Doing retail means that you get to know a lot of people. And these people come from all walks of life. Meeting them can give you new insights on needs, wants, and brand affinity. Observing them will help understand the things that make them tick.
This is an integral part of consumer insighting. If you know what makes your customers excited and happy, it will be much easier for you to come up with new products or service packages. On top of that, you will find it much more convenient to design marketing communications materials that will help retain loyalty and even gain new customers.
When it comes to this aspect, it is a must that you determine the factors and things that affect the buying behavior of your customers. You may easily do this through surveys and interviews. Regardless, here are some of the things you need to keep mind.
Your Communications
Your marketing communications campaigns have a direct effect on how customers spend. This is why you need to be careful when crafting your communications materials. To make sure that your campaign reaches the right people at the right time, you need to use the available touch points, such as TV, radio, and print. Digital is also a powerful platform, especially if you are looking to tap into unchartered territories, or you are trying to create something viral. Other than the creatives, you will also need to work with reliable media agency to ensure your message reaches your target audience.
Economic Status
The state of the nation’s economy, of course, directly affects the buying decision of your customers. Primarily, this is because the economy dictates the purchasing power of your customers. This is why you sometimes need to align your products’ prices with the current economic condition. Some product developers often come up with new products and solutions designed to complement the needs of a consumer at a given economy.
The Consumer Journey In the Store
This is from a shopper marketing professional’s perspective. You need to keen in mind that consumers tend to be impulsive with their purchase, and this is something that you may want to tap into. With the right store layout and messaging, your customers may be made to buy a few things that are not in their shopping list before they leave the store. With that, you will need to invest in store layout and visual merchandising, which covers supermarket display racks.
Your Customer-Based Programs
Some retailers have programs to retain their customers. These commonly include discounts and loyalty programs that give customers access to more discounts and new products. If you have enough incentives that come with every purchase, you can only expect your customers to buy. This is why you need to come up with smart and easy-to-join promos.
These are only some of the things that affect the buying behavior of your consumers. You can always validate these observations by starting a survey or commissioning a marketing agency to conduct a simple study.
