While there appears to be no end in sight to the tumult of the retail landscape, behavioral science reveals that much consumer behavior is actually durable and predictable. And while behavior is relatively well understood in academic circles, it becomes murkier in the context of marketing science. Here’s how to understand it better.
Fragments derived from alternative data are essential to discover more granular consumer behaviors and lifestyles. This helps build better segmentation models and more appropriate customer journeys that offer delight experiences. Insights on consumer behavior and lifestyle can be gleaned through analysis of installed apps.
Direct-to-consumer (DTC) gives brands the ability to collect and utilize first-party consumer behavioral data to make the shopping experience more personalized, to build loyalty and improve advertising returns. The bigger and more detailed your data store is, the better you can target your core consumer and create repeat purchases.
Converting a one-time buyer into a repeat customer is the single most effective way for many businesses to grow, and one of the best ways to do this is by offering a personalized customer experience. Here are various types of data you can use to personalize your marketing efforts.