The average consumer consumes 100,000 words per day online. Of this group, 92% said they want brands to tell a story. The customer story is not the story of how a customer saw your product and then decided to buy it. This is the story of your brand that customers read and then decide whether they want to buy your product or not.
Developing this story is always a tricky process. But data collaboration can help you do it. This guide is going to show you what it's all about.
What is Data Collaboration?
Data collaboration is about bringing together lots of data sources and using the information to come to a conclusion. In this case, you are coming to a conclusion about how to develop your customer story. It sounds relatively simple, but so many companies don't do it.
If you've conducted research on the ground, you should use this information together with the data you've extracted from your analytics tools online. It's the same target audience but in a different format.
So How Does It Help?
There are many ways data collaboration helps with making up a customer story. When you bring it all together, it will inevitably lead to a boost in sales and more engagement with your brand. Here are the main reasons you should be using data collaboration.
More Engaging Stories
To begin with, you can create more engaging stories. One example is Panorama. Their user story managed to radically enhance engagement. It didn't take long before customers were engaging with their brand. Nevertheless, the key is they were also making sales.
By using the data, you are going to get a more laser targeted story based on the idea of encouraging engagement.
Understanding What Your Customers Want
A good story is written to tap into what a certain audience wants. However, you don't know what your audience wants until you look at the data. The more data sources you have to bring together the more targeted your story will be.
There are no general rules for understanding what customers may want. It all depends on your specific industry and niche. This should be an ongoing process because your customer base will change all the time. What worked last year may not be as effective now.
Testing the Story
It's a mistake to believe that once you have your story this is the end of data collaboration. On the contrary, this is only the beginning. There are no guarantees the first story you come up with will work. A month from now you may find yourself changing the entire story because of new insights.
Data collaboration enables you to test the effectiveness of a story. Set a point where your new campaign begins and monitor the results a day, a week, a month from now. Data collaboration will tell you whether it's working or not.
How Data Collaboration Illustrates Other Problems
On the flip side, you also have a scenario where you may have a story you believe isn't working. Without data collaboration, you would change the story. However, if you look closer at the data it may show a huge bounce rate on a specific landing page, or another part of your purchasing platform.
In other words, it's not a problem with the story at all. People are clicking through your ads and content, but they are leaving when they get to the crucial stage. Data collaboration could show that there's a problem with your landing page or buying process.
You wouldn't have found out about this unless you used data collaboration.
Furthermore, there's always a risk of misinterpreting the data. For example, you may see a huge increase in traffic and assume your story was successful. If none of this new traffic led to an increase in sales, though, it doesn't mean anything. Never become over reliant on big data.
Getting Started with Data Collaboration
You can collect data from absolutely anywhere. It doesn't have to be as forward as ordering a survey to be carried out. It can be as simple as looking at the click-through rates of your latest newsletter. Anything that can generate data should be used for this process.
With all this in mind, it's time to take action and start testing out various stories for your brand. The longer you wait the more likely your closest competitors are going to get a permanent advantage over you.
How will you begin using data collaboration to improve your brand's customer story?