How well do you really know your customers?
Customers want to get more from companies than ever before, so it’s never been more important to understand your customers’ needs. But if you’re going to truly get to know your customers, nurture your relationships with them, and ultimately improve your business performance, it all comes down to one thing: data.
To deliver exceptional customer experiences, increase customer loyalty, and boost ROI, you need to use your data to inform your decisions and shape your marketing strategy. The statistics speak for themselves, with businesses who use data-driven strategies driving five to eight times as much ROI as businesses that don’t.
However, despite this, 87% of marketers say that data is their company’s most under-utilised asset, with 75% believing that a lack of education and training on data and analytics is one of the biggest issues holding them back.
So how can you unlock the power of your data and put data at the centre of everything you do?
If you are struggling to process, access, and analyse your data, a data science company will be able to help you get to grips with your data and use it to your advantage.
With that in mind, if you’re searching for a data science partner to help you maximise the potential of your data, read on to discover what all top data science companies have in common.
4 things that top data science companies have in common
1. They’ll use analytics to provide in-depth insights
When you work with a top data science company, they will measure the success of your marketing, track your goals, and measure your KPIs. Basically, whatever you need, they will empower you to use your data to get to know your customers and make informed decisions.
You probably already know that if you want to make solid business decisions, you need to utilise your data to get to know your customers. It’s fair to say that most companies already have a pretty good idea of who their customers are.
To get ahead of the competition, you need to go one step further and unlock key information and data points so you can get to know what really drives your customers – and that’s exactly where a data science company can help.
When you partner with an expert data agency such as Edit, you’ll work with a team made up of strategists, data scientists, data engineers, and statistical masters who all have a strong marketing and business acumen.
This powerful mixture of skills means that we can provide expert insights that others just can’t see, giving you all the information you need to make informed decisions and achieve a better return from your actions.
2. They’ll use segmentation so you can get to know your customers
Did you know that marketers who use segmented campaigns note as much as a 760% increase in revenue?
That’s powerful stuff – which is why when you work with a top data science company, they will use clever profiling and segmenting to help you understand your customers, work out exactly who you should be speaking to, and make more cost-effective marketing decisions.
When you work with Edit, for example, we will use a combination of first-party and third-party data to discover who is engaging with your brand and who should be engaging with your brand, enabling you to find out any similarities in their behaviours, traits, demographics, and motivations.
By defining your ideal customer and splitting your customer database into specific subgroups, we can ensure you really get to know your customers so you can connect with them in a more holistic way and deliver personalised campaigns that appeal to the needs of each of your customer segments.
3. They’ll use attribution modelling to evaluate touchpoints
Once you’ve gotten to know who your customers are, a good data science company will help you understand how relevant each customer touchpoint is so you can determine how to spread out your marketing spend.
By assessing each customer touchpoint and working out their importance, top data science companies then help you plan and budget for your campaigns moving forward.
By using analytics and attribution modelling, they will be able to help you see how your audience interacts with your site, what works and generates the biggest return, and which areas you need to improve on.
Doing so means that even in today’s omnichannel environment, you can analyse which channels or touch points lead to a sale or conversion and measure the impact of each customer interaction on your bottom line – so you know where to invest in your marketing to get the best possible results.
4. They’ll use predictive models to personalise your approach
Now you know who your customers are, what drives them, and which channels they interact with, a good data science company will help you use predictive models to personalise your approach and maximise your campaigns.
It’s never been more important to get personal. In fact, customers today demand it, with 71% of people expecting brands to provide personalised interactions.
By understanding your customers’ needs before they do, you will be able to use your data to determine where each customer is in the sales cycle and identify what kind of messaging they need and when. This means you can customise communications with each contact, creating bespoke messages to grab their attention.
The result? Highly personalised content that results in increased engagement, higher responses rates, and better ROI.
How Edit can help you get the most out of your marketing
If all this sounds like something you would like to explore, then look no further than Edit and our team of data wizards.
When you enlist the help of our expert team, they will strip everything back and use real data to create powerful, highly tailored strategies that get you the results you need.
We’ve been doing this for a long time, and our tried-and-tested, data-driven approach will empower you to reach your customers in the right way at the right time so you can benefit from award-winning campaigns and unforgettable customer experiences.