Research and studies show that the cost to procure a new client is generally five times higher than retaining an existing one. Businesses of all sizes invest a lot of money to acquire new customers. 

Despite this, there have been many instances that companies could not yield the desired outcome after conducting several marketing efforts. They tend to be in a stalemate situation, wondering why it is and looking for a ray of hope.

Now, the question arises – whether there is a way to elevate the business by gauging the loopholes and then work towards betterment?

Most certainly, there is – A pinpoint solution that can pull the business out of this bottleneck state – Big data and Data Analytics can make the customer acquisition processes more effective.

As Steve Jobs rightly says – “Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.”

Companies must focus more on the behavioral-based model in the new digital age with techniques offered by NextBee based on big data. It will help in the following ways:

•  To get an insight regarding buyer persona
•  Understanding the customer journey
•  To optimize and streamline the buyer journey
•  Maximizing the overall lifetime value of the customers
• To understand what personalized actions can trigger your customers

Targeting Customers

Data Analytics offers profound insights into customers’ buying persona. This data can help companies envision future strategies, comprehend customer behavior, and increase ROI.

With the help of Data Analytics, business owners know who their present customers are, predict their future customers, and develop personalized marketing campaigns to target various customer segments. 

This strategy is considered central to the account-based marketing (ABM) plan – ABM uses messaging tailored to the customers. 

This approach yields higher engagement with targeted customers because of the personalized approach.

Improved Customer Experience and Finding More Customers

As business analytics is progressively getting important, marketers must focus more on how data science should utilize new consumer procurement.

Targeting customers with social media posting and learning more about them by analyzing what they like on social media will help your business to grow exponentially.

Customers satisfied with their purchase will spread the message across their network about the satisfying experience. At the same time, they did business with you, which will cause an increase in the number of customers you have.

Big data allows you to gather instant information about your customers’ preferences and behavior so you can always figure out how to meet their needs. Data can show you what is not working for your customers as well; this information can be used when you are making adjustments to your targeting strategy.

Importance of Big Data

Big Data is massive information that needs must run through for in-depth analysis. This vital information is about individuals that companies need to grow their businesses or make decisions about improving customer service. 

Data scientists or an agency that deals with Data Science can extract the information they need. And thereby formulate a business strategy that helps win new customers.  

Many people are using the internet, and data is increasing by many information-sensing devices—for instance, software logs, wireless sensor networks, and radio-frequency identification (RFID).

How can NextBee help companies to acquire new customers with data analytics?

Capturing data, new data storage, visualization, and data source are the key aspects of Data Analytics. With NextBee, companies can leverage the positive outcomes of Big data with its highly effective software. 

It is a pioneer in developing high-end business applications on the SaaS model. 

Conclusion

With Data Analytics, business owners can learn about their competitors and how they are finding success. It also helps in getting more information when data mining and analytic data techniques are applied. As a result, it allows you to formulate an effective strategy for customer acquisition. 

For all these to happen, you need proper assistance from an agency with in-depth knowledge and a proven track record of helping organizations enrich their business and marketing strategies. Here, NextBee comes into the picture.  

NextBee has been in action for more than a decade. We offer dedicated services to our clients, which focuses on Data Science, Data Analysis, and Big Data.  

To know more, feel free to get in touch with NextBee. We will be glad to help you!