The benefits of understanding consumer behavior

Consumer behavior has interested researchers for decades; what is the psychology of consumers like before making a purchase? How do they decide that they need to make the purchase? How do they begin their search for a product and vendor? And what are the cultural and social factors that influence consumers’ buying habits?

These are the types of questions that researchers try to answer when studying consumer behavior. Consumer behavior is complex because each person has a unique mindset when it comes to their purchasing pattern. Alongside that, lifestyles and living standards change constantly. That’s why you might look today at something you purchased some years ago and wonder what you were thinking! 

 Understanding consumer behavior makes it easier to make decisions when it comes to your marketing and business strategies. This way, the actions you need to take to keep that potential lead and even turn them into loyal customers become that much clearer. This is extremely important because 90% of people simply buy from the same source that they were comfortable with the first time around, or they make a purchase instinctively. 

To get those same people to consider your product and buy, it means you have to reach people on a subconscious level. You have to affect their thoughts, memories, images, and experiences in a positive way.   

Catering to a Need

First off, the customer needs a reason to buy a product. Whether this reason is valid or not, they need to be convinced that their problem will be solved if they buy your product. Here, you can start asking the client questions and engaging them to understand the motive behind their choices. 

You can also do this by scouring the internet to see what the customers think about your product and other products similar to yours. There is more than one website out there that can offer loads of customer reviews and insight on your target consumers’ behavior. Many websites also offer valuable information about the different tools and strategies you can use for successful digital marketing. Since we are spammed with hundreds of products every day— many of which are a lot of hype over nothing— it is recommended that you understand the potential customer’s need for each product before you proceed to ensure that your digital marketing efforts will pay off.  

Allows you to Understand the Process

Once you have identified your customer’s need or problem, the search for a solution begins. This part of the process is straightforward; if your fridge is busted, you will look for a new fridge, if it’s a laptop that will solve your problem, you will look for a new laptop, and so on. This is when you must be visible to your target customers and position your brand as the ultimate solution to their problem. Working with brand strategy consultants can help you develop an effective plan to reach and engage your audience. 

You need to explain your product or service in an easy and understandable way that is in sync with how people process information and their logic of why they should buy a product.

The Value of Comparing Choices 

Even when buyers see a unique product, they still want to compare it to other products similar to it. They will want to compare everything, from the specs to the price. This helps them reassure themselves that they are making the right choice. 

At this point, it’s important for you to establish yourself as a brand and show your potential customers what you have to offer. It’s just as much about recognizing and removing the possible obstacles that stand between you and the customer— in this case, it’s differentiating yourself from the competition— as it is about branding. 

Sway Purchase Decisions to Your Favor

At this point, your lead is at the brink of buying, but they can still fool you and walk away. This is the most critical step for the marketer because for the buyer, it’s not a done deal yet; they are still deciding which means that you have the chance to change their mind. 

For your marketing and sales teams, it means stepping up your game. You have to do your part to help the customer feel more at ease and secure; remind customers why they wanted to buy this particular product existed in the first place, make sure that your user experience and purchasing process are easy, optimize your website to different devices, etc. In other words, remind them of stage 1 and how the product will help them solve their problem. If the customer walks away, this is the time to adjust your marketing strategies to bring them back. 

Ensure Customer Satisfaction

Just because the deal has been sealed and the purchase has been made, does not mean that your work here is done. Your consumer still needs and expects guidance concerning their purchase, especially when making an online purchase. When will their product be delivered? Is your customer service available to handle any complaints or returns? Is there a manual that explains how to assemble and/or use the product? These are some of the things you should keep in mind to ensure customer satisfaction. Your customers’ needs and expectations matter just as much after the purchase as they do before it..

Utilize Customer Feedback for Future Development

Just because your targeted customer made the purchase and is happily enjoying it right now, does not mean they will remain especially loyal to your brand. Your marketing teams must stay in touch with your current customers, ask follow-up questions, and ensure they are retargeted for other campaigns. 

It’s imperative to take the time to understand each of these factors that influence consumer behavior and work on addressing each one. Your efforts do not end just because a sale has been made. To make your brand stand out, your efforts need to continue to satisfy buyers and turn them into loyal customers. This way, your loyal customers will keep coming back to you and they can even act as your brand advocates, which is the best, most effective type of free marketing today!