3 aspects of customer data to dig into for increased revenue

Post by admin on 01/03/2021

In today’s uber-competitive retail environment, knowing and meeting customers’ expectations requires understanding who they are and recognizing them every time they shop – and the best way to do that is to learn from your customers themselves.

Paying such close attention provides the ability to better cater to shoppers’ tastes — and retailers are generally rewarded for crafting such personal experiences.

According to a recent study by Motista, consumers with an emotional connection to a brand have a 306 percent higher lifetime value and stick with a brand for an average of 5.1 years vs. 3.4 years.

Further, they tend to recommend brands at a much higher rate: 71 percent vs. 45 percent. But getting to the point where you can really understand who your customers are — what makes them tick — is a process.

It doesn’t happen overnight, and it won’t happen at all without a game plan.

Here are a few things to consider to help you really and truly understand who your customers are, what they want, and what they are willing to do to have their needs met.

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