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Gaining insight into consumer behaviour
We are leaving behind a trail of digital information from phone records, mobile purchases, text messages, browsing history, social media, our location along with many other trails! As data progressively increases, understanding consumer behaviour becomes imperative to remain competitive. Companies are now in the position to learn more about their customers through the digital footprints they leave behind in this 24/7 connected world.
Since customers use their mobile devices extensively, it makes sense for companies to reach out to their customers through these preferred devices. It is estimated that 60% of smart phone users shop via their mobile devices, 50% percent use their phones to check prices while another 21% use it for product search. Retail companies are turning to big data to help them learn more about their customers, engage with them more effectively and offer more relevance to personalisation.
Patterns and consumer behaviour captured through big data can be put to a multitude of uses. For example, serving ads and e-coupons to mobile users depending on their location and context. Location technology makes it possible to detect if a user is near a particular store and then send details of deals that the store is offering or a personalised ad with an introductory discount. This information could entice customers to step into the store and make a purchase, or at the very least make them aware of the store for the future.
Targeted advertising not only increases revenues for businesses, it also enhances customer experiences, by providing personalised reach to customers. Such personal gestures tend to improve customer engagement and over time lead to loyalty.
More and more businesses are turning to personalisation; this can lead to better engagement and help to build a loyal customer base.
Tapping into the consumers behaviour and tastes, whilst maintaining the right balance between privacy and personalization, can present highly relevant choices that make the purchase decision easier. This is the new era of modern customer engagement.
To find out more about how you can capture this data, contact us on +44 – (0) 203-872-5140 or email us at firstname.lastname@example.org to see how we can help you understand your customers better.
An experienced business leader, heads the UK operations of Silver Touch Technologies Ltd. With 15 years of experience in the industry, he has set the track record of delivering transformation and revenue growth with SAP Solutions.