Businesses can use qualitative data to improve customer retention as well as acquisition.
Qualitative data can help companies understand context, sentiment and other “intangibles” that quantitative data does not always communicate. But, collecting qualitative data is an involved process that requires more than assessing a set of numbers.
Qualitative data can help companies identify specific issues, solve problems, and eventually give prospects reasons to convert while also giving existing customers reasons to stay. Marketers should start by identifying the main questions surrounding their customer pain points. Then, conduct qualitative research to identify consumers’ perceptions about the brand.
They should look for the customer perspective on third-party sources like customer reviews or industry reports focussed on customer needs and brand performance. They can use these insights to improve their customer acquisition and retention capabilties. It can also help companies improve brand reputation, targeting, messaging and customer experience.
[15 minute read]