Online consumer behavior: Discovering critical data to improve your business
In a world where technology and connectivity are constantly transforming how we interact, the challenge for today's brands is to stay ahead of consumers' expectations. How to give them more personalized, more exciting, more meaningful experiences? These are questions that many CMOs (Chief Marketing Officers) constantly ask themselves, and which answers can be found in the critical data obtained by studying online consumer behavior.
Below, we will explain how analyzing online consumer behavior can provide you with meaningful insights that lead to high-impact strategies, as well as the different ways in which you can use such analysis as a resource for innovation.
Uncovering online consumer behavior through critical data
As we know, the in-depth study of online consumer behavior through behavioral data provides critical data to design and adapt effective marketing strategies. This is key to keeping your business relevant in a digital environment driven by constant change and emerging trends. In this sense, the aim is to identify the best opportunities for market growth and build strong, but also genuine relationships with customers.
Some examples of the critical data that a company can obtain through behavioral data are:
Identifying a consumer's browsing patterns by analyzing the pages and websites they frequently visit helps brands distinguish different interests, preferences, and potential needs they may have.
In such a way, the collected information can be used to establish and/or adapt marketing strategies, and even content strategies, so that they are better aligned to what the target audience is looking for.
There's no doubt that an increasing number of consumers prefer to make purchases online due to the convenience, variety of options, and accessibility. Therefore, it is important to understand how consumers access a brand's content, whether through cell phones, computers, or other devices.
By doing so, it is possible to optimize marketing and web design strategies to provide a user experience that is more tailored to their personal preferences.
Another significant insight CMOs can obtain through behavioral data is the analysis of keywords and phrases used by consumers when searching for information online. Specifically, those related to the brand, product, or service promoted by their marketing strategy.
This analysis is important because it allows us to guide SEO (Search Engine Optimization) efforts to create more precise and effective content to attract our target audience.
Online consumer behavior: Behavioral data vs. traditional research methods
Now then, in comparison to data collection through traditional research methods (such as surveys and focus groups, among others), the main advantage of using analysis tools such as behavioral data is that it provides a 360° view of consumers' specific digital activity. That is, their interactions throughout the day, before, during, and after making a purchase or transaction, their communication ways with brands or other people, etc.
This makes it possible to access a large amount of information without bias, subjectivity, or other complications in the research, since, unlike traditional methods, behavioral data does not depend on consumers' memory as they don't participate actively in the study.
Rather, this method is based on observing consumer online activity through specialized research panels. Which have representative samples of different target audiences, who give their consent to share their digital behavioral data.
Beyond numbers: How critical behavioral data makes a difference in business performance
Without question, browsing patterns, search queries, and device usage data are categories that can provide CMOs with the valuable information they need to gain a competitive advantage in the market.
Let’s see how each of these items can positively impact a company's business performance:
Analyzing online consumer behavior is essential to reaching out to consumers. In this sense, as mentioned above, examining customer browsing patterns can provide CMOs with a clear understanding of their interests, preferences, and most relevant behaviors.
This information can then be used to make strategic decisions, such as personalizing product offerings, creating targeted marketing campaigns, and developing content that engages the target audience. In fact, by adapting company strategies to these preferences, CMOs have the potential to improve customer satisfaction and loyalty. All of which can be a powerful differentiator in an increasingly competitive market.
Furthermore, understanding how customers interact with a company's digital platforms (e.g., mobile devices, desktops, tablets) can be useful in developing web design strategies tailored to their preferences and thereby optimizing the user experience.
This can result in increased consumer engagement, as well as increased conversion rates and customer satisfaction. Let's not forget that, in a world where digital experiences have become crucial, offering a seamless and user-friendly experience across devices can be the key for a company to gain an advantage over its competitors. Especially those who do not prioritize this kind of optimization.
Finally, examining search queries that lead customers to a company's website or products is another significant source of information, as it can reveal some gaps in the market, as well as areas in which the company can stand out.
By identifying consumers' most common pain points or unmet needs through search queries, CMOs can develop out-of-the-box strategies to position their company as a leading player in solving those problems. This proactive approach can then be transformed into a competitive advantage, attracting a greater number of relevant customers.
Certainly, the critical data offered by online consumer behavior research has become a key piece in gaining customers' attention and loyalty in a competitive and changing environment. This is by providing them with experiences and solutions that best align with both their needs and their expectations/preferences.
Our cutting-edge technology will allow you to easily get complete information about online consumer behavior, no matter the device(s) on which you are interested in analyzing digital activity: smartphones, tablets, desktops, or laptops.