Opinion
kbb Birmingham 2018 Show Special
How to… use data to grow your business
Charlotte Graham-Cumming, head of strategy at marketing specialist Varia Solutions, explains what data retailers should be collecting, how they can do so within the law and how they can use it to promote and grow their business
W
ith the new General Data Protection
attention as it’s received in recent months. It has reignited the debate around not only compliance, but also the need for a strategic approach to data.
Key action points Data collection
I’m willing to bet that if you’ve been in business for longer than fi ve minutes, you’ve already got data on your customers. What did they buy? When did they buy it, and what contact details have they given you?
This could be in various places – carbon sales ledgers, on a PC or fi led away in a folder somewhere. The fi rst step in any data strategy is to know what you have. Get all your data combined, either
in a
spreadsheet or a CRM system. See how clean and up-to-date it is – there are tools and services that help with this. Remove anything out-of-date.
Check what the rules are
The next step is to look at how you’ve collected the data, and, as a result, what you’re allowed to do with it. GDPR – and the related e-privacy directive – states that you’re not allowed to contact consumers digitally without their consent. There are other factors that do allow you to contact them, such as in maintenance of a contract, so classify your list accordingly. When you collected consumer information, did you ask if you could contact them about
With the Regulation (GDPR)
laws due coming in to force in May, data has never had as much
advent of Customer Relationship
Management (CRM) systems, then e-mail systems, came ‘big data’ – a fancy-sounding term for the huge amounts of data sitting in spreadsheets, business applications, not to mention old-fashioned business cards and sales ledgers.
Lots of people talk about growing your business using data – but what does that actually mean?
Essentially, if you have the right data, you have more knowledge and insight about your customers. The more you know, rather than assume, the more easily you can engage with them in a more relevant way. If your competitors aren’t doing it, then you have an excellent opportunity to build better relationships with your customers. But to do that, you need a data strategy – and it doesn’t have to be complicated.
your products and services? Do you have a way to track this? If you collect enquiries on your website, do you have a clear way for consumers and trade to opt in or out? This part is likely to throw up some gaps, which should not discourage you – all that’s needed is a plan to fi ll in those gaps. Document what data you would ideally like to get from customers, and how you will manage consent and GDPR compliance going forward. This part may also decimate your current database, but see it as an opportunity to start cleanly, and build up your data once again.
Getting started You’ve combined your data, you’ve cleansed it, you’ve assessed it and you’ve identifi ed what data you’d like to start collecting. Next, you need to get the collection in motion. Again, ensuring you’re compliant, you may need to change contact forms on your website, lead/enquiry forms that you use at trade shows, and the content in your e-mail marketing and direct mail. Look at your catalogues and brochures, too. How could you leverage this channel to collect the data you need?
As well as data collection points, you can also
think about running marketing campaigns to attract the right people.
Think about when you have people on-site –
that’s a great way to collect intelligence about people and add value to them. Make sure it’s all being stored in one place when you get this process under way. It will make life much easier later on.
How to use that data The fi nal step is translating what you’re collecting into insight about your customers, and using that insight to connect more effectively with them. How can you use all that information effectively?
Knowing how customers prefer to be communicated with means they’ll be more responsive. If you gain knowledge around problems and challenges they are having, then give them online guides and content based around solving problems, instead of just selling.
• Charlotte Graham-Cumming will be speaking at the kbbreview Retail & Design Conference, see pages 8-9 for the full programme
44 kbbreview kbb Birmingham Special Edition March 2018
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