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Behavioral marketing is a game changer in business. Businesses can both save a lot of money and make more of it by studying customer behavior and understanding where, when, and how they are likely to spend their money. Big tech companies have become extremely good at this. First, they introduced the infamous cookie, but now they are replacing it with first-party data and device IDs to help you know your audience. Keep reading.
To answer this question, we must answer a more fundamental question: what is behavioral marketing? Behavioral marketing involves using customer data to suggest products and services to them. The data used in this case relates to variables such as how often customers shop, what they buy, how they buy, where they visit, etc. Unlike demographics data, which is simply about the age, gender, or location of a prospect or customer, behavioral data is much more detailed and refined.
Knowing your audience can save you thousands of dollars in marketing costs. E-commerce offers the best behavioral marketing examples to study. For example, if you have visited an online store like Amazon, you'll soon notice that they suggest products based on what you previously viewed or purchased.
In all its glory, behavioral data is useless if it does not lead to a deeper understanding of customers. Understanding your audience is the key to success. Sales hit the roof the moment you start using behavioral data to accurately predict actions throughout the customer life cycle. Here are a few strategies to consider:
This is one of the most advanced segmentation techniques focusing on behavior rather than who customers are. Focus on creating customer groups and personalities based on their browsing patterns, spending habits, and buying habits.
Netflix and YouTube offer the best examples of behavioral segmentation to emulate here. They recommend new content based on what you watched last. Implementing behavioral segmentation can help you identify high-value customers that deserve the most attention.
Recently, Google’s John Mueller warned about overfocusing on metrics. He advised people to create user-centric content instead. But if you want to increase sales, you must have a few customer behavioral metrics to track. Customer data is vital in understanding customer behavior and in user journey mapping.
Examples of customer behavior data to track include the time they spend on your site, their purchase intent (how often they add products to a cart), and their click-through rates on your products and services. This data can help you understand what customers want, how soon, and whether or not your content is moving the needle at all.
Google Analytics, Hubspot, Mixpanel, and others are must-have tools for success in behavioral marketing. These tools can help you automate how you track behaviors such as CTR, time on site, or engagement rates. You can then gain more visibility based on behavior to understand who your customers really are and what they want.
You can gain an even deeper understanding with AB testing. To run an AB test, simply send two or more versions of the same message or offers to the same customers. Then, refer back to GA or any other analytics tool to see which version performs better.
The biggest brands in commerce rose to the top by analyzing customer behavior and then reshaping their businesses based on customer needs. If you want to accelerate growth and profitability with behavioral marketing, use these strategies to understand your customers.
Behavioral marketing is a game changer in business. Businesses can both save a lot of money and make more of it by studying customer behavior and understanding where, when, and how they are likely to spend their money. Big tech companies have become extremely good at this. First, they introduced the infamous cookie, but now they are replacing it with first-party data and device IDs to help you know your audience. Keep reading.
To answer this question, we must answer a more fundamental question: what is behavioral marketing? Behavioral marketing involves using customer data to suggest products and services to them. The data used in this case relates to variables such as how often customers shop, what they buy, how they buy, where they visit, etc. Unlike demographics data, which is simply about the age, gender, or location of a prospect or customer, behavioral data is much more detailed and refined.
Knowing your audience can save you thousands of dollars in marketing costs. E-commerce offers the best behavioral marketing examples to study. For example, if you have visited an online store like Amazon, you'll soon notice that they suggest products based on what you previously viewed or purchased.
In all its glory, behavioral data is useless if it does not lead to a deeper understanding of customers. Understanding your audience is the key to success. Sales hit the roof the moment you start using behavioral data to accurately predict actions throughout the customer life cycle. Here are a few strategies to consider:
This is one of the most advanced segmentation techniques focusing on behavior rather than who customers are. Focus on creating customer groups and personalities based on their browsing patterns, spending habits, and buying habits.
Netflix and YouTube offer the best examples of behavioral segmentation to emulate here. They recommend new content based on what you watched last. Implementing behavioral segmentation can help you identify high-value customers that deserve the most attention.
Recently, Google’s John Mueller warned about overfocusing on metrics. He advised people to create user-centric content instead. But if you want to increase sales, you must have a few customer behavioral metrics to track. Customer data is vital in understanding customer behavior and in user journey mapping.
Examples of customer behavior data to track include the time they spend on your site, their purchase intent (how often they add products to a cart), and their click-through rates on your products and services. This data can help you understand what customers want, how soon, and whether or not your content is moving the needle at all.
Google Analytics, Hubspot, Mixpanel, and others are must-have tools for success in behavioral marketing. These tools can help you automate how you track behaviors such as CTR, time on site, or engagement rates. You can then gain more visibility based on behavior to understand who your customers really are and what they want.
You can gain an even deeper understanding with AB testing. To run an AB test, simply send two or more versions of the same message or offers to the same customers. Then, refer back to GA or any other analytics tool to see which version performs better.
The biggest brands in commerce rose to the top by analyzing customer behavior and then reshaping their businesses based on customer needs. If you want to accelerate growth and profitability with behavioral marketing, use these strategies to understand your customers.
