For your small business to thrive, finding the right customers is vital. Today, many business owners still struggle to find the best strategy for converting their audience to customers. Hence, knowing how to identify customer buying habits is an important part of marketing and growing your business.
Therefore, how do you figure out customer buying habits? This post will help provide answers to that question.
What Are Buying Habits?
The tendencies customers have when purchasing products and services are known as buying habits. These tendencies are influenced by various factors; many of which may seem obvious and irrelevant.
In basic terms, you’ll be able to build a marketing plan that taps into your target customer buying habits and drive more sales – if you identify the buying habits of your customers.
Factors That Influence Customer Purchases?
Two factors significantly influence the buying habits of customers. These factors will help sway customers to purchase your product or service.
Internal Factors
The internal factors that influence customer purchases come from the customer. In other words, the customer wants, needs, and desires are all internal factors that influence purchasing decisions. Internal factors that influence purchasing decisions include boredom, hunger, health reasons, among several others.
Thus, identifying these internal factors will enable you to find your customers that are seeking your product or service.
External Factors
External factors influence customer buying habits outside of individual needs and want. Examples of external factors that influence customer buying decisions include billboards, celebrities, Facebook ads, customer testimonials, among several others.
To summarize, external factors can be used to encourage customer purchase – identify what influences your target customer buying habits, and use it to generate more sales.
Ways To Identify Customer Buying Habits
Highlighted below are ways you can identify customers buying habits:
Track Online Customers
Website analytics can help you track the search queries of customers, and also make you understand what brought them to your website. Knowing what drives traffic to your website can give you valuable insights into the factors that drive sales.
Furthermore, you can also track customers’ in-store behavior using analytics tools. For instance, a Wi-Fi analytics tool can capture the information of customers who have logged into your Wi-Fi network. Thus, it provides you access to customer information such as their device location, and other marketing and sales information.
Make Research On Your Customers’ Social Media Habits
Studying your customers’ social media habits is also essential. Due to the popularity of social media today, most of your potential customers are on one social media platform or another. As a result, knowing the social media habits of people help you identify the wants, needs, and desires of your target audience.
Incorporate Loyalty Program
The use of a loyalty program is another great way to track and identify customer buying habits. Loyalty programs help you build a rapport with your customers and also offer an incentive to get return customers. Therefore, you can effectively sell more products or services to your customers if you know them well.
Conclusion
Having demystified the meaning of customer buying habits and how you can identify it, the next step is to leverage them to reach the right customers. Consequently, you are bound to produce good results if you use this information to hone in on your target audience.
