How Customer Profiling Drives Growth for Your Business
Gain deeper insights into your customers by building rich customer profiles from your first-party data.
For many businesses, understanding their customer base is the biggest challenge. It’s also typically their priority #1 task. After all, knowing exactly what your customers want is the most valuable asset your marketing team can have.
Customer profiling helps solve marketing challenges by:
- Allowing businesses to create a centralized database of all their customers.
- Enabling data filtering and analysis to provide deeper insights that improve marketing strategy.
- Providing enhanced security as data is captured and stored in one place.
Why Do Companies Need Customer Profiling?
Let’s take a look at some of the common problems that customer profiling can help solve.
Lack of customer understanding
Identity and data silos are the biggest roadblocks when it comes to understanding your customers and serving them information that is relevant and engaging to them. With a customer profiling solution, your marketing team can capture user data to build rich customer personas. These personas are then segmented by demographic, interest, or any other data point, allowing you to serve specific customers with information that is more relevant to them.
The core of effective marketing is in relevance. Customer profiling helps solve the issue many business have with wasting advertising dollars in irrelevant marketing.
Marketing inefficiencies
When customer data is not stored in one unified place, manual analysis can sometimes be required to obtain it. It’s even possible that you have to consult your engineering team to help gather the data you need. When your customer data is available at the click of a button, your efficiency improves, helping you drive growth.
Out-of-date data
In the digital world, it doesn’t take long before your data is out-of-date. And using old data leads to incorrect marketing decisions. When customer profiling is combined with the power of social login, first-party data is collected right from the source and updated every time your customer logs in.
Let’s take a look at an example:
- You’re running a marketing campaign targeted at customers in the USA but some members of this audience have moved outside the USA since they provided you with this information.
- If your customer information isn’t updated, you could end up wasting valuable dollars targeting this audience.
BUT
- If your customer registers and logs in with their social profile, the data you collected before would be automatically updated if it has changed.
What You Get from Customer Profiling
We’ve reviewed some of the core problems that customer profiling can solve. Now let’s take a look at the overall benefits.
Centralized data and profile
With centralized profiles you can bring together data from different sources giving you a complete view of the customer journey.
Storing customer data in one place also makes it easier for your marketing teams to segment and analyze your entire customer base, allowing them to make smarter marketing decisions.
The LoginRadius Identity Platform integrates with hundreds of third-party tools, allowing a constant two-way sync of data between platforms to complete your centralized view.
Rich customer profiles
Using first-party data and the power of social login, you can collect valuable information on your customers that is up-to-date at all times. You can even collect custom object data to provide a personalized experience for each consumer.
Centralized security
Manage consent and privacy for your entire database with unified identities, helping to eliminate engineering time and protect your organization by maintaining regulatory compliance at all times.
LoginRadius Customer Profiling
The LoginRadius Identity Platform is built to collect your customer data in one centralized place to make security and marketing a breeze for your organization.
With the LoginRadius Identity Platform, you have complete control over how your customers register and log in to your site and the information that you collect.
With Standard Login (accessing the site with an email address and password) you can select from a catalog of standard fields to capture more in-depth customer information and begin building customer profiles. You can even create your own custom fields to ensure that you collect information that’s relevant to your business.
Social Login allows you to choose from over 40 social providers so customers can access your site with a pre-existing social profile. Each time your customer logs in, their information is updated with their most recent social profile information to keep your database current.
LoginRadius even helps you collect intelligence on your website visitors before they’ve created a profile. By tracking page visits and other activity, you can see the full customer journey from pre-account registrations all the way through to purchase with our Anonymous Login feature.
In addition to standard fields, you can also create custom objects. If you need to collect information on a customer that is specific only to their account, such as purchase history, you can store that in a custom object.
Custom objects are dynamic and will vary considerably between customers. Collecting this data assists with personalized marketing efforts to create a more relevant user experience that keeps your customers coming back.
One of the most valuable features available in the LoginRadius Identity Platform is Progressive Profiling.
Progressive Profiling allows you to collect first-party data from your customers gradually, allowing you to build trust before you ask for too much personally identifiable information. With many people now wary of the ever-growing list of companies that have fallen prey to data breaches, customers are more reluctant to hand over too much sensitive information. Our Progressive Profiling module allows you to decide what information you collect on each visit so you can increase your conversion rate and build customer profiles over time.
With your registration forms set up and data flowing into the platform, LoginRadius makes it easy to segment your customers and feed this information into your marketing platform.
Learn more by downloading the Customer Profiling data sheet.
*** This is a Security Bloggers Network syndicated blog from LoginRadius authored by Coralie Wood. Read the original post at: https://www.loginradius.com/blog/2019/05/customer-profiling-drives-growth/
