24/09/2020 The Importance of Consumer Behavior in Marketing

 DemandJump Blog

The Importance of Consumer Behavior in

Marketing
by DJ Team, on January 24, 2020

Long-term sales stability is not just about having a great product. It's about meeting
consumers' needs, understanding what makes them tick, and speaking to them in the
ways that make them want to engage. In order to do this, marketers turn to a variety of
reports, surveys, and tools to understand one thing - consumer behavior. It's a
marketer's gold. And as we've seen time and time again, those who use it best, and
align their marketing decisions to what the data tells them, are those who win. But
what exactly is consumer behavior, and why does it matter to your business?

What Is Consumer Behavior?

In general terms, consumer behavior is a psychologically-based study of how
individuals make buying decisions; what motivates them to make a purchase. Several
facets of consumer behavior exist, such as:

 How a consumer feels about certain brands, products, or services 

 What motivates a consumer to pick one product over another and why 
 What factors in a consumer's everyday environment affect buying decisions or
brand perceptions and why

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 How consumers make decisions in groups or when they are alone

Multiple factors exist that determine buyer behavior, such as social factors,
psychological factors, and even simply personal factors. For instance, a good
consumer behavior example would be a single mother in her 20s choosing to
purchase an SUV instead of a minivan because of her personal perception of the
minivan being a vehicle for a middle-aged mother.

Why Is Consumer Behavior Important to

Business?
According to a Salesforce report, 76% of consumers expect companies to understand
their needs and expectations. This means that if you don't understand what a
consumer wants before they can tell you, they're probably taking their business
elsewhere.

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Successful organizations build their marketing strategies with consumer behavior

insights as the foundation. They're not generating products and marketing plans based
on their ideas alone; they are bringing external information into the fold to nd out
what customers want and how they want it, then interacting with them accordingly.
This is the essence of creating a positive customer experience (CX), and CX means
everything to fostering a loyal customer-base. Consider this stat from Qualtrics:

 "Organizations that lead in customer experience outperformed laggards on the

S&P 500 index by nearly 80%."

What Is the Role of Consumer Behavior in

Marketing?
As addressed above, the organizations that not only solve, but best communicate that
they solve, real consumer problems are the ones that win in the market today.
Therefore, consumer behavior insights can be used to inform almost all areas of your

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24/09/2020 The Importance of Consumer Behavior in Marketing

marketing strategy. This may include what content you should be creating within your
blogs and other content mediums, the types of stories you tell in your video and
display advertisements, or even how you adjust your product lines to deliver what the
consumer wants.

As an example, let's consider the content your marketing teams could create in the
coming months. If you're a brand that specializes in products for men, you might have
a plan to create a bunch of blogs about gifting for men this quarter. When analyzing
consumer search behavior, you may notice that the phrase “gifts for men on
anniversary” gets a substantially more searches than “ideas for husband anniversary
gift”. This subtle tweak in the way you title and keyword optimize your content could
mean the difference between getting almost 10,000 site visitors or just above 1,000
from this content.

Sources of Consumer Behavior Data for Marketers

Consumer behavior insights can be derived through a variety of ways. They may come
from analytics provided by your marketing or sales platforms, they may be a result of
surveys, or they may come from your own analysis of publicly available data (such as
search engine data). The more you understand your ideal customer, the better you can
tweak your marketing efforts to woo those individuals.

As the world becomes overwhelmingly digitally driven. Many, but not all, components
of consumer behavior can be captured by the analytics provided within the marketing
channels your company already uses. These may include your programmatic display
advertisements, search ads, and website content. In these cases, clickthrough rates,
page views, and site conversion activity can tell you a lot about what consumers do
and don't like, what marketing content works, and what doesn't.

But there's a large amount of consumer behavior data that is outside of a marketers'
readily-accessible view. Such as how consumers are engaging with competitors'
websites - and how those sites' content in uences consumer behavior in-turn.
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Analytics solutions that leverage competitive intelligence in combination with search

behavior data have the ability to guide marketing strategies in a variety of ways.

To conclude, marketers who leverage the power of consumer behavior data

automatically take giant steps forward in their race against competitors to reach their
audience. If consumer behavior is currently driving your marketing strategy, you may
be missing out on important marketing opportunities right in front of you.

If you'd like to see what your target audience cares about, what content they are most
interested in consuming, and how you stack up next to your competitors, request a
free consumer behavior insights report here. 

Topics: Consumer Insights Marketing Management

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