One solution is to get the customer to share their data voluntarily. This way, you can build your own customer base that generates returns on the proprietary data. To do this, you need to give your customers clear incentives.
Here are some suggestions for building volume for your own data:
- Monetary incentives, such as offering a discount on a customer’s next purchase if the customer subscribes to your newsletter.
- Customer club with various benefits
- Creating good enough content that the customer will want and thereby volunteer their email address to you
- Simplify for the customer by offering, for example, a reminder function
- Loyalty programs
Whatever incentives you offer, it is crucial that you collect both data and consent correctly. The cost of collecting data in an unlawful manner can be very high (see mini-course section 5 on GDPR).
The more customer data you collect, the more urgent it becomes to invest in data-driven platforms, something that we at Bosbec offer. This allows you to maximize the benefits of all the customer data collected. Data analysis is, of course, an important part, but so are the processes to take the insights from the data analysis further. This applies to everything from data-driven product development to marketing.
It is important that the solution created is based on how your company wants the process to work and that the solution is easy to change, adjust and improve over time. Don’t make the mistake of buying a system that requires excessive administration and isn’t adaptable to change.See more on how to build loyalty programs.
- Chapter 1: A whole new ball game for sales and marketing reps
- Chapter 2: How do you get new customers?
- Chapter 3: Increase your customer base through three simple steps
- Chapter 4: 50% of your prospects might be useless!
- Chapter 5: Are you prepared to risk a hefty fine for being sloppy with GDPR?
- Chapter 6: Out-compete the competition
- Chapter 7: Digitalize right, not wrong
- Chapter 8: Make sustainability a part of your sale
- Chapter 9: How to build a prospect list despite restrictions
Does automation sound expensive? It doesn’t have to be. Bosbec works with so-called low-code and customizable modular solutions. Check it out for yourself.