Now imagine gathering these types of information, but on a much larger scale. It’s pretty hard. That is why eCommerce stores and retail chain owners need better ways to keep track of customer behavior. And that’s where data collection technologies come in to capture how consumers are shopping and why they make their purchasing decisions. Why Should You Collect Consumer Behavior Data? First of all, to learn how your customers behave, you need to create a 360° view of the customer’s journey.
You start by understanding the types of factors that influence buying behavior. We all know that the broadcast media and social media channels bombard consumers with digital marketing, branding, and content marketing messages to influence consumers. But often, buyers make decisions based on referrals or suggestions from their Denmark Phone Number Data peer group, family, or simply based on their likes and dislikes. Collecting data about the individual consumer, how they make decisions, and why they purchase their products will help marketers create a more satisfying buying experience. And trust us: a lot of it has to do with personalization. Here are a few statistics. 75% of viewer activity on Netflix is driven by recommendation, and 35% of Amazon’s revenue is generated by its recommendation engine. Impressive, don’t you agree? Consumers are obsessed with technology and constantly demand a personalized experience across all communications channels.
In this context, marketers should collect and use consumer behavior data to create better experiences, optimizing all three stages of the customer lifecycle.The acquisition stage, when consumers decide which products to buy and where they will buy them. The engagement stage, that determines what channels and promotions will attract customers. And the retention stage, the process of pleasing customers and converting them into advocates for your brand. How Do You Collect Consumer Behavior Data? Simple. ↳ A customer relationship management (CRM) system collects and stores information about consumers.
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