Every marketer knows that understanding consumer needs is critical for business success. More than 30% of consumers will quit doing business with a preferred brand after just one bad experience. Today’s audiences are more conscious about where they shop, partly because they have so many choices available, but also because they want to feel like brands align with their personal values.
Brand loyalty is still very much relevant, but it’s harder than ever to gain in the current landscape. The most successful way to gain loyalty is to get to know your consumers better. How? By researching and understanding consumers’ behaviors, needs, and wants.
What Consumer Behavior Can Tell Us
If you understand consumers’ needs and behaviors, you can offer more personalized experiences. The good news is that consumers are constantly telling you what they’re looking for. Through data, you can see information regarding their behaviors and preferences. For instance, do they research recipes for certain dietary needs? Are they purchasing specific types of alcohol? Have they been enjoying the summer weather?
Studying consumer behavior trends can help you better predict what audiences will do in the future. Historical purchasing patterns of groups and individuals can help you accurately forecast how particular consumers will engage with your brand.
But it’s not enough to simply collect large amounts of data. Your ability to use the data effectively depends on how well you organize it so you can extract actionable insights. Accurate predicting means leveraging historical data alongside temporal data to reveal how a consumer has acted in the past and predict how they might act in the present and future.
How to Use Contextual Data to Craft Personalized Consumer Experiences
Ready to better understand your consumers and create campaigns using predictive personalization? Here’s how you can get started:
- Set clear business objectives
- Determine what data you need and leverage the data you have
- Invest in the right technology
Check out my full article on using contextual data to understand the consumer journey, where I discuss these steps in detail.
Want to leverage AI in your business but aren’t sure where to start? Get in touch with us today!