How Behavioral Marketing Can Increase Sales

Behavioral marketing is a form of marketing that’s based on how a lead or customer behaves. You can find out how a person behaves through the use of website analytics, search history, browsing history, social media interaction (such as the type of content they engage with or post), web cookies, and more. This type of information can give you much more insight into a lead or customer, which, in turn, gives you the opportunity to target your marketing efforts more effectively. In fact, if you leverage your behavioral data successfully, it can even help you increase your sales. The following are four examples of how behavioral marketing can increase sales:

1. Suggesting Products Based On Purchase History

Looking at what customers purchase can give you an idea of what their needs are and how you can position yourself to meet those needs in the future. For example, if they’ve purchased a certain product on more than one occasion, then you can inform them about any promotions for that product if you have them with a good chance that they will jump on the opportunity. If you release an upgrade or updated version of a product that a customer has purchased in the past, you can inform them about it. You can also use their purchase history to identify ways that you can upsell and cross-sell other items. Many businesses will use ads or send emails recommending products directly after a sale in an attempt to cross-sell.

2. Targeting Leads Based On Product Views

You may notice a lead looking at certain products or services on your site but never going through with the purchase. The fact that they are looking at these products means that they are looking for something specific. If they’ve looked at a product multiple times, then it means they’re likely interested in your specific offering as well. You can encourage them to make the purchase by sending them content that highlights the benefits of the product they were looking at or by sending them a special discount code for that specific product to help give them a push towards making a buying decision.

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3. Targeting Customers Based On Purchase Times

Data that identifies when someone purchases a product can be just as valuable as knowing what the product was that they purchased. For example, if they tend to make their purchases on the weekend, then you’ll have a better chance at reaching them with promotional offers that can spur action on the weekend than during the week. If they only make purchases at the beginning of the month, then you know that this is the best time to engage as well. The same goes for the times at which they make their purchases.

4. Following Up On Abandoned Shopping Carts

There’s nothing worse than an abandoned shopping cart. It means you fell short right before the finish line. The customer may have forgotten to check out (which can happen if they were distracted) or may have had second thoughts. You can use this information to follow up by sending out a reminder that they have something in their shopping cart or by sending an offer to help sweeten the deal (such as a special deal on shipping or a free trial) that can help give them a gentle push them over that finish line.

Behavioral marketing is effective because you’re relying on information you’ve gathered about how your leads and customers are interacting and engaging with your brand. This kind of information makes it easier to act in an effective way. These are just four examples of how the use of behavioral marketing can help to increase sales.

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Using Customer Segmentation To Improve Engagement

Once a lead has made a purchase and has become a customer, your job isn’t over. The most successful businesses are those that turn their customers into repeat customers–and this requires you to continue building the relationships that you’ve already established through regular engagement. However, as your business begins growing, it’s going to become more and more difficult to keep track of all of your customers and to meet their individual needs. To deal with this challenge, you should implement customer segmentation.

What is Customer Segmentation?

The strategy behind customer segmentation involves using the data that you’ve collected on your customers, including the information that they have provided, their general behavior on your website, the way they’ve engaged with you, and their purchase history, to divide them into different groups so that you can effectively target different groups within your audience at a time.

For example, if you sell pet food, then sending out a promotion for new dog food to customers who only own cats isn’t going to be an effective way to encourage them to make another purchase. If you’ve segmented your customers, you can send that same promotion to a customer that actually owns a cat or that has bought cat food in the past.

Customer Segmentation Examples

The following are a few customer segmentation examples to give you an idea of how to leverage your customer data to segment your customer lists:

1. Demographics

You can obtain customer demographic information via surveys and opt-in forms. This information can be helpful for segmentation for a number of reasons. For example, if your business sells a product that comes in an affordable model as well as a luxury model, knowing which customers fall within a high household income bracket will be helpful. Additionally, the way you engage with your audience may differ depending on their age. Certain types of messaging will appeal more to college-aged adults than senior citizens, for example, and they will likely have different pain points as well.

2. Geographic locationlogo design

Segmenting your customer list based on where they live can be very helpful for a number of reasons. First off, you may have store-specific promotions. If you have multiple locations throughout the state or throughout the country, then you’ll want to make sure you’re targeting customers that can actually take advantage of it. Secondly, you may have products or services that are specific to certain parts of the country. For example, you may sell heavy-duty winter clothing. Even if you’re an online retailer, targeting customers who live in warm climates where it doesn’t snow will be ineffective.

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3. Purchase patterns

Knowing when your customers are making their purchases and what they are purchasing can help you segment them into groups that you can target to improve sales even more. For example, some shoppers may be hesitant and may regularly leave products in their shopping carts without checking out. You could send them a special offer or discount code to help encourage them to see the purchase through. Grouping together customers based on when they make their purchases (on the weekend, in the evenings, on certain holidays, etc.) can help you time your interactions more effectively as well.

4. Device used

Tracking what devices your customers used to make purchases or to view products can be helpful in providing the right offers at the right times. For example, customers who are using mobile devices, such as smartphones or tablets, to make purchases are most likely doing it away from work since most people who browse during work hours do so on their computers.

These are just a few ways that you can implement customer segmentation to improve your ability to engage with existing customers using the data you’ve collected on them. Successful customer segmentation will greatly improve your marketing efforts as a result.

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