How to Use Data Insights to Inform Marketing Strategies

This guide aims to help you learn more about ways to gather data insights with your CRM. Don’t have one yet? Have no fear—Nutshell is here!

Nutshell’s all-in-one CRM gives businesses the tools they need to succeed and more. Contact us online to speak to a CRM specialist and learn how the Nutshell CRM can help your business, or start a free trial today!

In this guide

• Identifying key customer segments
• Understanding customer behavior and preferences
• Identifying new market opportunities
• Creating personalized and targeted campaigns
• Measuring the effectiveness of marketing campaigns

Identifying key customer segments

Identifying key customer segments is an important part of using data insights to inform marketing strategies. By identifying customer segments, businesses can identify specific customer groups with similar needs and characteristics and create tailored campaigns that appeal to those segments.

Businesses can create their own customer segments through market segmentation, where marketers categorize people into groups based on their shared characteristics and how they react to marketing efforts.

There are four common types of customer segmentation used in marketing:

• Demographic: To create customer segments based on demographics, marketers categorize customers based on characteristics like gender, age, race, profession, and income.
• Psychographic: Less tangible than demographics, psychographic segmentation involves segmenting customers based on traits like beliefs, values, lifestyle, and personality.
• Behavioral: With behavioral segmentation, customers are categorized based on their actions in relation to the sales funnel. These actions include things like interacting with a company’s social media accounts or signing up for email newsletters.
• Geographic: To segment customers geographically, marketers look at customers’ geographic locations, including cities, states, countries, and regions.

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Understanding customer behavior and preferences

Businesses can use data insights to understand customer behavior and ultimately improve their marketing campaigns. When businesses understand customer behaviors and preferences, they can better understand what motives and priorities influence customers during the buying process.

Understanding these motivations and decision-making methods allow marketers to use that information to craft personalized marketing campaigns that are more appealing to customers.

One of the best ways to identify customer behaviors is to conduct a customer data analysis. Customer data analyses help marketers understand how customers interact with your company at various stages of the customer journey.

To conduct a customer data analysis, segment your audience into buyer personas and observe how they move through each stage of the customer journey. Marketers can also understand customer preferences and behaviors by:

• Analyzing market trends
• Identifying customer pain points
• Using surveys and online forms

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Identifying new market opportunities

With the right strategies and behaviors in place, businesses can identify new market opportunities that increase audience size, improve sales, and give them a better understanding of their customers.

Businesses should always be on the lookout for new avenues to expand their market, and with these six strategies, they can do so with ease.

• Analyze market trends: Analyzing market trends allows businesses to identify changes in customer behaviors and preferences that can influence demand for certain products and services. It can also benefit companies by keeping them on top of economic shifts and tech advancements.
• Identify untapped markets: Untapped markets are prime opportunities for businesses to expand their sales and marketing efforts and take advantage of new market opportunities.
• Understand customer needs and pain points: By understanding customer needs and pain points, businesses can identify opportunities to develop and offer new products and services to their customers that directly address these issues.
• Conduct a competitive analysis: Competitive analyses give businesses insight into their competitors’ sales and marketing tactics. In doing so, companies can identify markets where their competitors are outperforming them and discover new audiences and trends to capitalize on.
• Analyze customer feedback: Customer feedback is a great way to identify new market opportunities because marketers can learn about customer pain points that need addressing directly from the customer themselves.
• Monitor changes in the regulatory environment: By monitoring the regulatory environment and staying on top of upcoming legislation, businesses can identify new market opportunities as they open.

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Creating personalized and targeted campaigns

Creating personalized and targeted campaigns starts with analyzing customer data. By analyzing customer data, businesses can gain a better understanding of their audience and who they’re marketing to.

Through market segmentation, businesses can identify key customer segments and target campaigns directly to those people to increase chances of customer engagement and conversion.

Another way to create personalized marketing campaigns is to create a customer journey map. Customer journey maps describe the path traveled by a customer as they encounter a company’s touchpoints. For example, here’s one way a customer journey could unfold:

Customer finds your site through a social media ad –> Customer browses your site and reaches out by phone or email –> You send a proposal to the customer –> Customer decides to do business with you

By understanding the customer journey, businesses can identify how to optimize touchpoints to increase lead conversion rates and bolster sales.

Additionally, businesses can use customer data to tailor marketing efforts to specific audiences through various platforms and mediums. With customer data on hand, businesses can optimize email, paid advertising, and social media marketing campaigns for specific audiences.

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Measuring the effectiveness of marketing campaigns

Ensuring the continued success of your marketing campaigns starts with measuring their effectiveness. By measuring the effectiveness of marketing campaigns, businesses can determine their campaign’s return on investment (ROI) and fine-tune their campaigns as needed.

There are plenty of tools out there to help track campaign performance, including:

• Web analytics
• Email marketing software
• Social media analytics

Businesses can also measure the effectiveness of their marketing campaigns by analyzing customer engagement and monitoring key performance indicators (KPIs). Important customer engagement metrics to track and analyze include:

• Click-through rate (CTR)
• Open rate
• Conversion rate
• Pages per session
• Average session duration

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Learn how to use customer insights to inform campaigns with Nutshell

Nutshell’s all-in-one CRM gives businesses the tools they need to collect customer data for personalized campaigns and more. Complete with data collection and organization features, email marketing tools, and analytics tools, Nutshell helps businesses create personalized marketing campaigns that engage audiences and drive key metrics.

Learn more about how Nutshell can help your company grow its marketing efforts by contacting us online or starting a free trial today.

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