Understanding consumer behavior is the key to establishing and building your brand. It’s important to know what your consumers want, how they want it and when they want it.
Before you can do that, you need to know how your users behave; this will allow you to create content that appeals to them and increases their likelihood of becoming a customer or a repeat customer.
The most effective way to understand consumer behaviour is by using a ‘marketing mix’ approach. This is a combination of the 5 Ps of marketing which stands for Product, Price, Promotion, Place and People. Within each of these areas you can find all the answers to the questions you need to know in order to understand their buying decisions.
Understanding what motivates a consumer can help you create a more compelling product or sales message. For example, if you want to sell a new kind of lawn mower that will cut grass at night, you should know that the majority of consumers don’t own a lawnmower and aren’t likely to buy one anytime soon. In this case, one way to address the market would be to focus on the time-sensitiveness of your product versus the availability of other products in the marketplace.
Consumers are constantly making decisions and changing their preferences in response to product and service offerings. Keeping up with shifts in the marketplace requires a keen understanding of how consumers change their behaviour over time.
3 top components to understand consumer behavior
Context
Consumption
Comprehension
1. Context
The context in which a consumer acts is an important component of consumer behaviour. A consumer’s context can be an important factor in determining his or her behaviour. For example, consumers may choose to take a product or service when they encounter it, or when they feel like doing something, such as taking a walk.
2. Consumption
Consumers may decide not to purchase a product because they expect to get another one later; they may take an action once; or they may make multiple purchases or actions within a short time frame.
3. Comprehension
Consumers’ ability to interact with and make sense of available products and services is an important factor influencing their consumption behaviours. For example, consumers may determine whether a product is worth the cost by comparing the price of the same product at different stores, which requires them to have some understanding of price differences between stores.
Understanding consumer behaviour can help you to successfully market your products. It is important to understand how consumers react to different marketing strategies, and identify what works for your business, as well as which strategies are more likely to motivate purchase decisions.
BONUS
The secret to mapping the mind of your customer
1. Identify your target market
What types of customers are most likely to buy your product? By knowing this, you are able to tailor your marketing strategy accordingly. For example, if you are selling a product that is used by women, it would make sense to develop an advertising campaign that appeals specifically to this group.
2. Research previous purchases
Consumers are often motivated by previous experiences with a brand or product. Find out what customers have bought in the past and how they felt about your brand before purchasing your product again.
3. Question the assumptions of your customers
Some consumers will purchase a product because they believe it is part of their cultural or religious beliefs or that it will not be accepted if they don’t buy it. Try these techniques that help you achieve sales goals:
4. Do not try to change customer attitudes
Do not try to manipulate them into buying your products based on cultural stereotypes or other issues unrelated to their needs or wants. It may be necessary for you to ask customers for permission before sending them marketing material related to their religion or culture, but do not use any other tactics that violate customer trust and privacy.
