Understanding Online Consumer Behavior Is Essential to a Successful Business
Among the myriad of essential business processes, fully comprehending consumer behavior can be uniquely challenging. While things like budgeting and keeping track of inventory can certainly be complex, effectively anticipating customer needs and desires may seem like an impossible feat to many business owners.
The decision-making process a customer goes through when purchasing an item can be extremely complicated to the outside observer. This can include a number of factors, such as influence from peer groups, product reviews, the price of an item, education level, impulse triggers, etc. Bringing together these diverse factors in a meaningful way can often be the key to enhancing product appeal and increasing sales. Fortunately, studies show that it may be possible make sense of buying processes by taking a closer look at clues left behind by consumers.
The Device Used to Shop Says A Lot
Use of mobile devices during product searches can often indicate an urgency that is not present with other devices. In fact, 70% of those who search for products via a mobile device typically end up making a purchase within an hour’s time. In this case, businesses must create optimum mobile sites for their products or services to best meet the needs of these more-determined shoppers.
Increased Information Leads to Longer Buying Cycles
Thanks to the massive amount of information available, consumers are researching prospective buys far longer than in previous years. This means that buyers who have seemingly abandoned a product often return and continue to make further purchases from the same seller. This points to customers becoming far more savvy in their purchases, requiring businesses to increase both quality of products as well as methods of appealing to customer desires.
Buyers Are More Interested in Solutions That Fit Their Needs
When a customer contacts an online customer services representative regarding a purchase, they are typically farther along in the buying cycle than previously expected. As a result, representatives must counter customer queries with information related to why that particular product will suit their specific needs. Simply reiterating a general list of benefits and advantages over similar products will not do much at this stage, since it’s most likely that the customer has already garnered such information.
How Can Your Business Make Use of These Principles?
While the above info can be extremely helpful, implementing these principles into your business is paramount to best understand buyer behavior. The following actions are vital in this regard:
- Look into the reasons why customer refrain from buying an item on your website via data accumulation
- Implement visitor monitoring tools to track the buying process each step of the way
- Initiate proactive re-engagement processes tailored to those consumers who refrain from buying
- Ensure search and check out process are operating at peak functionality to guarantee customers remain satisfied
Optimize Your Business by Meeting Customer Needs
There is a certain psychology behind the buying process, one that businesses must accurately interpret to ensure success. This includes all levels of a purchase, from the research phase to the efficiency of online customer services functions. Undertaking these procedures with customer psychology in mind can help you optimize current processes, while also catering to the needs of the modern consumer.