Many Australian SMEs sit on a goldmine of information – their customer consumption data. This isn’t just about sales figures; it’s about understanding *how* customers are using your products or services. Analysing this data effectively can pinpoint clear opportunities to upsell, increasing revenue without necessarily acquiring new customers. We often see businesses focusing solely on acquisition, overlooking the easier wins within their existing client base.

So, how do we turn this data into actionable insights? It starts with looking beyond the initial purchase. Consider these key areas:

• Purchase Frequency & Recency: Customers who frequently purchase, or recently purchased, are prime candidates for related product offers. A customer buying coffee beans weekly might be interested in a higher-grade blend or a coffee machine. We call this ‘behavioural segmentation’ and it’s incredibly powerful.
• Product Combinations: What products are commonly bought together? This reveals natural pairings. If people consistently buy product A *and* product B, promote them as a bundle. This ‘market basket analysis’ highlights cross-selling potential.
• Consumption Levels: For services, or products with ongoing usage (like software subscriptions), monitor consumption. Are customers nearing usage limits? This is a perfect time to suggest an upgrade to a higher tier.
• Feature Usage (for software/digital products): Which features are your customers actively using? If they’re not utilising key features, targeted communication can demonstrate the added value of a premium package that unlocks them.

Don’t underestimate the power of simple reporting. Most accounting or CRM systems can provide basic consumption data. However, for more sophisticated analysis, consider investing in a customer data platform (CDP). These tools integrate data from various sources, giving you a holistic view of customer behaviour. While a full CDP implementation might be a project for 2027, starting with basic analysis now is crucial.

The key takeaway is this: consumption data isn’t just about tracking sales. It’s about understanding your customers’ needs and proactively offering solutions that enhance their experience and, ultimately, boost your bottom line. Your next step should be to schedule a review of your existing data sources and identify one simple consumption pattern to analyse this quarter.