By Ross Shanken
What is influencing today’s consumers’ online shopping behavior? Where is he or she in their buying cycle? How long does it take them to make a purchasing decision? What factors are they evaluating in order for them to make a product selection? Most would agree that the answers to these questions require insights into consumer behavior. Most would also agree that these insights need to be collected and managed in a privacy-friendly manner that protects the consumer’s personal information and are utilized to serve the consumer’s best interests.
So why should we understand the behaviors of our customer base? Because understanding the audience’s needs, motivators, and purchasing timeline will help us to add relevance to our customer’s buying journey. This is what consumers actually want – relevant communications from the companies they’re seeking to interact with. They don’t want to be accosted with irrelevant communications by marketers who are trying to make their numbers for the quarter at the expense of the consumer’s best interest. By understanding consumer behaviors, we are able to tailor our approach to fit in with their buying behaviors and provide the most relevant communications to them.
As consumers have transitioned to utilizing multiple digital devices, websites, and apps to make purchases, it has become more streamlined for organizations to gather and track consumer interactions and, therefore, are able to provide this relevancy. It’s now possible to gain insights such as:
- The explicit and non-explicit interaction a consumer has with your company and product
- The products and content users find most interesting (based on number of visits/views, level of engagement, etc.)
- The number of times a customer visits your website before making a purchase
- What additional sites they visit for the same or similar products
- The information they consume to help them make a purchasing decision
- How long they are in market, what sequence of patterns are observed before they make a decision
This level of insights provides us a view of the consumer needs with the opportunity to help the consumer along the purchasing journey with relevance. We can even drill down to individual customer preferences, allowing for almost complete customization of marketing touchpoints, messaging, offers and content. This modern ability to curate consumer behavioral data and provide the most relevant communications to consumers allows all participants in the consumer buying journey to benefit:
How Lead Generators Benefit
For lead generators and/or publishers, this means a number of benefits to their business. Lead generators spend a significant amount of effort driving traffic to their websites with the goal of converting it to a qualified lead for their advertisers. The challenge is that a very small portion of their website traffic ever converts into a lead. With the ability to access consumer insights data, the lead generators have better visibility about the person who is active on their website. The more intelligence that they are willing to share with their brand partners about consumer behavior, the more effective the lead generator can be at creating engagement.
Engagement can be the ability to identify the consumers’ implicit needs, leverage Go to the full article.
Source:: Business 2 Community