Every SaaS business knows the importance of customer data, but not all of them can utilize the collected data to take advantage of its full potential. You might be surprised to learn the number of possibilities when it comes to using customer data for your business.
I’m here to tell you about these possibilities and offer you something that can be of service to know your customers on a deeper level and predict their actions for future sales opportunities.
The Different User Data Types
According to an article by Userpilot, there are 4 different types of data that will deliver you valuable insights and will be your guide in getting to know your customer better:
- User persona data: This is all who your customers are: their role, their characteristics, jobs, and any other demographic information on the user.
- Customer behavior data: This is about the interactions your customers have with your business. Everything your customers do within your application falls into this category.
- Customer journey activity data: This data gives insight into the path your customers go through, the different stages of being your users.
- Customer satisfaction data: I think this is the most obvious one, it is about how pleased your customers are with the service you offer. Such data includes metrics like CSAT, NPS, and CET.
How to Use the Collected Customer Data
Now that we have laid the groundwork for the subject, let’s see the different ways you can use the collected data to maximize its potential.
First, the data you can see about your users will act as a great guide when you are working on your marketing strategies. You can segment your users based on the data, and create different marketing campaigns and offers for each and every one of them to make sure you provide what they really need and want. There’s nothing better in marketing than thinking with your customers’ heads and presenting personalized offers.
Secondly, this data is extremely valuable for considering future product developments. The way your customers interact with your app, the feedback they give, and the journey they go through tell a lot about what needs to be improved or what they like the most (which can act as a potential selling point in the future for others). You can discover new use cases and new features that you might not have planned by yourself.
In my conversation with Niccolo Massei, Product Data Analyst at Inato, he said:
“I mainly look at user data to:
- drive product decisions, i.e. the data tells us that users from group X display behavior Y, so the product roadmap should be adjusted accordingly to leverage said behavior and achieve our company OKRs,
- monitor the success of new releases, i.e. the latest feature is used by X customers per day on average and contributes to +X sales”
Thirdly, you can improve your customer retention. Once you identify the different drives of your customers to churn, you can act and make improvements to prevent that from happening. If you know which customer segment provides the highest return for your company, you can start focusing on those groups more and meeting their needs and expectations.
Behavioral Data and Its Importance in SaaS
When getting to know your customers, of course, demographic information is really important. As I told you before, it tells you about who your customers are. Behavioral data, on the other hand, can tell you about what your customers are doing.
According to an article by Successeve, behavioral data can help you understand the “what”, “why”, and “how” behind customer actions. Needless to say, the more you know about these interactions, the better you will understand your users and predict their future behavior.
Pierre Lallinec, Data Analyst at Figures, explained: “We do use a lot the app data from our users, to better know the feature they use/don't use, and how they use it. This analysis mainly helps us in:
- Building the right features;
- Evaluating the impact/success of our features and app improvement;
- Creating a customer health score to better anticipate churn & review;
- Preparing customer meetings”
By event tracking, you can store data on, for example, clicks, page visits, form submissions, and feature usages. These events will help you identify patterns and trends. And if you know these trends, you will be able to make predictions about future behaviors. And these predictions will guide you toward better sales, better support, better development, and better business decisions.
How to Track User Data
It all sounds amazing and success-driven that you can do so many things with user data, but your hands are tied if you cannot track them properly.
We, at SAAS First, offer a platform for you where you can easily track and keep your data according to your needs. In our CRM, you can store data on your contacts, the businesses that use your service, and the events happening on your platform.
What is special about our Module is that you can store an unlimited amount of data on each of these aspects, making sure that all information is at your fingertips at all times. There is also no limit to the event types you would like to log and an unlimited amount of data for each of the types.
The possibilities are endless and everything is completely customizable. It is only up to you now what you want to track and see, and what implementations you use based on the data you log.
In conclusion, taking advantage of the different types of customer data - user persona, behavior, journey activity, and satisfaction - is crucial for SaaS businesses aiming to enhance marketing strategies, guide product development, and improve customer retention.
Once you can effectively track and analyze this data, you can gain deep insights into your customers' needs and behaviors. This will enable you to make informed decisions and predict future actions, driving success and growth in your business.
So, what will you use your customer data for?