Forget Big Data: Embrace The Power Of Micro Data For Your Business
It sounds almost like an epiphany, “Big businesses need big data”. In the world of big data, all customer interactions are painstakingly collected and stacked. By accessing big data, companies can cover and categorize multiple aspects of their customer behavior.
Having access to big data means that businesses have the ability to understand their audience perspective and consequent positioning of their product. But it can’t get you closer to an actual deal closure or understand the local audience interests. Instead, you end-up with a much broader perspective.
Customer micro data are collected through daily business interactions to engage and sell to your customers in a much better way. Micro Data is the aggregation of all user information that gets collected throughout the customer life cycle.
In-turn, this can give a better understanding and perspective of your audience interests.
In this place, micro data can give you a much better and well-rounded understanding of your audience. It can also cover intricate customer data that are part of each of the customer profiles. This can give you a better sense of collective audience information.
By having all your operations through a single platform, you can automate the aggregation of micro data in remote cloud servers. For understanding the applicability of micro data, you need to understand its diverse aspects and practical utility.
Why is Customer Micro data Special?
In a normal business scenario, you would be simply collecting and managing primary customer data through a single point of exchange. For example, let’s say that it is a set of data regarding customer service or sales front.
By having a process-integrated platform such as CRM, you can keep adding relevant customer information through multiple interfaces. This helps you formulate flexible customer profiles that can include a variety of data sets.
As these data sets are managed through an easy-to-use interface on a CRM dashboard, an authorized user can readily access or retrieve all the relevant user information. These data sets can also be easily projected into multiple business reports and projections. Because of its ease of access and instant versatility, this is known as structured data.
In synopsis, customer micro data lets you create in-depth customer profiles that are instantly accessible and readable.
Benefits of Using Customer micro data
Unlike big data, you can collect micro data without depending on 3rd party data aggregators or customer platforms. You can retrieve any particular data sets through remote cloud servers. In-turn, this helps you formulate and manage your live decision making in better ways.
Gain Traction with Individual Customer Decisions
Having Micro data lets you go far beyond the initial understanding of demographics and lead enquiry. With handling all the customer interactions through a cloud-enabled platform, you could have instant access to multiple threads of communication concerning a particular prospect.
It also gives you specific insights into right channels of outreach, messaging record and meeting patterns and customer budget habits. By focusing on specific information such as primary emails and phone numbers, you can personalize all customer communications.
Hence, micro data could spearhead your customer acquisition and give you traction to influence your prospects purchasing decisions.
Automated Structured Data
CRM platform lets you harpoon your way beyond primary user data such as name, age or buying habits. You can collect data regarding lead source, time, related campaign success, lead cost etc…By coupling data using CRM versatility, you can consolidate and generate multiple relevant reports.
This also enables you to create more informed and data-centric business insights. It allows you to zero-in on the successful parameters among acquired prospects. It also allows you to repeat and maximize your future customer acquisition.
Create much more relevant Segmentation
Traditionally, big data customer segmentation’s are limited to broad characteristics such as Age, Sex or Profession. The CRM microdata allows you to simulate much better customer segmentations that are more relevant to your business.
For example, you can also segment your prospects based on specific marketing channels. This gives you the idea about the relative chances of conversion as per the leads acquired through each channel. With this data in hand, you can determine which 3rd party platforms are more likely to receive a lead.
Create and manage Customer Zones
By integrating cloud with customer accounts, you can automate or manually add new customer accounts to specific customer zones. This enables you to run specific campaigns that are mostly suited to meet specific audience base. It also increases your audience penetration that allows easy inter-communication.
In the context of web, micro data covers multiple data-sets and information that are related to a specific web page. This enables the users and visiting search engine spiders to easily understand the content of a particular web page. Likewise, a CRM-enabled microdata ecosystem collects and consolidates visitor data in easily decipherable form. By understanding each customer, you can gain traction with individual customer decisions and start providing the right incentives.