What is Consumer Behavior?
What is the importance of consumer behavior in marketing and what is consumer behavior? It is the study of a particular customer, organization or a group on how they choose to buy a specific product. To treat, prepare ideas, goods and services to fulfill the desire their wants and needs. It turns to the effect of the consumers in the commercial world and the fundamental motives for those actions.
Consumer Behavior study factors:
- How consumers analyze and examine different alternatives (brands, products, services, and retailers)
- How consumers conclude and make a choice between different alternatives.
- The behavior of consumers while searching and shopping online.
- How consumer behavior affects by their surroundings (peers, culture, media)
- How the marketing campaigns can be suitable for condition and increase the value to be more effectively influence the consumers.
Aside from knowing the importance of consumer behavior in marketing, the marketers should anticipate the occurrence based on what causes the consumers to buy. Particularly products, goods and services that they would be able to determine. Which particular products are needed in the realm of business. Which are the outdated, and how best to present the products to the consumers?
What is Digital Behavior?
We are in the Digital Marketing era in terms of advertising and the process of consumer determination. When it comes to buying products or services, the changes to the far side of all recognition. User behavior has been streamlined. And today’s business model is a much briefer than in the past, now when a consumer decides they need a product they can surf the internet immediately. Find exactly what they need virtually instantly and make a snap, a buying decision.
The importance of consumer behavior in marketing, brand strategy should bring assets that could help assist and strengthen your brand’s digital behavior. Here’s what to consider.
Look and Feel
A recognizable and emotional effect that resonates across all the platforms. And helps strengthen up awareness, recognition, intensify loyalty and engagement.
– Emotional Impact
Is one of its strongest, and the most reliable assets. Digital outlook and its platforms are continually changing and shifting, but emotions will always appear true.
– Trust Foundation
With the complexity of the digital outlook comes the challenge of overcoming digital doubt. It’s easy to lose out your brand’s philosophy online.
– Authentic Brand
Bring your brand engagement to life through a digital manner that express the promises across every platform. Remember, your promise when determining if the platforms are in a course with your brand.
– Cross-channel Planning
Brand planning always has their eyes on what is next in digital. It is necessary to create a strategic plan on how to use each of the channels. To reach the consumers and how to act cohesively to those channels.
– Brand Influence
A brand is not a shallow thing, it is a living, breathing, engaging, and interacting entity.
– Competitive Analysis
By verifying the identity of your competitors and considering how you line up; your business can sketch out where your brand needs to go.
– Constant Brand Evaluation
Restraining relevant opinions on keeping your digital behavior strategy current.
If you search online takes a matter of minutes or hours rather than days. Dragging around stores and calling suppliers. The reviews are right there at the tip of consumers. The product demos can be considered instantly before making any purchasing decision. The attainability has had a major impact on the standard business model. It no longer follows along the conventional path and becomes a moving target that the Digital Marketing is aiming for.
How Digital is changing Consumer Behavior?
Having information about consumer behavior is one of a very critical Business Marketing strategy. Through intuitive understanding, it allows you to set apart on a particular purpose and plan with your resources accordingly to target more consumers. Probably your ultimate action is to go through the right tools. The right advertisements and the right time targeting your audience.
The actual time and process of taking consumer behavioral data makes Digital Marketing offers timely and relevant. And one of the benefits that help predict the future activity of your target consumer. Is the detailed data gathered from different tools. Those data are going to use by Digital Marketers to provide relevant information, personalize and improve the consumer shopping experience.
There are factors to guide the Marketers in understanding the consumer behavior, that could help them targeting the perfect customers. What are those primary components?
Emotions are one of the factors that the Marketers should target. Campaign strategy should be more appealing to the targeted audience. If it meets their intuitions and attitude in the direction of the consumer’s needs or conditions.
Statistics are also a factor to consider in terms of marketing strategy. This includes gender, age, background, culture, and other personal issues that affects the consumer buying decisions.
People in a community or an organization is also another factor the Marketer should consider when it comes to strategy. Which a person affiliates can influence their buying choice, including family, school, work and social media.
Understanding the way consumers think, allows Digital Marketers to optimize ad spending and make better choices.
Digital Age and Consumer Buying Behavior
Before the beginning of the Digital age. Consumers were not prepared with information about a brand or a product as they are today. Meaning, if a consumer wanted to know more about a specific product. They would need to find and see a good salesperson one that is highly knowledgeable about the product. Unluckily, there are instances where they are greeted by someone who does not really present them quality information.
In-store visits are sometimes still necessary, not all buyers research and transact online. For some, this could be their method of product discovery, after which they will complete the transaction in store.
But today’s technology has transformed consumer buying behavior. As well as the way the Marketers and Business owners do in an attempt to make a profit. It all begins with a single online search with the phrase Near Me. It is probably the most popular search phrase the consumer use to look for products and stores.
Consumer search by Location
Consumers can now learn more about the products and brands. Shop for items online and keep up with the latest trends. In the same manner, customers can post reviews about your company or product, publicly. As a matter of fact, a study shows that 81% of online research. About a specific product were conducted by consumer before making a purchase.
Based on a survey response and the latest report that consumers who bought products or services. Visited a physical store or a website. And using the app before making a purchase, found that
- On average, Canadian consumers visited three digital channels before buying.
- Canadian consumers who conducted at least a single online shopping activity prior to purchase in store is at 61%
- Canadian consumers said that relevant marketing is very important to them is at 64%
- Collecting or use of loyalty points or vouchers within two weeks of taking the survey is at 59%
- And 31% of Canadian consumers are most likely to have visited a social media before they buy. Compared with 30% in Australia, 29% in the US, and 10% in the UK.
When are the consumer seeking information on the internet?
In Need of Ideas
The buyers are aware of the product they need. And they are not sure where they can get one or what their budgets are.
This stage is where the brand, price, specs and reviews come into play. And the buyers are rounding up the of the best.
Ready to Make a Purchase
The buyers have come to a decision, and from here, picks whether or not they will buy the product online or in the store.
What Influences Buying Decisions?
- Reviews are valuable to consumers. 97% of consumers read online reviews before making a purchase, whether it is good or bad. 88% say they believe reviews as much as a personal recommendation from a friend. And 67% admit that the reviews influence their decisions to leave or to buy the products.
- Influencers on Social Media make an Impact. – 50% will be convinced to try a product if the person they like on Social Media use it. 60% would be willing to share their thoughts about a product on Social Media. And 28% of people spend their time on Social Media, use this platform to reach them.
- Excellent customer service experience is invaluable. – 89% of people will stop transacting with a business after experiencing poor customer service. 55% are willing to shell out more cash for better customer support. There is also 70% of purchases are completed based on how the consumer feels during the transaction.
What is the Importance of Consumer Behavior in Marketing? Everybody in an organization, community or even an individual is considered as a Consumer. We have the power to decide, what is based on the content, the presentation and strategy of the Marketers. Consumer we might also rely on our Emotions, Personality and Social perception in making the purchasing decision.
On the Digital Marketing side, they have the right tools on how to target our behavior, our perception. And making a decision aligns with their strategy which could potentially lead to their success and satisfaction of the consumer.
Marketers should try to understand, the importance of consumer behavior in marketing and that they can offer consumers greater satisfaction. And understanding of who and why individuals or groups purchase a product or services. The marketers could be able design their marketing strategy which is more appealing to consumers.
About the Author:
Zaldy is the owner of iShoppeBy e-com website, a Techie guy and an IT / Marketing in his part time job. Like to spend time in front of his Computer, reading and tweaking things on his website.