5 Reasons You Need to Make Data Driven Decisions

For years we have watched our competitors, adjusted and tried to keep up. We have tried to make cold calls to find out how our customers are using our products and their opinions. In our ever growing enviornment those methods are not allowing you to keep up.

Forbes surveyed over 300 executives telling us that data driven marketing decisions are the way of the future, and for a lot of good reasons. If you start making decisions based off of data you will see an overall advantage over your competitors.

REASON ONE - Increased Customer Engagement

When you start making decisions based off of your own data you will find that your customers will be more engaged with what you are selling. Like Joe Pulizzi would say you need to find your “sweet spot” to be successful, and so does your data about your customers and products. Look at how engaged your customers are when they first interact with your product, during their first month of use, and their use over time. It is important to compare these numbers to what your ideal customer looks like. Watching these numbers will help you shape every new customer to be more like your ideal customer.

REASON TWO - Increased Retention & Loyalty

If a customer is engaged and satisfied with their purchase they will tell the world. These happy customers will make loyal customers, which increase your retention. Create a list of metrics to regularly keep an eye on so that you know when to spot a loyal customer. You can even feed them content to share with potential new customers making them the perfect evangelist.

To spot a loyal customer you may try looking at

• How frequently they interact with your company?
• The reason they are interacting with your company.
• Do they follow you on social media?
• Have they referred any new business?

These are just some ways you may gauge a loyal customer. Depending on your product or service you may have some other metrics that can also define a loyal customer.

REASON THREE - Increased Profits

According to the same Forbes report companies making decisions of data are “3 times more likely to have increased revenue.” I think we can agree that this one speaks for itself.

REASON FOUR - Competitive Advantage

You need to be the expert in your market. Looking at your data allows you to do that. You need data delivered to you in real-time so you can make decisions that will give you the competitive advantage. Waiting until the end of the month to run a report just isn’t going to work every time. There are many occasions when you need to be able to have access to key information, right at your fingertips. To accomplish this, make sure to select a tool that delivers what you want when you want it.

REASON FIVE - Increased Productivity

With a customer engagement report you can figure out which customer needs certain types of outreach, instead of trying to deliver more indepth time to every single customer — when they may not need it. Making data driven decisions allows you to know what the problem is before you reach out. You will also see? an increase in productivity with real-time analytics. These real-time reports will allow you to spend more time making decisions in the areas that need your attention,  rather than spending time  running reports.

So now you know you need to be making data driven decisions but how can you make that happen today? Ving! Ving allows you to create customer engaging packets to be deliver to anyone, through any type of communication portal. You can real time notifications about activity delivered right to your inbox, allowing you to make the data driven decisions you sales team has been waiting for.