Consumer buying behaviors refer to the actions they take (online and offline) before purchasing a product or service. This includes research on the internet, comparison sites, exchanges between consumers and even on social networks. Taking into account this process for companies is essential, because it allows to develop effective marketing campaigns.
What Is Consumer Buying Behavior?
A customer’s consumption process will involve several stages: desire, needs, information research, reviews, choice of site and finally payment. It is therefore necessary to analyze all the emotional, mental and behavioral reactions of buyers during these stages. Behavior analysis therefore calls on several disciplines, including psychology, economics and UK Email List marketing.
Why analyze the purchasing behavior of customers?
This study of consumer behavior is important because it allows marketers to understand what influences the consumption decisions of Internet users. By understanding the factors that drive a customer to buy a product, businesses can fill gaps in their marketing plan and better meet the needs of prospects.
Behaviors also help marketers know how to present their offer in a way that generates maximum impact on consumers. Understanding the consumer journey is key to knowing when and why the customer decides to buy from you.
What Are the Factors Influencing Consumer Behavior?
Everything can influence a consumer, the rain, the good weather, his mood or the color of the wall. But focusing on these kinds of factors does not yield quantifiable results. To put it simply, there are three categories of factors that lead a consumer to make an act of purchase:
Person-related factors: age, gender, nationality, interests and personal opinions (political, etc.).
Psychological factors: an individual’s response to a marketing message depends on their perceptions and attitudes, the type of message or the way it is formulated.
Social factors: family, friends, level of education, income or socio-professional category.
Categories to influence purchasing behavior
Once you have knowledge of these behavioral factors, you are going to have to choose the most relevant category to influence your target audience.
Marketing campaigns influence decisions a lot. If done correctly and consistently, they can even persuade consumers to buy your products or even change brands. Email marketing campaigns can even serve as a reminder for products / services that need to be purchased regularly, but which are not necessarily on the minds of customers. Good email marketing can influence impulse buying if it occurs regularly and is not spam.
This category plays an important role, especially for expensive products like iPhones or quality speakers. We know that a positive economic environment makes all consumers more confident and willing to make purchases, regardless of their personal financial responsibilities. You will therefore need to know how to target this type of audience if your products are positioned more in the middle or high end.
Consumer behavior can be influenced by the five senses such as taste, touch or sight. In sectors such as fashion or food, these factors are particularly powerful. Effective and well-targeted advertising can of course end up convincing consumers, but the latter will remain influenced by their personal tastes. If you’re a vegan, no matter how many advertisements for hamburgers, you won’t be going to McDonald’s. We can also cite Google, which tested more than fifty shades of blue on the background of its banner ads in order to choose the one that provided a better click-through rate.
The Influence of Society
Peer reviews also influence purchasing behavior. What our family members, classmates, loved ones, neighbors and acquaintances think or do affects our decisions. Social psychology can, in one way or another, shape our behavior when making a purchase. Education level and social factors can have an impact.
The purchasing power
Last but not least, our purchasing power is important in the way it can influence our behavior. Unless you are a millionaire, you need to consider your budget before making a buying decision. The product can be great, the marketing can be great, but if you don’t have the money, you won’t buy it. Segmenting consumers based on their affordability is a great help for marketers to target the right audience and achieve better results in an advertising campaign.