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Understanding Customer Buying Behaviors in the Digital Age
Today’s customers are more connected than ever before. Marketing companies looking to study customer buying behavior must analyze multiple digital touch points to understand their motivations, preferences, and purchasing strategies. Hyper-connected customers are inundated with information that informs their wants and needs: smartphones, apps, blogs, web search utility, and data algorithms all make up the new face of the ever-changing digital landscape.
Types of Customer Buying Behaviors
There are typically four types of buying behaviors that influence when and how customers purchase their items:
- Impulse Purchases: These involve little to no planning. This typically happens with easy one-click advertising suggestions for online retailers or can be convenience-based items, such as candy in the check-out lane at a grocery store.
- Routine Purchases: These purchases are those that replenish customers' stock. They reinforce brand loyalty and can be anything from diet-based purchases, food items, to hobby gear. These are habit-formed purchases that customers have developed over weeks, months, or years.
- Limited Decision Making: Decisions informed by word-of-mouth or quick Internet searches. Usually, limited decision making involves items that aren’t huge investments for the customer.
- Extensive Decision Making: Expensive investments involve more research on the part of the customer. For example, When someone is interested in purchasing a new vehicle, he or she will heavily research Consumer Reports or Carfax for the best prices, determine the mileage and features, and will seek other customer reviews and industry reports in-depth. These personal decisions may take more time before money is spent.
Application and Marketing Strategies in the Digital Age
If you do an online search for a travel destination and then notice advertisements for vacation packages on your Facebook news feed, you understand the importance of integrating customer buying behavior into your digital marketing plan. This is the new role of data in predicting customer preferences.
Marketing automation is also a key component to understanding customer buying behaviors. Companies compile data stored from customer purchases to assess their buying habits—everything from brand names to size and color make up a customized algorithm that can potentially help predict preferences.
With marketing automation, companies can suggest other products and services based on the data they collect from website navigation trends. Websites, such as Facebook, can then utilize marketing automation in on-page advertisements, creating highly personalized marketing suggestions as people browse their news feed.
Let Selligent Marketing Cloud Simplify the Process
For companies looking to gain an advantage in customer behavior marketing, look to Selligent Marketing Cloud. We provide marketing solutions for many major brands, including Samsung, Mercedez-Benz, PSA Banque, Wayfair, and more. Our customer-centric approach to business allows for easy, seamless interaction with today’s hyper-connected customers.
Contact Selligent Marketing Cloud today to learn more!