Why Customers Buy What They Buy
We’re closing in on the end of 2017 and looking forward to 2018. The Black Friday and Cyber Weekend/Week sales are wrapping up. The early reports indicate that online shopping was way up, as much as 20% over last year, at an all-time-high level.
Lots of purchases were made, countless gifts were bought, and the UPS and Postal Service workers will be very busy over the next few weeks. But why did customers buy what they bought? What actually motivated them to make the purchases they chose to make? What drives them to purchase your product over a competitor’s or vice versa?
To build a successful marketing strategy, it’s important to know the answers to those questions. Effective marketing is about relevance. The better we can respond to and fulfill the needs of a particular consumer, the more effective we will be in driving them to act and make a purchase.
Today, consumers must wade through an avalanche of emails, web pages, social media updates and search results to find the information they want. Consumers expect the companies they do business with to know them, and if we don’t, we risk losing their attention. As marketers, we need information about what consumers want, and why, in order to build a strategy to effectively communicate with them.
Online Market Research and Behavioral Market Research
That’s where behavioral market research and online market research can come in and be very valuable. People make decisions based on what’s important to them. They buy things that fulfill a need. Consumers will often have made the same purchase for strikingly different reasons. Behavioral market research identifies those reasons and establishes audiences based on differences in attitude and purchase motivation.
Behavioral market research identifies what matters. It’s based on how buyers feel and what they want. Behavioral market research sheds light on why consumers have made a purchase, and what other offerings (current or new) might interest them. Understanding what’s relevant and what isn’t allows us to focus on what matters, and not waste time and resources on what doesn’t.
Developing personas can help organizations understand their audiences and ensure they are top-of-mind throughout the development and execution of a marketing strategy and plan, as well as the sales and service cycle. Personas based on demographics alone can leave you guessing about purchase motivations. Thorough online market research and behavioral market research eliminates the need for “guessing”. It directly provides statistically reliable information on what consumer motivations are, allowing you to develop messaging specifically targeted to be relevant to each one.
Strategic planning is the blueprint for building a strong business. Successful marketing begins with a solid strategy based on knowledge and online market research. Understanding who your customers are, what motivates them, and how to reach them will allow you to be relevant to your customers and prospects, maximize your marketing investment, and grow your brand, your sales and your business.