Every day, businesses strive to improve and get better at providing the services their brands are recognized for. This they do to beat competitors, retain customers, and strengthen their brand name and reach.
There are a lot of tools you can use to accomplish these goals but one indispensable tool that your brand really needs is customer data. Read on as we highlight the various customer data your business needs.
What Is Customer Data?
Basically, any and every information you have about your customers can be called customer data. The purpose of this data is to give an insight into how well your company is performing as well as give an idea of how you can further improve.
Collecting this data is not the hardest task in the world. There are multiple customer behaviors that are mapped into your radar, giving you an understanding of what and why customers behave certain ways. What really matters though, is your understanding of this data and how you respond to the results.
Quantitative and Qualitative Customer Data
Before we take a deep dive into the 4 types of customer data and their impact on your brand, we first take a look at consumer data through the head-and-tail perspective of quantitative and qualitative data.
- Quantitative: As the name suggests, this type of data comprises numerical representations of customer behavior, e.g., the percentage of customers who buy a product online.
- Qualitative: This type, however, focuses on the information that cannot be measured by quantifiable metrics. An example is the data gotten from a survey conducted about customers’ views of the delivery performance of your company.
Types of Customer Data
This is pretty straightforward as it highlights the most basic information about customers, such as name, address, phone number, age, email address, and so on. This type of data really comes to life when you piece together the various information to give an accurate customer demographic.
This customer demographic is the basic data that lets you sort your customers into segments defined by their attributes.
Another simple type of data, it provides information on the level and rate of interaction between customers and your brand. This data includes the number of likes and shares your brand posts get, the number of times customers engage with your website, and even how many comments you get per image or video post.
According to Tychron, this type of data focuses on the ‘how’ and ‘why’ of customer interactions. This provides information such as how frequently customers abandon carts, renew subscriptions, and even why they chose to purchase from your company.
Not to be confused with engagement data that focuses on interaction, behavioral data goes deeper to find out the manner of interaction, be it positive or negative.
This is vital data that assess just what the customers think of your brand and services. This data can be provided through surveys and online customer reviews, and they’re very vital as they are first-hand data gotten directly from the customers.
This data has a huge impact on the reputation of the brand and also affects the next course of action your brand takes.
The above groups of data aren’t for keepsakes but serve as tools that help define your customers, their behaviors, the reasons behind these behaviors, and how your services are perceived. In essence, they provide a customer’s point of view of your brand.