A few things first,
From our previous post, we discussed major ideas around data and why it is important for a business to incorporate data-driven methods in making major business decisions. In this article, we are going to dive deeper into customer acquisition, retention, and loyalty building. How exactly can data help you achieve these for your business? That is our point of discussion today, so buckle up!
In today’s world…
…business owners, executives, marketing teams and production teams are saying goodbye to old methods of studying customers. They are instead turning to things like AI and big data to get an idea of what the customer wants. (Check this post about LiSA to understand what AI and big data mean in this context)
From Big companies like Safaricom to startups like M-jenzi, PikaRecipes and Kijani, big data and machine learning are used to assist make very critical business decisions. This works by using complex automated algorithms to make decisions in split seconds. These algorithms are able to create logical and accurate outcomes from data fed to them from your business, either directly or through an automated process. These systems work in such a way that the more data they consume, the more accurate and extensive the results are.
lisa is one of these systems. lisa, however, goes a step further of aggregating the necessary data for your various business decisions. The platform is also dynamic, meaning that you can use it for any type and size of business.
Building a data-driven business.
So, as a business, using big data analytics and machine learning is a great way to keep hold of your customers by having a deeper understanding of where to find them, what they want, when they need it, and even how they want it. This allows you to put more resources on the customers that are more likely to consume your product or service, as opposed to spreading your resources blindly without any data-driven metrics.
On the other end, a deeper analysis of your data can help you figure out the reasons why your customers aren’t returning or not showing up at all and deal with such an issue before it happens. This is possible because these data-driven lisa algorithms are able to study your customers, build a profile and use that profile to predict their future behaviors. If the predicted future behavior of your customer is somewhat showing a decline in demand for your products and services, you are able to know why and mitigate it before it happens. It might sound like magic, but that is the power of data. So if I were you, now would be the time. Start somewhere, Probably by getting a demo of lisa, hizi vitu you never know. It could be start of the end of your troubles!
Customer acquisition.
Acquiring a customer and keeping them could be tasking if you do not have the right information or plan around it. To acquire a customer, you must first study them, understand them and know where exactly to find them. You tell me how you are going to achieve this without data? So we agree that the first step is to collect the data, visualize it and build profiles. Your customer profile is quite important. It will help you understand their consumption habits and know how, and when, to meet them. With this, you are armed and ready to acquire your customers because you understand two critical points: Who is your customer and Where to find them. The good thing here is that your data-driven strategy is properly tuned so that you are able to meet your customers at their needs.
It gets even better when this whole process is automated, meaning, you do nothing but just watch. Here is how that would work. Connect the lisa API (an API is what allows two or more apps to work together, it’s like the cable connecting your TV to your sound systems) to your apps, websites, or systems (lisa comes with a dashboard, and a business management app. So if you do not have any, do not worry, we got you!). After connecting, the algorithm itself is able to aggregate all the relevant customer data from all connected sources, build the profiles and suggest ways of acquiring these customers, the products, or services best suited for them and if you allow it, send automated custom marketing messages to your customers directly to their phones. Sounds sweets, right? Anyway, it is technology, and our mission is to make it available and affordable for everyone!
Keeping a customer.
The other issue we must address here is that of keeping a customer. As discussed above, knowing what a customer wants is quite critical. Being able to predict their future behavior is even more critical. With those two in mind, lets us keep a customer.
Number one,
Personalizing their experiences! what this means is that you do not serve all your customers the same way. You make sure if it is offers, you offer them based on what your customers buy, when they do and amount of money they spend. If it is marketing, you do not advertise or send the same marketing emails, or campaigns to your customers, you send them one that is closely aligned to their wants or consumption patterns. This way, you will not only save time and money, but also keep your precious clients.
Number two,
Adjusting to their future needs. Someone said that a customer behavior is highly unpredictable, I think that person did not have data, if they had maybe it was not enough, if it was, they definitely did not have lisa. In traditional methods of studying and tracking a customer, it is true that predicting their future behaviors or even coming up with any useful ideas, plans, or strategies for the future is quite erratic and a form of guesswork. this problem is put to an end when you are able to constantly, widely and automatically study your customers. You see, a guess would be termed as a prediction without data. A speculation would be a prediction without enough data. In this context, then, a speculation is better than a guess. Therefore, we can agree that the more data we have, the more likely to form an accurate prediction we are. This means that if the customer data is supplied when it is needed and in the right form and quantity, predicting their behavior becomes easier and non-tasking!
Moving forward…
Obviously, traditional methods are not able to help you achieve this because, they mostly depend on manual processes which are subject to error, are slow and of course not as extensive. It is therefore prudent for you as a business owner, executive, or a startup to make sure you have the right tools before to kick-start your “data-driven” journey.
In conclusion, Big data and AI are technologies that, if understood properly, are able to help you optimize your operations and help your business achieve its highest potential and save you a lot of money in unnecessary bills, and marketing campaigns.
Till next time, cheers!!!🍻