The Four Ps of Customer Behavior
Understanding how consumers behave is key to success in today’s online marketing environment.
Knowing what the needs, wants and desires of consumers are will not only help you better tailor your message, but also your marketing strategy.
With the advent of social and digital marketing, you now have access into the mind and behaviors of your target market.
You can listen, respond and assess in real-time.
But knowing the “why” behind customer behavior can be difficult to learn.
If you’re eager to better understand what drives your customers, the Infographic below from McKinsey Marketing and Sales offers unique insight.
4 P’s of Customer Behavior
Pervasive – “Let me shop wherever I am.”
With over 56 percent of all customer interactions involving more than one social media channel, now is the time to expand your presence.
A multi-channel brand presence allows consumers to interact where and when they feel most comfortable.
This is represented by the fact that 21% of all tablet use now occurs in bed. As a result, brands must increase the ease of online use while still maintaining a traditional or offline presence.
This is augmented by the fact that 52% of Americans user their devices while browsing in-store to research the product online.
Participatory. “I have a voice and I’m going to use it.”
Social media has given consumers enormous power.
The power to choose where and when they interact with brands and the power to voice their enthusiasm or concern.
50% of consumers say they have created content online. Whether this is a comment, article or video, consumers are standing up and requiring that brands take notice.
This makes reviews and testimonials an essential part of your online strategy.
Harness the power of third-party edification and allow your brand enthusiasts to share their love of your business.
Personalized. “Make it relevant to me.”
From website design to customer service, your potential clients are looking for a personalized experience.
While 35% of online buyers say they are willing to share personal information in return for relevant offers, 45% of US consumers say they will abandon an online transaction if their questions or concerns are not addressed quickly.
Whether you’re offering a free giveaway or asking for the sale, ensure that your systems and process support an exceptional customer experience.
Prescriptive. “I’m in control of the shopping process.”
Did you know that half of all shoppers now use their smartphones to check prices while on the go?
On top of that, 65 percent of them delay a purchase due to their experience. Whether they put if off indefinitely or temporarily, the concern is still the same.
Brands must allow shoppers to be in control of their online shopping experience.
How can you better position your website, blog and social channels to welcome customers? And how can you make your shopping or customer service experience seamless?
Putting systems in place to manage expectations is always a win.