2. What is Consumer Behavior?
Consumer Behavior is the study of how consumers
make decisions about what they want, desire, or
need
It's also how do they buy, use, and dispose of
goods that they purchase
3. Why Understand Consumer Behavior?
Insight into customers wants/needs
Potential for increased sales
Greater understanding of who your customer is
More Successful Future Product Releases
Better Campaign Impact
4. What Influences Consumer Behvaior?
Personal Factors - A person's own opinions and interets
will effect behavior
Psychological Factors - A person’s ability to comprehend
information, their perception of their need, their
attitude, will all play a part.
Social factors – Peer groups, from family and friends to
social media influence, also includes social class, income,
and education level.
5. How to Track Consumer Behavior
Surveys, Q&As
Focus Groups
Keyword Research, Google Analytics, Google Trends
Twitter Research, Social Media Research
Government Databases
Competitor Analysis
Customer Reviews
6. Surveys & Reviews
It is crucial for a business to read its' own customer's
reviews about their experience at the store or making a
purchase online
Reviews are often public, and permanent online, meaning
that a few bad ones can really stain an image
Surveys are an essential tool at figuring out your
customers' own wants or needs when making a purchase
decision
7. Using Google
Google Trends highlights research activity
Google Analytics analyzes webtraffic
Shows your audience's geography, interets, and
demographcis
Convert these numbers into a practical picture for your
campaign
8. Competitor Analysis
Pi Datametrics, emasures impact of your brand, product,
& performance against competitors after the end of a
campaign
Kompyte, compares traffic, referrals, and visitor behavior
SimilarWeb provides users with info on webtraffic,
referrals, ads, and social media.
Spyfu tracks keywords to see if your competitors overlap
BuzzSumo searces content by keyword into competitor's
URL(s)
9. Consumer Buying Process
1.Problem Recognition: demand requires a purchase
2.Information Search: consumer searches for prospects
3.Evaluation of Alternatives: products are shortlisted
4. Purchase Decision: factor pros and cons
5. Post Purchase Behvaior: either they will like it and
recommend, or dislike and downtalk
10. Selective Retention
Consumers cannot retain information about all things or
messages they are exposed to on a daily basis
There are many companies that counteract this by
providing product brochures or reminder advertising to
stay top-of-mind
11. Key Takeaways
Consumer Behavior is the study of how consumers make
decisions about what they want, desire, or need
It's important to monitor analytics
Reading and responding to customer reviews is crucial
Understanding your customers increases your sales &
business
There are Personal, Psychological, and Social factors that
influence every customer's decision
