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Behavioural marketing

Written by Jvalin Sonawala

27/11/2020

Behavioural marketing is a new way to look at the market. Let us try to understand what is it all about and how to get it started. In the recent past consumer, actions were considered to be fundamental to know the current market trend. The figure out this the marketing team used to check the number of pages the prospective customer visited, and on that basis were the purchasing direction was decided.

It used to be very difficult to arrange pieces of the puzzle to figure out the outcome. But now, behavioural marketing gives a clearer picture of the current customer behaviour.

What is behavioural marketing analysis?

It is a method to derive what the purchasing trend would be targeting leads or customers based on the actions taken by them on the website rather than just pages they have surfed on your website. Marketers use behavioural segmentation by targeting specific consumers based on their actions.

Behavioural marketing does not involve promoting the products through a set of advertisements for the consumer to see, hoping that this attempt derives some marketing strategy. It includes analysing the browsing history, cookies and IPs to frame a profile of the customer and then decorate it with some impressive messages.

In this, the consumers searching pattern is observed closely like which web pages he visits, browses which products, goes through the details of which discount offers etc. Watching this gives the marketers precise information regarding which consumer will be interested in which types of products. Of course, this is a continuous process as the trend keeps on changing.

Behavioural marketing comprehends a mix of marketing strategies which includes promoting new products to existing customers, suggesting products on the websites, sending regular updates via emails and posts.

Whenever you are surfing on Facebook or any other social media, you must have noticed that you keep getting posts for the products you have already purchased or viewed again and again while surfing. It is being encouraged both by Google and Facebook in their advertising platforms. Your marketing team needs to decide which audience you want to target and with which options.

You have options to enable Ad based retargeting in Google and retargeting on Facebook. Once required setups are done next step is to strategise the ad campaign and the target customers. Create ads which impress the set of customers. You will be coming across numerous instances where the customers might have added the product in there but have not clicked purchase. These are customers of the highest prospects; the maximum benefit of remarketing can be earned here.

Listed below are some examples of behavioural marketing

Wonderly:  It is an award-winning independent technology and a publishing business that provides personalised children’s picture books. It has become utmost popular due to its impossible personalisation and wildly imaginative ideas for children’s book. It got immense popularity during lockdown targeting your near ones and sending personalised books of remembrance.

Best Buy: This retargeting technique reminds you of the items lying in your cart and some sales promotions mixed with it. They give you a price match guarantee, free shipping, additional weekend discounts etc. It becomes a handy option wherein the chances to increase sales are relatively high.

Segmented email marketing: In this method, the audience is segmented based on the pages they have visited on the website or items they have added items to the cart or subscribed to your channel. This option gives a personal touch to the customer by making that they are valuable to their Company.

Nordstrom: It is another method linked to the cart items. It helps you go directly to go to the cart items. It is a cart recovery which can be even improved by adding the option to chat with the customer support or call so that the decision of final purchase is not further delayed.

Birchbox: It often happens; tired with end number of mails customers tend to unsubscribe. Try to retain the customer who has unsubscribed from the birchbox service by offering him some additional discounts for re-subscribing.

Suggested marketing: This is a prevalent technique mainly used by Companies like Amazon, Godiva etc. Suggesting selling suggesting larger/better/similar items things you have already bought or sent to your cart. Like if you have purchased a mobile phone, you will be getting suggesting to buy a cover, headphones etc. This can be termed as extended behavioural marketing wherein you do not intend to discourage to buy an alternative product or try to divert his purchase, but to suggest him with some additional options which are bought along with it which are needful and useful too.

Conclusion: I hope that you might have got a more precise understanding of what is behavioural marketing, what are the tools and methods to use them. There is no set rule as to which technique will give you satisfactory results. First of all, make a marketing plan suitable for your product and budget. Use Plan A or B on different behavioural segmentation and keep a check on the customer responds. Soon you will start noticing an upward trend in the sales figures. Do not rush using all the tools at the same time. Take some baby steps initially and then go for more significant measures to reap the fruits of success. Marketing and customer behaviour has to move parallel due to ever-changing trends, needs and economy of the country. Every marketing plan has to be designed, keeping in mind all the consequences which might emerge due to changing purchasing power and trends of the customers. One who catches hold of his customers temperament has the least chances of failure in marketing and sales.

 

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