In 2022 data is key to having a business that thrives and grows. Using the data from your website can lead you to formulate a strategy that increases conversion. This is where customer behavioral analytics software like WatchThemLive comes into play.
Knowing your audience helps you predict their behavior and also streamline your sales funnel analysis. Knowing what kind of people are buying your services and products is one of the key cornerstones of a business. Having this info is vital and you can really boost your sales by understanding it.
Use the qualitative and quantitative methods available to you and you will get a better insight into their behavior and what drives their decision-making process.
How to conduct a Customer Behavior Analysis
Divide into segments
You want to identify major groups and demographics that actually visit your website and also purchase your services or products. Deeply understand the differences between the groups that buy the listed things and those that do not. Even basic data from Google Analytics can help you get a good start as to who visits your website.
Also a visitor tracking service provides necessary information. Not only that, but you’ll also find whether your website is being accessed by all devices or not. Usually, mobile usage has been on the rise, so your website should be mobile-friendly too.
What are the selling points?
After you are done dividing your customers into segments, you should do a qualitative analysis and see why they are buying the things. Whether it solved a problem of theirs or it was a spontaneous purchase. Knowing these things will help you identify the selling points of your website and what appeals to your audience.
You can double down on these selling points and focus more on them to increase sales. This is important data that helps you tailor and streamline your marketing content later on.
Get as much data as possible
Once the qualitative data has been obtained, you should get as much data as possible for your business. In most cases, the marketing team will have some data already, but you will need much more from that. Data analytics platforms are great for this but should focus more on customer journey analytics.
This type of customer behavior analysis helps you see how long it takes a customer to buy the listed product or service and how much time it takes them to decide. If industry data is also available, you should have a look at that too. You can then work to make your company stats closer to that.
Customer behavior analysis like this helps you grow your business to new heights. Use website visitor tracking to improve your customer journey.
Use all the data that you have now gathered and see where you lack. Look for trends and other recurring insights that happen on your website. When you analyze these, you will immediately see a few places where you can improve right away.
Also, keep a lookout for repeat buyers as they can help you streamline your strategy even more. See which channels work for which kind of demographics and change your plan according to that.
Make changes accordingly
Now that your analysis is complete, you can start implementing site-wide changes so that you can get the most out of your data. If your data suggests that you have many lurkers, then you can make changes to reduce that kind of behavior. Customer behavior analysis helps you get rid of or reduce unwanted behavior like this.
Customer behavior analysis also helps you understand how your customers make their buying decision so that you can take advantage of that. Customer behavior analysis can help you increase sales and understand how the consumers relate to your product.
With this information, you can focus your brand’s marketing strategy and piston yourself in a favorable way to your prospective buyers.