How Does Consumer Behavior Affect My Marketing Strategy?
Over the last decade, online spending has skyrocketed. Consumers can buy everything they need online, from food to essentials for the home or office. But what makes online consumerism so appealing, and more importantly, what makes us click the checkout button?
The study of consumers in the digital age can help your business improve your marketing strategies by taking a look at some of the reasons why buyers head online to purchase as opposed to going to the store.
Here are a few key factors to look for when creating a marketing plan that influences a consumer:
Understanding of how consumers feel, reason and select products for their use
How consumers are influenced by their environment, culture, media
Behavior of the consumer while they shop
Product importance for the consumer or ranking
These factors may be obvious for some marketers, but taking just one of these ideas and changing the product’s online strategy may prove to change the entire scope of the consumer reach.
Let’s take a look at how these factors can impact your bottom line. Consumers want convenience and the ability to have convenience throughout the entire sale of your product or service. Now if you’re an eCommerce business that offers the newest Bluetooth headset, you’re in a position to sell a significant amount of headsets online. Consider giving the customer what they want, through efficient and tactical marketing. You must ask yourself, “What does the consumer want?” They want the headset, yes, but their online personality also wants a few other things first.
Virtual buyers may first base their decision on how they feel, or the reason they need this product. This is a deal breaker right off the bat if your consumer walks away before they even get to the product specifications. Your marketing must include a reason the buyer needs the product, but more importantly, why they need to buy it online.
Consumers are influenced by their environment. This environment could be a family member who recently purchased a similar headset, a recent traffic ticket for not using a device hands-free, or even something as simple as reading rave reviews about the product.
There are several thoughts on the behavior of consumers while they shop. Some consumers are believed to be information gatherers. This type of consumer gathers all the information they can on the top products in their buying category, and makes a decision based on research, while the others are ready to purchase now. As business owners, we want the “buy now” folks to come to our site immediately, however there is something to be said about the research consumer. This is a point in online marketing where you need to recognize how far into your site the consumer is reaching. If you notice that several of your potential buyers make it to the product details page and then leave, you may have found your next marketing project. Give consumers the information they desire regardless of the type of buyer they are. This will cover all of your bases.
Last but not least is product importance to the user or ranking. Ranking purchases in order of importance is seen more prevalent online, mainly because the product is not in front of the buyer, as it is in a store. Online shopping gives the customer time to pause and think about how much they need your product before they buy. Adjusting your marketing strategy to show the consumer reasons why your product holds significant importance in their lives may increase your earnings.
We’ve all shopped online at one time or another. Marketing to the right consumers is always important, but finding the psychology behind what drives your buyer to purchase your product is essential to your brand. Keep your eyes and ears open to what customers are saying. They are the key to an effective marketing strategy.