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Which customer data helps drive revenue growth?
This is a question that should be at the forefront of every business owner’s mind when you start thinking about data driven marketing.
Below is the list of information I’ve found is most useful to collect about the target market(s) before I start developing a revenue growth roadmap. If it is an existing brand with a large customer base then I prefer to focus on data about the highest retained & happiest customers (NPS 9 & 10).
What can I learn about the customer’s:
- Social status
- Club memberships
- Choice of entertainment
Do they have hobbies & activities? If yes …
- Are they seasonal?
- How often do they engage in these activities?
- Is the activity required (for work, school, etc.)?
- Do they spend money on the activity? If yes, how much and what are the payment cycles (pay per use, subscription, etc)
- How emotionally invested are they in the activity?
Do they have any specific opinions that I can leverage or include in our marketing material, branding & ToV? Such as opinions about: themselves, social issues, political issues, fashion, family, food, business, economics, education, products and services
If there is an existing brand, how do the customers perceive the company and products?
How do these products fit into their lives? Does this data indicate an opportunity to increase acquisition via a referral program or increase wallet share by adding more service / product offerings?
What do current customers hope to achieve with this product or service?
How does this product or service address one (or more) pain points?
What objections do people have to making a purchase? Are these objections held by actual customers? (You’d be surprised by how often competitors create fake accounts to complain about your brand online).
How big is the qualified available market (people who are interested in your industry category, have the financial means to purchase your product / service and are legally able to make such purchases)?
What terminology & key phrases do the people within this target market use on a regular basis?
Where to find customer data?
FREE: Secondary data
- Amazon.com reviews
- If you have a product similar to those sold on Amazon, the amazon customer reviews section is a gold mine of data for you. From pictures to paragraphs, this corner of the web is a total G-d send.
- Walmart.com reviews
PREMIUM: Secondary data
- SpyFu (keyword research & competitor research) – this is my favorite place to go when I start my search
- Trade Association Subscriptions
- Nielsen (example – https://www.nielsen.com/us/en/insights/report/)
Primary data (these can be free or premium thanks to the rise of social media). Pick out questions from this mega-list.
- HotJar – I gather a lot of information about user behavior here.
- Website surveys
- Online quizzes
- Customer interviews
- Focus groups
- Customer interviews
- Social media polls
This post was brought to you by Adi Soozin of MD9.co. If you enjoyed this post and would like to see more like this, consider using the affiliate links we include in these posts. They allow us to occasionally earn a commission if you decide to make a purchase. This is at no extra cost to you and it supports this website, as well as the composition of future posts, which means we can spend more time writing content. I genuinely recommend everything linked to via this website.