Revenue Growth – Using Your Data to Acquire New Customers

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Posted on:

March 21st, 2024

Posted in:

Insights & Thought Leadership

How are you planning to grow your business over the next 12 months?   

Whatever the strategy, data can accelerate your revenue growth, inform and maybe drive a re-think in your strategy. 

In today’s highly competitive business landscape, there are many different ways of driving revenue growth— data insights should inform and drive the right approach for your business. 

Harnessing the power of data can revolutionise customer acquisition strategies, enabling businesses to identify lucrative opportunities, personalise marketing efforts, and optimise conversion tactics. 

Below we delve into the transformative potential of leveraging data to acquire new customers, exploring actionable strategies and best practices to unlock sustainable growth in an increasingly data-driven world.

Customer Segmentation: Targeting Similar Profiles for Growth

By using data strategically, it is possible to understand existing customer segments & replicate patterns by targeting similar audiences. Enabling tailored marketing efforts to resonate with potential customers who share similar traits and interests.

How well do you really understand your existing customer base and what level of information do you have on customers? 

Identifying Preferred Product Streams Among Current Customers

Driving business growth via existing customers involves understanding their purchasing behaviours across various product streams & optimising marketing efforts and enhancing customer engagement and loyalty.

Do you know how your existing customers buy, are there complimentary products that existing customers should be interested in and are you aware of “white space” with existing customers? 

Finding High-Value Customers for Similar Profile Targeting

Your data holds all of the answers about your most profitable customers and can be accessed through in-depth analysis of their purchasing habits, preferences, and lifetime value. 

By discerning patterns and characteristics shared among these high-value customers, businesses can develop targeted marketing campaigns tailored to attract similar profiles. 

Do you understand who the most profitable cohorts are so you’re growing profitably rather than attracting the wrong kind of customers? 

Granular Detail in Real-Time Reporting to Measure Progress 

Utilising granular real-time reporting enables businesses to measure progress accurately and promptly, empowering informed decision-making and agile adjustments to strategies for driving sustained growth.

Do you have access to high-quality data in real-time, how quickly can you pivot your strategy based on the data?

Automate Targeting of Customers: Optimised with Machine Learning Models or Gen AI 

Automated targeting of customers harnessing the power of machine learning models or Gen AI to analyse vast quantities of data, allowing businesses to dynamically refine their approach based on real-time insights. 

Do you have the data foundations in place to employ Machine Learning models, or do you have a roadmap in place to enable this?

Supporting our customers in achieving commercial outcomes by leveraging their data is our bread and butter at Clekt.  As both data and commercial experts we work with organisations to identify which business outcomes can most quickly be realised through leveraging their data and how to achieve ROI in their investment in data.

Whatever your intended business outcomes this year, we can support you in achieving them through your data.

Leave your details below and let’s discuss how.

Lets work together

To unlock your companys most important asset and find out more about Clekt, please get in touch.