The past two decades have witnessed a dramatic change in the composition of consumers. Marketers now have to cater to the wide-ranging needs and wants of each consumer group and meet each consumer where they are in the buying cycle.
The role of the contemporary marketer now includes gathering, analysing and filtering through heaps of data to make assumptions or conclusions about customers’ needs and to develop marketing solutions that can meet these needs. Also, without the relevant data, brands would not be able to develop relevant products or position their products to consumers in a way that gives them substantial competitive advantage.
There are numerous metrics you could look at to understand customer pain points but these are 4 of the most important insights:
From websites to chat groups, social media to video streaming and review sites, consumers are leaving behind a large trail of digital data that can be mined to make sense of behaviours and trends.
For many brands, the website is the first point of contact for their customers. The actions visitors take on your site can provide you with plenty of insight into their needs and how well your brand is solving customers’ problems.
Are visitors coming to your website and not spending much time there? It could be problems with user experience on your website or they are simply not accessing enough content to make solid decisions.
Heat map technology is a great way to track how people are interacting with your website pages. Our attention spans are becoming short and if a website visitor is unable to find something to hold their attention, they will move on to another site in as little as 8.25 seconds.
Use tools such as Attensee to see the parts of your website pages that are drawing the greatest engagement and those that are not.
Understanding how users engage with your website allows you to build marketing solutions that nurture consumers toward the bottom of the funnel and eliminating any potential points of friction along the way.
Other web properties such as a YouTube channel or a Facebook page offer you a chance to monitor online behaviour in real time.
Real time interactions are a window of opportunity to understand the “in– the–moment” intent of consumers. This in turn allows you to anticipate future behaviour and to customise marketing solutions that can meet these consumers’ ongoing needs.
For example, if social media listening identifies that people are engaging more with your video content, you may want to spend more time and resources on video marketing efforts to generate even greater engagement.
Demographics are a good set of insights to start with but relying on them entirely can be quite misleading.
In many instances, demographics alone do not give you the inside story of customer idiosyncrasies and behaviours. Instead, demographics only make very broad generalisations and you risk missing key insights about existing and potential customers.
When you know your consumer’s intent, you are able to provide them with the relevant content that helps them make purchase decisions.
“Understanding consumer intent and meeting their needs in the moment are the keys to winning more hearts, minds, and dollars,” says Lisa Gevelber, Google’s VP of marketing.
Simple tools such as Google Trends enable you to identify queries and trends in your niche to see what consumers are looking for. Then, develop the right content so you can leverage those moments of intent when consumers are searching for answers and making purchasing decisions.
Exploring consumer behaviour should not end after a sale. How customers use your products is equally important especially for future product development and improving customer experience.
Quick surveys, feedback and customer reviews can give insights into the type of customer that uses your product, how they use it and any friction points they may encounter when using the product.
Collecting and monitoring data on product usage also gives you insights into the most valuable features of the product and those that may no longer be useful.
Leveraging product usage data can give you a competitive edge and offer opportunities for innovation.
In the digital age, marketers have to contend with consumers who demand quality and whose loyalty can shift at anytime.
Taking time to explore customer feedback is not only good business practice; it is also a vital way to engage customers and find ways to nurture loyalty.
Brand loyalty is the cornerstone for survival in today’s highly competitive marketplace. Econsultancy found that 70% of companies found it cheaper to retain a customer than to acquire one.
Gauging satisfaction, using simple tools such as surveys, allows you to improve customer experience and in turn foster loyalty.
At a time of changing consumer preferences, fast trends, massive peer-to-peer interactions online and increasingly discriminatory consumers, data-driven marketing has taken greater importance. Winning brands are those that are not only mining the mounds of data but are also finding innovative ways to utilise data to truly meet consumers at each point of the buying cycle.