When running any business, whether it be a multinational retail chain or a local grocery store, understanding buyer behavior is what makes you understand your customer. Using tools such as market research and questionnaires will help you determine what the customer wants and how they respond to things and this will affect your marketing activities.
The following are examples of how a buyer's behavior may affect your marketing activities:
• Social Media campaigns: In recent years social media has really come to the forefront in business marketing. For example, by having your customers or 'fans' sign up to Facebook pages or follow you on Twitter, you are able to interact with them on a more personal basis. If you have a new product for example you can see instant reaction to it from customers and can even advertise particular deals and services by running competitions on these platforms.
• Pricing: All businesses offer special discounts now and then to get loyal customers through their doors again or even to tempt new customers in. By analyzing how much customers are willing to spend, the types of products that are selling and how often customers are spending, this will help determine your pricing policy. You may think about running more special promotions, or offering special loyalty discounts to repeat customers for example.
The following are examples of how a buyer's behavior may affect your marketing activities:
• Social Media campaigns: In recent years social media has really come to the forefront in business marketing. For example, by having your customers or 'fans' sign up to Facebook pages or follow you on Twitter, you are able to interact with them on a more personal basis. If you have a new product for example you can see instant reaction to it from customers and can even advertise particular deals and services by running competitions on these platforms.
• Pricing: All businesses offer special discounts now and then to get loyal customers through their doors again or even to tempt new customers in. By analyzing how much customers are willing to spend, the types of products that are selling and how often customers are spending, this will help determine your pricing policy. You may think about running more special promotions, or offering special loyalty discounts to repeat customers for example.