Gift buying season is upon us. If you’re doing any product research on-line or gift buying on the web, there’s a chance your family members will find out what might be in their stocking. Sharing an Amazon account with your family can be dangerous this time of the year! While you’re enjoying your holiday shopping, online marketers are secretly following your habits and watching what you put in your cart.
Back in the day, advertisers might segment customers based on age, gender, income and where they lived. They used to focus on the who. Don’t get me wrong. It’s important to pay attention to who your best customers are, however, that’s not all anymore.
Big data refers to data that is analyzed to reveal trends and patterns. It looks at a customer’s journey from search to sale. Marketers can use the data to serve ads that may be of interest to the buyer.
Behavioral data is commonly collected from browsing activity, search behavior, app usage and activity, and online purchase and return behavior. You don’t need to be an internet giant to leverage the power of big data and behavioral analytics to take your business to the next level.
A 60-year-old man may watch Schitt$ Creek and a 20-year-old woman may listen to Hardcore History podcast. You can’t make assumptions based purely upon what demographic they fall under. You need to pay attention to interests, behaviors and intentions.
Netflix and Amazon offer a wonderful customer experience. Based on items you’ve shown an interest in, Amazon offers you similar options. Netflix recommends shows you may like based on your behaviors across the web and what you’ve watched previously.
Just how effective are these customer behavior-based recommendation engines? Netflix says 80% of watched content is based on algorithmic recommendations and 35% of Amazon’s sales are generated through their recommendation engine. Steve Jobs said, “a lot of times, people don’t know what they want until you show it to them.” I bet I can find you more than 100 customers who are interested in your product or service today. If you’re not already, I can help you track customers and visitors to your website. We can follow their behavior to see what they like. Once we identify those potential buyers and gather that data, the fun begins! My team can design a laser-focused marketing strategy by using tactics based on individuals’ behavioral profiles. Then we will track data to drive results!