Do you know that Google can easily guess about what users are most likely to buy or interested in?
There is no magic, but data mining behind it. It helps professional data analysts and researchers to learn about humanitarian tasks. It’s a part of data science that is used for predicting about anything from what’s going on in the mind of your target audience to what it is likely to invest in.
In the nutshell, data mining services are all about predicting accurately to solve any business problems. In sales also, it has a significant role.
Thankfully, we are living in the era where data rule. We have software & applications to draw useful insights. With these details, we can easily identify consumer behavior patterns. These patterns are, later, used in strategy-making on how to improve sales. For this, it’s really important to increase engagement. Once your audience starts getting interested in your offers, the conversion rate will improve. This is how your profit margin turns better.
In short, data mining-driven prediction is vital.
Metrics to Grow Sales with Data Mining
Here are some really effective metrics that can increase sales and profit using data mining.
- Customers’ Interest
As this process involves data, you need to focus on extract data of the searches. These searches should be related to what your target audience is looking for. This is easy if you run any Google Ad campaign. An e-survey can also help you to collect that insight. If you rely on ads, draw the keywords searches-based information. This is where you need to focus on. Consider those keywords primarily for building your sales copy.
Let’s say, the most used keyword is “how to order a pizza”. Your sales copy can have “Order Pizza in a Click” or “Easy Pizza Booking Online” as a tagline to attract those who are likely to know how to order it. To make it feasible, integrate necessary forms and highly optimized landing pages. Try A/B testing before finally integrating this method.
- Filter Location
The location is ideally required for upping your sales. However, it’s not necessary. But, pinpointing the actual location where your customers are actually coming from makes it easier. Here again, location-based keywords related to your products can guide you better. These are target prospect based on postal codes, city names and regions.
Once mined, you can easily get an idea about which location can get more customers from. Integrate this location with your lead-generation strategy. Create ad- campaigns correspondingly. The chances to have a better conversion rate would be more.
- Measure Delaying Factors
Sometimes, user’s action and a web application’s response to that action can be delayed. This is called latency. Some conditions arise when your customer seems interested, but does not buy. It’s the point needing mining.
A tool called Google Analytics can help you out from this situation. You just integrate a code to set it up and then, the tracking begins automatically. It shows you the customer’s journey and the point he bounced out without purchasing. The reason could be a delay in opening the payment gateway, redirecting to it or any OTP error or anything. You can understand those reasons that impact buying decisions.
This knowledge discovery can help you to improve your web journey and address problems that your customers are facing. The mining of these factors can let you reach the decision to optimize the latency, which later improves sales.
Demographics refer to statistical data representing the population and particular group of it. Here, data analytics can help you a lot. You can check Google Analytics to filter demographic data of the customers. With this, the image of your customers who intend to buy your services or products would be crystal clear. This gives you an idea about what campaign you should start with.
Let’s say, the analytics results showed that the converted audience is 80% women in their teenage of New York. You may setup a demographic campaign specifically for this market and audience. It would certainly attract sales and increase your revenue.
- Customer Engagement
Customer engagement is the biggest factor that improves sales. With any analytics tools, you can figure out engagement factors on your website. These could be your web’s bounce rate, total pages viewed, converted customers’ data and many other likewise things. You could see how things can be improved through this analytics. Prepare some feasible strategies accordingly.
Let’s say, the most of customers use mobile devices to reach your website. Being a mobile unfriendly website, you could not convert leads. Once you come across this metric, the obvious reason of down sales becomes crystal clear. Now, you have all clarity over how to convert them all.
Data collection is the best way to mine feasible solutions for bettering the sales. You can easily mould your digital marketing campaigns accordingly. These insights would be the best way to take your user experience to the next level where sales would be more than ever. This is how you can improve sales via data mining.