How can small businesses use big data to retain their loyal customers?

How to build your brand loyalty with a structural reward program

Small business marketing people have access to customer data collection and analysis tools that not too long ago were called “big data”! They help provide insights.

Every marketer needs customers that would become brand evangelist and big data plays a major role in creating loyal customers.

For the rest of this post we’ll call it “big data” (because everyone else does) but “small data” might be a better word.

What is Big Data Marketing?

Big data marketing is a data driven approach to marketing.

Small businesses are now able to leverage customer data the same way big businesses do.

The follows tools make this possible:

  • Website analytics: Google analytics is free and even provides an ability to do A/B or split testing. This tool allows you know in great detail what content on your site is most popular, what country (and even state and city) your visitors come from, and what traffic sources bring visitors to your site.
  • Marketing automation: Allows you to define a sales funnel and measure how well people convert at each step of it.
  • eCommerce point of sales analytics: You can learn what they buy and what they don’t.

The following are some ways to use marketing data for better customer retention.

Email Lead Generation Strategies

Email campaigns are not a one-time lead generation system.

Marketing automation is email marketing on steroids and there are packages that are now priced for small business.

Customer account management

Marketing data empowers your sales people to be more proactive by anticipating customer demand. Marketing automation packages allow you to “score”activities to allow you to easily sort the really serious leads from the less serious leads.

Pricing tests

You know your gross margin per sale. Your gross income depends on gross margin per until and the number of units sold. You can test pricing and see if a 10% discount results in sufficient increased sales to make it worthwhile. Alternatively you can test a 10% price increase to see if it results in greater gross income or if it kills too many sales.

Conclusion

Small businesses no long have an excuse not to manage their marketing “by the numbers”.

Learn more here…

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