In a world of digital disruption and shifting brand loyalty, how can you stay ahead of the competition? The winners of the future will be businesses that understand the emotional drivers of customer behaviour, augmenting this with transaction data to deliver transformational business change.
1. Your customers are not the same. You cannot treat them all the same and expect to win.
When it comes to delivering a data-driven strategy businesses must understand the different motivations of their full base of customers. Most businesses know ‘a lot about a few’ and ‘little about most’ consumers.
2. You have a fraction of the overall knowledge of even your most valuable customers.
Data based on your customers’ previous interactions with you is a tiny fragment of who they are overall. What do they do when not interacting with you? What other brands do they engage with? What do they love, value and believe?
3. Knowing the small selection of items that a customer bought from you in the past, doesn’t help you know what (or if) they will purchase from you in the future.
Transaction data based on when a customer previously interacted with your brand is no predictor of future behaviour. Fashions, trends, influences and behaviour are changing at a breakneck pace. Yesterday’s sale will not predict tomorrow’s behaviour.
4. People tell research panels what they think you want to hear, not what they intend to do.
Claimed data based on small sample sizes is an increasingly discredited way of tracking the dynamic behaviour of the modern consumer. Big data based on millions of people is a far more accurate predictor of behaviour.
5. Using a combination of data sources will help you understand your customers better than anyone else.
Starcount can deliver a full, rich picture based on both your transaction data and what your customers do when they are not interacting with your brand. This information is updated regularly and covers 90% of the UK population, rather than a small sliver of your overall customer base.
6. A pioneered new form of segmentation will reveal your customers’ future intent – through identification of mind-sets and motivations.
We offer true insight into how you can differentiate and segment customers. What is their view of your competitors? What brands do they love? What motivates them? How and when do their desires and expectations evolve? Our time-stamped data also allows you to track the flow of behaviour of customers between brands.
7. Your data tells you what someone bought, but we also measure when and why consumers are motivated and what life-change triggers lie behind the purchase.
The full picture of your customer is only complete with your transaction data’s real value, which is revealed through the emotional triggers behind each purchase. If you understand this you have the power to deliver a trulu data-focused business strategy.
Visit our case studies to find out how others have used our data and insight.