Tuesday, February 28, 2017

Think beyond Big Data - Let's talk Big Data with Survey Analytics

In the last decade, companies have heavily invested in consumer data collection mostly in the form of contact information. This became the greater game of Big Data where companies were, and still are, racing for the top seat where customer information is critical for business growth. This equation was mostly formulated as Bigger Database = More Marketing Opportunity = More Sales!

However, as organisations are recently figuring it out the hard way, that big data alone does not equate to more sales. It is about what you do with this data that matters and we don't mean just marketing initiatives. 

Ask First, Sell Later

One of the biggest blunders committed by companies trying to flex their Big Data muscle is marketing and sales outreach before fully understanding the customer's needs. Often leading to disasters.

Remember the Target Corporation incident when the company ended up outing a girl as being pregnant to her father? They used Big Data analysis to uncover her secret and delivered post-pregnancy product vouchers to her home. The media loved the crisis, but both the girl, her father and Target were in shambles. 

So what could have been an alternative? Perhaps when she left the store the last time a simple survey might have saved the day from the impending disaster? A simple survey question on "what products currently interest you" would have gone a long way rather than definitively sending her proactive vouchers down the mail to their home address.

Prioritising Consumer Feedback and Engagement over Sales Pitch

Like most organisations, if you are planning a sales pitch to your consumer database, first you need to engage them in a feedback-oriented conversation. Asking them a survey question which engages them and gets you a feedback on your brand's products/services hits 2 targets at once :

1. You are able to send a clear message that your company is one that "listens" to its consumers.

2. You get critical feedback on Net Promoter Score, brand perception and opinions from the people who might purchase or have already purchased from your brand. 

Survey Analytics is beyond just survey data. It is about getting the most insights from your survey data using cutting-edge analytics tools and dashboards. 

Sounds interesting? Start your Free Trial now and start communicating with your consumers that ultimately gets you more consumer conversations, more growth-oriented feedback and more Sales!






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