How To Use Data To Increase Conversion Rate And Revenue
Data that is unique to your business and provides clear insights about your customers and the products or services they are demanding is especially useful to marketers. Leveraging this data also helps you create value for your customer and develop better online experiences. This can increase your conversion rate and return on investment.
The importance of a digital data strategy for best-in-class marketers to drive revenue and savings growth has always been and remains vital. Responsible first-party data use is becoming more and more important by the day.
Understand Your Target Audience And Their Changing Needs
As people’s routines and brand preferences are turned upside down with rapid digitalization, you can see users begin to exhibit new behaviors. In fact, you may witness the sudden increase in the number of buyers in demographic groups that you had not even thought of before. Analyzing your first-party data helps you understand more clearly what’s going on.
Your data also helps you learn more about customer lifetime value and identify which customers you are at risk of losing. Tools used by many companies, such as Netmera’s analytics & engagement tools, can be useful here. Many companies have unlocked the potential of its data with the help of Netmera, increasing the number of leads and reducing costs.
Reach And Interact With Your Most Valuable Customers
Understanding the message correctly and delivering appropriate and useful messages to customers at the right point of their journey is more important than ever these days. Data-driven strategies can help marketers reduce unproductive marketing spend by helping them deliver their messages in the most appropriate way to the customers they want to interact with the most. The importance of validity and savings for companies has reached the highest level today.
You can benefit from remarketing tools for this. Here, Netmera allows marketers to reach and engage with potential customers across every channel they can reach customers using offline or online first-party data. One of the most obvious and pertinent support these tools offer to companies is allowing them to optimize their ads to reach only a specific subset of customers or promote only a specific product category.
Leverage Data And Analytics To Improve Your User Experience
You can also benefit from your data and analytics on changing customer behavior to improve the user experience you offer. For example, you can edit your site or app to improve navigation on certain pages and reduce bounce rate, or even adapt your design to show only the most popular products of the week.
One of the ways to do this is Netmera’s analytics tool. This tool can help improve your performance, allowing you to run tests on your website to see what content your customers prefer.
Want to identify which users are more likely to convert? You can collect data about site activities, user clicks, page visits and whether they are converted. Want to determine what can reduce subscription loss? Collect data on user interactions, their frequency, products owned, and whether they are used.