Small Business social data
Customer knowledge is increasingly important for small and medium businesses. Before developing a suitable sales strategy is essential to know the customer in depth, in order to design actions to reach them, mainly focusing on meeting their interests. A task in which there is still much room for improvement in terms of progress, especially in the case of small and medium enterprises.
The importance of knowing your customer
The study by Penton Media CMO Council indicates that only half of companies have enough information about everything related to consumer behavior, in terms of customer service or satisfaction. Information that could prove costly not to know it, as it is the main foundation for establishing a long-term commitment. Approximately 40% of professionals and companies surveyed recognised that only have basic information about their customers, while a third of them are interested in the use of CRM, or in improving their tools for analysis and management of such data. There is therefore not denying that social data is vital for small business.
For data recorded from the activity of social network, it is even smaller the number of companies that care about their analysis and practical applications (15%). The data brought about by the survey indicates that only 8% have a comprehensive strategy that allows them to know their customer’s intentions and likes. Another major problem is the ability to analyse and manage the data properly. 2% of respondents acknowledged that they have the information, but they lack the knowledge or ability on how to use it.
Instead, these companies are fully aware of the need to segment their audience and develop actions for each niche. 57% says it has managed to increase the effectiveness of their actions from this optimisation. 40% acknowledged their intention to implement custom communication strategies in order to achieve a more relevant message and improve their outcome with the customer.
The study also noted a turn around when it comes to the customer as the center of the strategy. 29% say that studies serve companies to reflect on the life cycle of the customer, and therefore to optimise their actions, while another 28% use the data to improve AOV, through cross-selling strategies and up-selling. 34% expressed interest in verifying that their products and services are really well adapted to market demands and satisfying the needs of the target audience. This is the main step in developing a client-centered strategy, which needs to increase their interest and resources for Big Data.
The trend highlights the importance of the customer as a starting point and cornerstone of the sales strategy of every company today. A reality that involves great efforts in the study and knowledge of everything about their behavior and purchasing decisions, along with their needs and requirements.