11 December 2023

12 Important Consumer Data Points Small Businesses Must Gather

By Ronald Smith

Today, I want to talk to you about something crucial for your small business: consumer data. Gathering information about your customers is essential for understanding their needs and preferences so you can provide them with an exceptional experience. Let’s dive into the twelve key data points you should collect.

1. Contact Information

First things first, it’s important to have your customers’ contact information. This includes their full name, email address, phone number, and physical address. With this information, you can easily reach out to them and keep them updated about your products, services, and any promotions you might have.

2. Demographic Data

Demographic data provides insights into the characteristics of your customers. It includes age, gender, marital status, and occupation. Understanding this information helps tailor your marketing strategies and product offerings to specific groups.

3. Purchase History

Knowing what your customers have bought in the past is invaluable. Keep track of their purchase history, including the date of purchase, items purchased, and the amount spent. This will allow you to personalize future offers based on their previous preferences.

4. Website Activity

Collecting data on how customers interact with your website provides insights into their behavior. Monitor which pages they visit, how long they stay, and what actions they take. This information can guide you in optimizing your website for better user experience.

5. Feedback and Reviews

Feedback and reviews give you a glimpse into your customers’ satisfaction level. Encourage customers to share their thoughts about your products or services through surveys or online reviews. This feedback helps you identify areas for improvement and acknowledge what you’re doing well.

6. Social Media Engagement

In today’s digital world, social media is a powerful tool for connecting with customers. Monitor their engagement with your social media channels by tracking likes, comments, and shares. This data reveals which posts resonate with your audience and can guide your content strategy.

7. Email Subscriptions

Keeping an updated list of email subscribers is essential for targeted marketing. Track who has subscribed to your newsletters, promotions, or updates. This allows you to send relevant content directly to their inbox, keeping them engaged and informed.

8. Customer Service Interactions

Record any interactions your customers have with your customer service team. This includes queries, complaints, or compliments. Understanding their concerns or praises help you enhance your customer service and address any issues promptly.

9. Loyalty Program Participation

If you have a loyalty program, keep track of who participates in it. Monitor their points, rewards, and redemption history. This data helps you recognize loyal customers, tailor exclusive offers, and strengthen customer retention.

10. Referral Sources

Knowing how customers heard about your business is crucial for marketing purposes. Find out which channels they used to discover your products or services. This insight helps you focus your advertising efforts on the most effective platforms.

11. Mobile App Usage

If you have a mobile app, gather data on its usage. Monitor the features customers engage with the most and track their in-app purchases. This information guides you in enhancing the user experience and optimizing the app’s functionality.

12. Abandoned Carts

Keep track of abandoned carts on your e-commerce platform. Note which products customers placed in their carts but didn’t check out. Understanding why customers abandon their carts can help you make improvements that reduce the likelihood of it happening in the future.

By collecting these twelve important data points, you’ll gain valuable insights into your customers’ behaviors, preferences, and needs. This data serves as a foundation for making informed business decisions, improving customer experience, and ultimately growing your small business. So, make a plan to gather this information today, and watch your business flourish!

12 Important Consumer Data Points Small Businesses Must Gather

As a business owner, I have access to a gold mine of valuable information about my customers. I can find out how they’re interacting with my social media posts and get their feedback on my products or services. This data is like a hidden treasure that can help me improve the customer experience. The key is to make sure I’m collecting the right data.

Today, I’m going to share with you some insights from 12 members of the Young Entrepreneur Council (YEC) who have some great ideas on the topic. They were asked: What do you think is one piece of consumer data that’s most important for small businesses to collect, and why is it valuable for them? Here’s what they had to say.

1. Email Addresses

Did you know that sending monthly emails to your clients and potential clients is super important? It’s a great way to keep them informed and engaged. You can send them educational materials, announcements, special sales, and more. But the first thing you need to do is make sure you have their email addresses.

2. What They’re Into

Finding out what your customers are interested in is a goldmine of information! It helps you customize your products and content to better meet their needs. Google Analytics has this awesome feature called affinity categories. It automatically categorizes your audience as different personas, like ‘gamers’ or ‘technophiles,’ based on their interests. Take advantage of this feature and shape your marketing strategy around it.

3. Phone Numbers on the Go

If you wanna use text marketing to reach out to your customers, you gotta have their mobile numbers. I recommend asking for this info after they’ve already signed up for your emails. These are the people who are most likely to want text updates. – Chris Christoff, MonsterInsights

4. How People Found You

Whether you have an online store or a physical one, knowing how your customers find you is important. It tells you what marketing strategies are working best. You might notice changes in your sales, but it’s hard to know why until you ask. – Matthew Podolsky, Florida Law Advisers, P.A.

5. What Annoys Customers

As a small business owner, I believe it’s important for us to gather information about what our customers are struggling with. This includes both the facts and figures (quantitative data) and their thoughts and feelings (qualitative data). By conducting surveys and having meaningful conversations with our customers, we can truly understand their needs and wants. This will enable us to market our products and services in a way that resonates with them and keeps them coming back for more.

Once we’re aware of the problems our customers face, we can develop a stronger strategy to grow our business and increase sales. By addressing these pain points, we can show our customers that we understand and care about their challenges, building trust and loyalty. This will ultimately lead to long-term success for our business.

6. Data that Shows How Engaged Customers Are

When it comes to a company’s success, customers are the key. That’s why it’s so important for businesses to gather data on how customers interact with them. By analyzing customer engagement and behavior, companies can gain valuable insights about who their clients are. When small businesses know what their customers want, they can create customized products that meet their exact needs. ~ Neel Kawale, HaĆ¼skey

7. How We Talk to You

Having a thousand email addresses means nothing if all your messages end up in the spam folder. In today’s world, where we have email, text messaging, and different social media platforms, it’s crucial to know the best way to communicate with your customers. Some customers may even prefer to choose how they receive your messages, so they don’t feel overwhelmed with junk mail. ~ Brian Greenberg, True Blue Life Insurance

8. Geolocation

One really important thing I need to know about you is where you’re located. It may sound a bit weird, but trust me, it’s super helpful, especially if you have a physical store. By knowing your geolocation, I can get a better grasp of your demographic and understand the local preferences and needs. This way, I can tailor my marketing strategies specifically for you. It’s like hitting the bullseye every time and can really boost how well my offers resonate with you. Pretty neat, huh?” ~ Josh Kohlbach, Wholesale Suite

9. Recency, Frequency, and Monetary Value

Hey you! If I want to make my email marketing more personalized, I’ve got a trick up my sleeve called RFM analysis. It stands for Recency, Frequency, and Monetary Value. Basically, it’s about looking at how recently you made a purchase, how often you buy stuff, and how much money you spend. By taking all these factors into consideration, I can send you targeted emails that really speak to your interests and needs. To do this, I make good use of my CRM and analytics tools. Trust me, they’re super handy for crunching all this data.” ~ Syed Balkhi, WPBeginner

10. Understanding User Experience

I believe it’s really important to learn about the experience that people have when they visit your website. If your site doesn’t give them a good experience, they will leave and you won’t get the results you want. It’s worth paying attention to how they move around your site, what internet browsers they use, and what links they click.

11. Listening to Customer Feedback

We receive a lot of valuable feedback from our customers, and it’s incredibly helpful. Their feedback helps us identify problems with our service and make necessary updates. Sometimes, our customers discover bugs that we didn’t know about, and their feedback allows us to fix those issues quickly. Additionally, we’ve added new features to our product based on suggestions from our customers. It’s crucial to make it easy for customers to give their opinions and reach out to us.

12. The Key to Making a Purchase