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    Consumer Behavior

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    Lalit Sharma
    The document discusses consumer behavior and its importance for developing effective marketing strategies. It provides a framework that defines different types of influences on consumer behavior, including individual, group, environmental, and policy influences. It also discusses approaches to segment consumers and measure the effectiveness of marketing strategies through metrics like Net Promoter Score, customer lifetime value, and others. The goal is to help online entrepreneurs better understand their target audiences and consumers to influence exchanges and achieve organizational objectives through strategic marketing plans.

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    Consumer Behavior

    Uploaded by

    Lalit Sharma
    27 views17 pages
    The document discusses consumer behavior and its importance for developing effective marketing strategies. It provides a framework that defines different types of influences on consumer behavior, including individual, group, environmental, and policy influences. It also discusses approaches to segment consumers and measure the effectiveness of marketing strategies through metrics like Net Promoter Score, customer lifetime value, and others. The goal is to help online entrepreneurs better understand their target audiences and consumers to influence exchanges and achieve organizational objectives through strategic marketing plans.

    Original Description:

    How do you go about consumer behavior strategy with an define approach?

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    The document discusses consumer behavior and its importance for developing effective marketing strategies. It provides a framework that defines different types of influences on consumer behavior, including individual, group, environmental, and policy influences. It also discusses approaches to segment consumers and measure the effectiveness of marketing strategies through metrics like Net Promoter Score, customer lifetime value, and others. The goal is to help online entrepreneurs better understand their target audiences and consumers to influence exchanges and achieve organizational objectives through strategic marketing plans.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    27 views17 pages

    Consumer Behavior

    Uploaded by

    Lalit Sharma
    The document discusses consumer behavior and its importance for developing effective marketing strategies. It provides a framework that defines different types of influences on consumer behavior, including individual, group, environmental, and policy influences. It also discusses approaches to segment consumers and measure the effectiveness of marketing strategies through metrics like Net Promoter Score, customer lifetime value, and others. The goal is to help online entrepreneurs better understand their target audiences and consumers to influence exchanges and achieve organizational objectives through strategic marketing plans.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 17

    Consumer Behavior

    Its role in market strategy and influence

    Solutions www.domain.com 1
    Framework

    03 Strategy
    A plan designed to influence
    exchanges to achieve
    organizational objectives 04 Approach
    Defining framework to reach out
    different types of buyers
    (Unconflicted, Tightwads and
    02 Influence
    understanding of consumers is
    Spendthrifts)

    extremely useful for developing


    effective marketing strategies

    05 Insight
    Measuring effectiveness of strategy.
    ROI, Brand Impact, and …..

    01 Importance
    Consumer Behavior is in constant flux
    and has multi dimension impact.

    Solutions www.domain.com 2
    01 Importance
    • Online entrepreneurs don’t always live near their customers. In fact, they might sell to people across
    the world.

    • Entrepreneurs can’t always just shake hands with their target audience members and get to know
    them. Research is often necessary.

    Several factors go into the definition of consumer behavior, including the following:
    •How consumers behave individually and in groups
    •Why consumer behavior patterns change based on the types of products and services they purchase
    •When consumers are most likely to make a purchase
    •How a customer feels directly before buying a product
    •How that customer feels directly following the purchase
    •Which questions or objections contribute to the buying decisions
    •The number of touchpoints a customer makes with a brand or product before buying

    Solutions www.domain.com 3
    02 Influence
    Policy 43% Individual

    Environment
    27% Group

    Group

    17% Environment

    Individual
    13% Policy

    *These percentage will tent to change at regular interval. This is captured and computed at
    given point. This is to be used as reference
    Solutions www.domain.com 4
    Influence Attributes

    Individual Group Environment Policy

    Perception Perception Culture Local


    Learning Learning Subculture administration
    Memory Motives Social Status State Policy
    Motives Emotions Demographics Centre Policy
    Personality Attitudes Recognition Cross-Border
    Emotions Experiences Purchase Process
    Attitudes Outlet Selection
    Experiences
    Lifestyle
    Self Concept

