How can businesses survive the tough times by utilizing customer data?

March 12, 2020 Data-driven customer journey

How can businesses survive the tough times by utilizing customer data?

As you know, the new coronavirus, which causes the new disease COVID-19, is a major uncertainty in the global economy. And since businesses are making decisions every day that depend on the economic outlook, choosing the right path forward in this general uncertainty is as hard as it can be.

That is why the Custobar team would like to remind you that now is the perfect time to use your knowledge of the market, utilize your customer data and activate your expertise on your product range.

For some, the inventory situation is getting more tense. For others, maybe the funds usually allocated to social media campaigning are being preserved for hard times to come. Now is the right time to have a close look at how your customers respond to your communications and make sure that you can continue to engage them and turn the resources spent into conversions.

Customer data platforms like Custobar can help you with this by offering the data reporting in daily activities to monitor the situation closely, to run campaigns in the channels that matter and save up on the ones that do not perform.

Push the products you can provide comfortably while keeping the customers up to date concerning the products that may be out of stock in the foreseeable future and warning them proactively when disruptions are to be expected.

This tactical mindset can be the difference between a customer experiencing no disruption in their shopping experience and a customer seeing their relationship to the brand brutally altered by a global event. Preparation and communication are vital.

Now is the time to define a proactive communication strategy and use it. Use your customer data platform to make data-based decisions and a communication plan based on your findings.