Turning In-Store Data Collection into Actionable InsightsTurning In-Store Data Collection into Actionable Insights

So you have your purchase data collected from your store to see what your customers are buying the most. The next step is to formulate a plan that turns data into actionable campaigns to push your business forward. Congratulations on getting this far; it can be a daunting task to get to. Being innovative and dynamic with ideas and actions using data is critical in today’s competitive environment. Here are a few tips that can get you up to speed and onto your next venture.

Brainstorm Ideas

Get creative with your data. If customers purchased products online-only, and you don’t have a physical shop, think about doing a pop-up store where people can demo your products and see them in real life before purchasing, set up booths at festivals, and feature your products at community events. A great piece of marketing is to have cards, business cards, and flyers ready with your location, website and contact information and perhaps a special code for a free gift or consultation to make the results of specific events easier to track.

As part of this diversification, be sure to consider your messaging, brand voice, and content. Businesses nowadays – especially amongst Millennials – need to have a message, something positive to say. Every piece of marketing and advertising collateral must be integrated with your overall brand strategy and speak to this message. Consider aligning yourself with a charitable cause that you believe in as well. This will dovetail with your booth or pop-up store to make the most of sales opportunities and help you stand out from competitors while also benefiting a worthy cause.

Consider Demographics

What age range, ethnicity, gender, and socio-economic background your customers come from can be very telling as to what you have to improve on. It can offer insights that can help you market your product in the future. Pay attention to what drove them to your store, whether there was a sale or promotion that drew them to your doorstep. Get to know them by finding out how they relate to your brand, and what problems you solve for them by selling your products.

Tastes, Likes, and Dislikes 

In your data, turn to what customers seemed not to purchase or like. It can be harsh to have your work not entirely accepted sometimes, but this is key in figuring out what to improve on so your sales go up. Think of discounts you can offer on these items, or pair and feature them with other popular products on your website. This can get more attention on those areas where low sales have been bringing down your overall numbers.

Face-to-Face

One of the things that will never change is the value of meeting people in person. Simple marketing choices can increase the likelihood of that crucial in-person encounter. Things like yard signs and custom vinyl banners are fantastic and inexpensive ways to grab customer attention and increase traffic. If you’re a virtual e-store and are doing an event of some kind, these will also help direct customers to where you are and what you are doing either that day, week, or weekend. It can mean the difference between a few dollars and hundreds of dollars for that day.

Talk to your Audience

Ask your customers for their thoughts. Find out the reason behind the “why”: why did they buy it. Think about adding products they wish you had in stock. This is also a great way to put your name on your community’s map and become a go-to when they need something. This is especially true if you are a unique store in your town. In that case, you can even think about making your own kind of products that are near and dear to your community that no one else has.

Results

Once you launch your new campaign, give it a few weeks in order to get the best measure of your data. This will show you what may have gone right or what may have gone wrong. Consider outside factors too on what may be affecting your sales. Was your event in competition with another event that might have drawn customers away? 

Keep Building…

To create the best actionable results, don’t settle on one single idea. There are a multitude of ideas you can do with your marketing that can mean the difference between making your business a small success versus becoming a big success.

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