The best way to conquer customers hearts (and consequently their money) is to learn how to cater to their needs. Today’s world is overwhelmed by different business offers, each trying to out-game the other by being more unique or more exclusive than the rest. This competitiveness often leads to businesses getting blinded by their quest to become the most desired one with highest revenue and forgetting that in the basis, their successfulness majorly depends on how well they simply know to make their customers feel good — 70% of buying experiences are based on how the customers feel they are being treated. So, more often than not, it’s actually not about being most luxurious or standing out the most at all as people actually crave a place which makes them feel understood, listened to and well taken care of. But how to get to the point of knowing your customers well enough to make them feel so good they keep coming back for more?
Maximise customers value
To answer the questions that are vital to your business’ success, one must first gain insight into customers behaviour — collecting data on what is actually happening in your business is the only way to begin understanding your customers and identifying where there is room for improvement. A study by Forbes showed that advanced analytics helped businesses in gaining greater customer engagement and customer loyalty. By building long-term relationships with customers, businesses can proactively address their needs, improving customers satisfaction and consequently gaining bigger profits.
Discover hidden sales opportunities
Besides building and improving your customer base, advanced analytics enable businesses to discover hidden sales opportunities, which can instantly increase their revenues — a report by Bain and company discovered that businesses who use data for business improvements are 2x as likely to be in the top quarter of financial performances within their industries. Once you gain access to information on what and when your customers are buying, you can easily match your business offers with current consumption trends and greatly improve your profitability.
Turn Data into money
More and more businesses are starting to realize the power of data as the Worldwide Big Data market revenues are projected to increase from $42 billion in 2018 to staggering $103 billion in 2027. It is a fact that data can immensely help you with increasing the value of your business, but only if the business recognizes the true value of data and learns how to make most of it — a study showed that by increasing the usability of data by just 10%, the average Fortune 100 company could expect an increase of $2 billion dollars in revenue! So, how to reach this incredibly valuable data and start turning it into money?
Every business holds a huge amount of information, ready to be turned into amazing new business opportunities. However, collecting, presenting and analysing all this data in a way that helps your business grow can be an uphill battle. Luckily, Futourist is here to lighten your load.
By claiming your business on the Futourist platform, you will be provided with everything you need to turn your business into a thriving success — advanced real-time analytics, presented in visually compelling tables and charts will help you gain knowledge about who your customer base is and what it needs, how to improve your customer service, predict new revenue streams and drive new profits by understanding what is going on in your business, leaving you with only one remaining worry — to start planning what you will invest all your extra revenue in.
Are you ready to make your business thrive?
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