This is a guest post for the Aventive Studio blog written by Addisson Shaw.
Just a few decades ago, wellness businesses operated in the dark when it came to the specific needs and desires of their target markets. Nowadays, however, businesses of all sizes have the power of big data to drive more accurate, data-based customer engagement and retention strategies.
Thanks to big data, small businesses can now build full pictures of their customers. Including everything from why they make purchases and why they switch products, to how they like to shop, what they might buy next, and what makes them tick on an individual and collective level.
Handy data sources include classic in-house data like customer service logs and sales data, alongside text analytics, social media data, and large public data sets obtained through censuses, polls, surveys and customer engagement efforts.
Social media has become an especially valuable data source that has made it easier and more affordable for wellness companies to identify niche markets and obtain customer feedback.
‘Big data’ is a term you’ll hear quite often in today’s business landscape, so there’s no question as to whether or not it’s an integral part of operations. However, the real question is this: Does your business know how to harness and use it to its full potential?
Let’s explore how you can use big data to boost your wellness business and further your development strategies.
5 Key Uses for Big Data in the Wellness Industry
1. Sales Automation
Big data could be the missing key to your wellness company’s sales strategies. Sales automation tools use real customer data to assess which marketing and sales strategies lead to higher opening rates and click rates, and which ones produce the fewest unsubscribes and website bounce rates.
You can use a data analysis tool to gather this specific data and use it to alter your strategies based on what’s resonating with your audience at any given time. Google Analytics, Mix Panel, and Crazy Egg are all popular options for small businesses.
Many wellness businesses use sales automation tools that are specifically designed to track sales and development data, instead of focusing exclusively on marketing. This ensures that you can optimize your marketing and sales approaches individually while personalizing every step of the customer journey your brand offers.
2. Social Media Data Analysis
Social media is a goldmine of valuable data, especially for wellness businesses. Just think about it— your target audience probably loves sharing health tips and their favorite wellness brands with their friends and followers. Tapping into these data sources could revolutionize your marketing approach.
One of the many benefits of analyzing social media data is that social platforms produce massive, complex data sets that are innately geared towards assisting businesses to understand their audiences better.
Many social media platforms, including Instagram and Facebook, offer built-in data analysis tools that are incredibly useful in shaping and improving your business development strategies.
Trending topics on social media platforms like Facebook, Twitter, and even Reddit are great ways for brands to keep up to date with the latest developments in the world, and in your specific sector.
Services like Trend Hunter and Trendera can collate data on these latest trends and pinpoint exactly what your customers want, ensuring that your offerings are always relevant and in demand.
3. Building Connections
Another way to capitalize on the many benefits of big data is to use platforms like LinkedIn to build business connections. LinkedIn and its social networking counterparts are driven by big data. Using them to your advantage could enable you to identify, learn about, and contact potential new target audiences and customers.
Big data powered platforms like LinkedIn can also assist in the identification and partnering with other businesses and influencers in the wellness sector. This could further strengthen your marketing prowess.
Speaking of other businesses in your sector, big data is ideal for gathering information on your rivals and how their digital performance and popularity metrics compare to yours. Twitter is a great place to start. You can easily find out how many more mentions your competitors get on the platform and how their conversations with their followers compare with yours.
Remember it has become easier for your competitors to find more information about your business and your customer communication strategies than ever before. It’s impossible to avoid this. But you can stay ahead of the game by keeping up to date on the newest and most effective big data tools available.
4. Scoring Leads Using AI
Artificial intelligence tools spot patterns in customer preferences and behaviors, from their actions on landing pages to their interactions with your brand on social media.
This data helps you to score incoming leads and create risk profiles to determine the likelihood of closing a sale in any given scenario. This approach enables you to allocate leads in an organized way and to handle sales using real world data-based methods.
Big data is also being used more and more frequently to optimize small businesses’ everyday operations. Any processes that generate data, including production line machinery, delivery vehicle sensors, and even customer ordering systems, will produce data that can be used to create additional efficiency in your business’s operations.
For example, you could use social media data, online search trends and other information to optimize stock levels according to data-driven predictions. Additionally, you could streamline your supply chains and delivery routes by using sensors to track deliveries and integrating live traffic data to optimize shipping routes and delivery times.
5. Creating Data-Based Training Programs
Your marketing and sales teams can use big data in their daily tasks, but it’s essential to build valuable data into their own training programs as well. Data can be used to strategically inform your coaching and training efforts to ensure that your staff are equipped to meet company goals and ensure consistent customer satisfaction.
Let’s say that your data shows your customers prefer authentic, friendly communications with sales staff over robotic, generic correspondence. You can train your staff to interact with your customers in a genuine way to keep your buyers happy in the long run.
Data can even assist you in finding successful, qualified, and passionate candidates for your available job openings. You can access data from recruitment sites, social media platforms, personal development reviews and staff satisfaction data to improve your recruitment processes and find the right people for the job at hand.
Making Big Data Work For You
Big data may seem like an intimidating concept, but it’s one well worth studying and understanding. Even small wellness startups can use it to their advantage and improve their bottom lines.
You can start by accessing all the big data we are surrounded by and that other organizations, social platforms, and data analytics tools give us access to.
The size of your business doesn’t matter when it comes to your use of data. You stand to benefit from any implementation you make, be it in your hiring or training processes, your sales funnel, or your customer service strategies.
About The Author
Addisson Shaw is a passionate writer with a background in data science. Her writing focuses on the wonders of technology in marketing and business management. During her free time, Addisson loves exploring the outdoors enjoys going on hikes with her friends.