Behavioral data tells you about the buying behavior of your customers and prospects, and using it can significantly improve your revenue if you make it actionable and use it in a timely manner.
First you need to define your marketing goals, strategies and tactics. In a perfect world you would start by defining your strategy and then get the data you need to accomplish it, but you often begin with the data you can get from e-mail marketing, transaction records and web analytics.
Take note of the pages that visitors view on your website and send them special offers for the products and services they view repeatedly.
Following are four ways you can benefit from the use of behavioral data.
Improve customer retention
Segment your list by those who respond to your e-mail efforts and those who don’t. Next, segment frequent visitors from those who are shown to be visiting less frequently. After that you can target appropriate content and updates to both groups in order to motivate the behavior you want.
Turn prospects into first-time purchasers
Send an email to people who view your website, but aren’t yet a customer, regarding products and services that they’ve showed an interest in through their browsing activity. Make them a special introductory offer if they buy from you in a given period of time in order to create urgency. For instance, “Order today and receive a 40% discount.”
Generate repeat business
Offer companion products to current customers, and sell new products to them as well. Look for opportunities to cross-sell and up-sell products based on their buying behavior and their web page viewing activity on your site.
Use shopping cart information to increase sales
The information you get from abandoned shopping carts can be invaluable. A prospect has just told you that they have a strong interest, but for some reason they didn’t pull the trigger. Use this information to send email promotions with special offers to turn a missed opportunity into a sale.
Keep it simple at the beginning by analyzing transaction history, e-mail open and click-through data and web browsing details. Then you can make queries, do your analysis and segment your data into useful information to help you increase your sales.