Friday, 18 November 2016

Catch signals from customers and increase Business

Tips to increase a business are many, some seem to work and some don’t. Possibility of failure also depends upon time and market environment. Some best practices like email marketing, optimizing PPC campaign etc are evergreen but they require resources and investments which some of the businesses intentionally do not opt, may be because of lack of funds or disinterest in initiation.

Small businesses and medium businesses often choose to neglect this and concentrate on their basic or pre defined tactics where they already had invested or is a cheaper option to them.  Such initiations are also considered in advance marketing techniques which are often adopted after traditional methods.

Talking of such technologies which helps in  promoting a business or getting leads, customers can also be seen as a raw source of input where they itself tells you about them. It would be a surprise if we’re talking about it a decade back.

But today we have such technologies which are purely based on human behaviour, choices and can analyze it deeply. Businesses, mostly B2C uses a customer identity management platform which helps them manage them their customer’s identity.

This type of SaaS based platform is highly secure, scalable and robust in use compared to mostly home grown identity management addon.

What we can learn from a Customer Identity Management Platform?
For knowing what we can learn, we first need to understand how a cIAM works. A cIAM platform basically manages user registrations, from signing up to storing and maintaining along with registration management, it also generates insights from customer registrations.

These insights are generated on the basis of user interests, likes and preferences, that means more in depth data to look upon. With this data business can get to know who are their customers and identify ideal customers.

What we can learn from it?

The only few points we can learn is to focus on customer base which are “the one” for business. Customers which suits product or service and focus less on customers which are not ideal but are generating sales.
For example a Male salon who is expert in styling and maintaining male beard, their ideal customers are males above 25 and have beards. They are mainly focused on beard styling keeping hair styling at lower priority.

Upon reviewing their user base they can get to analyze how they can improve more or add something so as to please and attract new ideal customers out of preset resources or by spending fruitful.

Every customer speak for itself, businesses just need to acknowledge it.

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