Information has never been more key to business than in today’s modern business environment. Through business analytics, organisations can gather more information than ever before in an effort to improve the customer experience. For business owners, this means an increased bottom line as this new information can be used to predict consumer behaviour and purchases.
It’s important to take some time to really understand how analytics and data mining can vastly improve the customer experience. Every website we land on, every purchase we make and every online transaction we complete are grouped and quantified so that businesses can better serve us. More than just getting to know the customer, companies like Scraping Solutions can drastically improve your marketing efforts allowing you to better target the right people at the right time.
Let’s take a look at how you can boost your marketing plan and reach more potential clients through the power of data mining.
Analysis Of Purchases
One of the major ways businesses know who their customers are, is by taking inventory of completed purchases. Whether consumers are shopping for a particular wine at the grocery store or making a major purchase online, credit/debit card purchases tell a story of who each customer is, their buying behaviours and can help to highlight patterns. Data can be extracted to determine credit limits and also to determine how to provide bespoke solutions to the consumer in relation to their specific needs.
Data mining can be used effectively by all kinds of businesses looking to bolster their operations. Insurance companies, for example, can gather data related to actual claims made to determine patterns in fraudulent claims. This information can then be used to create guidelines that prevent such fraud from occurring again in the future.
Better Marketing
Web scraping also helps businesses to determine how to market to the right demographics. Businesses can reach consumers in a number of ways. For example, old methods like online surveys, and using social media as a place where customers can interact with the company are two ways that businesses can collect data to learn how to reach their intended market. With more information at your disposal about your customers, you can implement a marketing strategy that will be more effective.
Forecasting Purchases
Not only can businesses determine what products need to be updated or scrapped from the catalogue, but they can also use information gathered through data mining to determine the market value of the product or service in question. Having the ability to price yourself competitively in the market puts you in a position to offer special deals and discounts to your customers through your marketing plan and bring more business to your company in the process.
Customer Service Relations
Companies can use data mining to collect data in relation to customer relations, with phone call data being highly sought after. This data can tell businesses how long customer reps are on the phone with customers, it allows you to know whether the call was long distance or local and other information depending on the nature of the business. All of this information can be used to determine customer behaviours and what techniques work best to help your business reach more customers.
Reduce Turnover
The old saying “the numbers don’t apply” really does hold true in marketing. The numbers explain in detail just how well a campaign is performing for a company and the more information you can gather the better you can track, measure, analyse and adapt your marketing strategy as needed. Whether you are trying to sell food or trying to sell clothing, web scraping can determine how many of your customers are leaving and how many you are retaining and it can help paint a picture of why.
Creating Marketing Success
Web scraping is an integral part of the modern day business landscape and should be utilised by those looking to improve their marketing strategies. Businesses nowadays can use mined information to better tailor their products to the needs of their customers, to improve customer loyalty, and to make predictions about customer behaviour and purchases. In business, information is critical and with the right information at your disposal, you can boost your marketing efforts and bring in more business than ever before.