they look like. Recognising their underlying needs and wants.

By understanding and being able to picture your customers you are able to use language to speak to them, creative that appeals and understand where they are hanging out. For example, is twitter better than Instagram for your offer, what about LinkedIn instead of Facebook?

Customer insights allow a business to achieve its marketing objectives. It allows businesses to further their understanding of who the ‘best’ and ‘good’ audiences are. Read more about this in our Client Profile blog (here).

Identifying goals

What exactly do you want to learn from your customers? It’s important to note that your goals need to be specific to be measurable and valuable. Businesses need to understand why they are seeking this information.

For instance, a brand might recognise the need to improve an existing product. So, they should learn more about the current issues customers are having with it. How do they do that? A customer insights strategy. Keeping track of key metrics and even going straight to the source can be an effective way to measure these.

Key metrics need to be specific to your goal, there isn’t any point measuring something that isn’t relevant to your campaign, eg; add to carts when you aren’t selling anything. Thinks to keep in mind are things like open rates, clicks, engagements, time spent on-page. But if you are selling something, purchases, add to carts, return on ad spend. Whatever is relevant and specific to your campaign. 

Act Accordingly

Digital marketing ensures you are creating timely customer connections. Through using customer relationship management technology and analysing this customer data. In a study by Google Thinkers: Marketing leaders are found to be 1.7 times more likely to refresh their most critical marketing metrics and dashboards weekly.

Insight information should be accessible to all relevant employees. This will allow them to take full advantage of the insights. In turn which helps get the most out of any marketing campaign. Whether it’s a website, social media or email data. It might be as simple as finding your email open rate is greatest on Tuesday. Meaning, send the email on a Tuesday.

Using data and reporting is valuable to set benchmarks, benchmarking sets a standard to improve on. If an ad campaign nets 10 purchases that may seem good, but if last month or the same time last year was 25 then there is something wrong in the campaign. Having these benchmarks in place is a key indicator of whether something is working, but it can also provide information on what needs to be improved if it’s not.

Customer Insights

Test and analyse

Not all customer insights are helpful. It is important to know what makes good statistics and how to analyse them to get the most out of the information you have available. In order to know if data is useful to your business, ask yourself these questions:

  • What is the audience doing/engaging with?
  • Why are they doing it?
  • How is this impactful?
  • How does it relate to our service/product?

Split testing is often used to assess customer insights. It can examine new features, key conversion pages, as well as email and social media. The metrics obtained can be utilised in optimising your new and existing campaigns. While further attracting new audiences with the aim of achieving your organisation’s goals.

A data-driven mindset is essential to achieving your business and marketing goals.

Greenfish marketing can assist with leveraging and analysing your data. We can help add effectiveness to your marketing. Aiming to increase your return on investment and engagement. Contact us today to find out more.

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