    Solutions www.domain.com 5
    03 Strategy Timeline
    New Product Launch $xxx sales Diversification New Market Identification

    Improve Customer Omni Channel Research Re-Branding Product Launch Refresh


    Service

    Improve Brand Hire head of marketing Environment Impact Social Activity


    / Agency

    Market Dynamics Research and Development Increase Valuation IPO / Stake sell

    Solutions www.domain.com 6
    03 Strategy

    Solutions www.domain.com 7
    04 Approach - Framework

    Solutions www.domain.com 8
    05 Insight
    • NPS Scores (Net Promoter Score)

    •RFM Analysis (Recency, Frequency and Monetary)

    • Customer Lifetime Value

    • Retention Rate

    • Product Return Rate

    • Gross Margin per Customer Type

    Solutions www.domain.com 9
    Real world tools used in
    marketing strategies

    Solutions www.domain.com 10
    Digital Marketing Platform

    Solutions www.domain.com 11
    Implicit Data Explicit Data Email Data
    Geo-location Age Preference Center Messaging
    Search Term Weight Subscriptions Triggered Email
    Platform Gender Messaging Metrics Newsletter Email
    Referrer Brand Preference SMS
    Content Tags Color Push Notification
    Categories Measurements Personalized Content
    Ad Clicked Clothing Size 1:1 Advertisement
    Ad Partner Segmentation
    1:1 Recommendations
    Predictive Intelligence Technology Onsite Recommendations
    Algorithms Mobile Recommendations
    Business Rules Personalized Hero Image
    Automation
    1:1 Messaging
    Wisdom of the Crowd

    Data Feeds
    Inventory
    eCommerce
    3rd Party Info

    Tools
    CMS
    Rule Builder
    Custom

    The Most Complete and


    Flexible Profile Data Set
    Solutions www.domain.com 12
    Salesforce for B2C Marketing

    Mobile Consumer Apps

    Email & Mobile Messaging Connected Products

    Digital Commerce Onboarding & Social Media


    Engagement

    Sales Reps Communities

    Customer Service
    Advertising

    Awareness & Retention &


    Acquisition Advocacy
    Connect the Consumer Experience with Salesforce
    Drive an end-to-end, connected experience across every touch point

    Buys product
    Consumer clicks targeted ad
    powered by Salesforce DMP

    Is directed to commerce experience powered by Receives special offer after


    Commerce Cloud abandoning shopping cart

    Downloads loyalty app Is put on cross-sell journey Is suppressed from ad campaign


    powered by Heroku through Journey Builder via Salesforce DMP

    Joins Customer Community and finds Contacts Customer Support via Live Evangelizes experience on
    fellow hobbyists Message and gets issue addressed Facebook
    Salesforce for B2B Marketing

    B2B Marketing Analytics


    Guided Mobile Apps for
    Selling Marketers

    Sales Force
    Automation Nurture & Budget & Event
    Close Management Apps

    B2B Marketing
    Collaboration &
    Automation
    File Sharing

    Advertising Customer Support

    Build Upsell &


    Pipeline Retention
    Connect the Customer Experience with Salesforce
    Drive an end-to-end, connected experience across every touch point

    Lead fills out form on


    Facebook ampaign Lead becomes scored, graded,
    and nurtured until sales-ready
    Lead gets pushed into
    Pardot + Sales Cloud

    Prospect not yet ready to buy; Rep Sales Rep sees prospect Sales Rep gets real-time
    places them into nurture marketing activity notification of hot prospect

    Personalized marketing content Rep closes deal in Support keeps customer


    is sent to prospect over time following Quarter for life
    THANK YOU FOR LISTENING!

    Twitter
    Twitter.com/buildmanagesell
    LinkedIn
    Linkedin.com/in/lpsharma Lalit Sharma
    Solutions www.domain.com 17

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