As today’s consumer becomes increasingly complex, Marketers need to find new and creative ways to better know and understand their customers. Not just their average customers, but their best customers. Do you know the profile of your best customer? Valuable, long-term customers are vital to a successful business. Loyal customers are 15 times more likely to increase spending than the average occasional customer. Let’s take a look at the steps to developing a profile of your best customer.
Cleanse Your Information Regularly
The amount of information available is increasing exponentially. With this comes the responsibility to make sure your information is up-to-date, accurate, and actionable. Business contact information is constantly turning over so it’s important to continually update your information. Develop a process by which you regularly clean you information and confirm its validity. Remember, customer profiles are only as good as the information they’re based on.
Standard customer information such as purchase habits play a big role in your customer profiling but they don’t show the whole picture. Appending third-party information such as geography, job title, and other industry classifications helps you identify hidden relationships and enrich the customer profiles. Maximize the value of your data by finding correlations between your products and outside variables.
Predict Future Behavior through Marketing Analytics
One of the benefits of developing a robust behavioral and demographic profile of your best customer is being able to predict future behavior. Marketing analytics makes this possible. By analyzing the trends and information being poured in today, you can calculate future behavior, in real time. You can use Marketing analytics to identify when other customers begin to move into that same profile.
These three steps will help you know your customers better and identify who your “best customer” is. Understanding the differences between your customer profiles can help you target their needs better as well as predict future behavior. The information to know your customers better is at your fingertips, what will YOU do with it?