Business: Learn (and Earn) Through Customer Analytics

Learn through customer analyticsWhat are the most heavily trafficked pages of your website? Can you predict what items are going to be flying off your store shelves this season? With the help of analytical tools and techniques your business can leverage insights from your customers’ behavior and historical preferences to make better decisions and become more profitable.

A Wealth of Web Info
Whether you realize it or not, every time a user clicks through your company website, they’re doing more than just searching information or making a purchase. Their actions can tell you a lot about your product/service offerings and even your website’s functionality.

By installing a web analytics tool such as Google Analytics, AWStats or FireStats, you can track visitors’ actions and reveal potential problems and opportunities.

For example, you can find out the most searched for products or services on your site to get a beat on what your customers want. You can also uncover areas of your site where customers might be getting “stuck” or exiting your site after encountering difficulty.

Become Social Savvy
If you maintain a presence on any of the major social media channels you already have a good amount of information available to you. Facebook, Twitter, Tumblr, Pinterest, YouTube and LinkedIn all have easily accessible and valuable analytics dashboards built-in.

When generating a report, pulling results from a two-or-three month period will ensure you have an adequate sample size from which you can draw strong conclusions. The results will be helpful in determining what times and days of the week and what types of updates are resulting in the highest level of engagement on each platform. Thus, helping increase your social footprint by populating your editorial calendar with more valuable and higher quality content over time.

Existing Tools
If you’re a brick and mortar business owner and the thought of adding a layer of digital complexity to your plate seems daunting, try making the most of your existing tools.

Your point-of-sale, inventory tracking or customer relationship management systems are home to mounds of information. And many of these programs allow you to export your data to a spreadsheet, where a quick sort can reveal big picture trends to help cut down on inventory guesswork or unveil new leads.

Back to Basics
Customers are at the core of every business. And developing products and services that fulfill a need or solves customers’ problems is Business 101. However, even in mature businesses and industries, customers’ tastes and preferences and how they interact with your brand can shift over time. Utilizing the insights gained through customer analytics can improve your organization’s ability to anticipate and adapt to such changes in a timely manner for maximum benefit to your bottom line.

What’s the most valuable insight your customers have taught you about your business?

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