How to Analyze Consumer Behavior and Increase Your Revenue (FREE Report)

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How to Analyze Consumer Behavior and Increase Your Revenue (FREE Report)

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Download HubSpot’s Official U.S. Consumer Trends Report [FREE RESOURCE]:

Dive into the thrilling world where commerce meets psychology! In this video, we’ll unravel the not-so-obvious forces that make or break businesses – and it all begins with YOU, the consumer!

Have you ever wondered why certain products fly off the shelves while others gather dust? Let’s explore the psyche of Consumer Behavior, where every purchase decision is a piece of the puzzle that shapes the destiny of companies. Discover why Consumer Behavior is the silent architect of success in your marketing strategy!

🛠 Resources:
• 10 Consumer Behavior Models:
• 4 Biggest Consumer Behavior Shifts of 2023:
• Beginner’s Guide to Customer Behavior Analysis:

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My company Jamal's cookies has a big Problem we have no idea what our Customers are thinking this has led to a Huge decrease in sales and honestly my Boss isn't too happy about It but I've got an ace Up My Sleeve by Leveraging this one key strategy I think I can save my company from bankruptcy It's called consumer Behavior Analysis And by the end of this video you'll Understand how to analyze consumer Behaviors through surveys and focus Groups and leverage those insights to Drive revenue and I'll still have my Job hopefully so let's define what Consumer behavior is consumer behavior Is the study of how people make Purchasing decisions to meet their needs Those decisions are driven by a bunch of Factors like how much disposable income You have how many of your basic needs Are met if this purchase is recommended By a friend or family so with consumer Behavior Analysis you're collecting and Analyzing data on your audience to Better understand why they're hitting That buy button and here's the thing With consumer Behavior it's always Changing our 2023 consumer Trends report Tells you a lot about how customer Behavior is changing everything from Shopping on social media to data privacy Concerns check it out in the description Below for example in 2023 we saw a huge

Increase of consumers preference in Shopping on social media compared to Other channels in May 2022 our consumer Trends report found that only 12% Preferred purchasing product through Social media apps like Instagram shop or Facebook Marketplace this year that Percentage shot up to 41% having these Insights is so valuable to have as a Business because it can impact your Entire strategy now let's get into ways To gather and analyze consumer Behavior Data you can learn from your audience Through surveys focus groups social Media review sites and even your Competitors let's dig deeper into Surveys they're great for two reasons it Doesn't cost much to set one up and you Can can limit your respondents to the Exact audience you're interested in Learning about so at Jamal's cookies we Want to survey our customers most of our Customers are canceling their monthly Cookie subscription which is our main Revenue driver and we can't figure out Why we're pretty confident in the Quality of our cookies so there must be Something else happening we have a few Theories but we'll use the survey to get To the root of the issue so first let's Write up our questions let's select our Audience we're going to send the survey To customers who have purchased from us In the last 6 months pulling that list

From our CRM we're going to navigate to Service then feedback survey and then Click on create survey I'm going to use This template from HubSpot as a jumping Off point for the questions I want to Ask I'm going to ask my audience why are You trying to get me fired no I'm going To ask my audience rate how easy it is To place your cookie order every month Asking that will get me closer Understanding why customers aren't Keeping their subscriptions next I want To ask what's the best and worst wor Part of ordering Jamal's cookies this Will give me valuable insight into what Areas of our customer experience to lean Into more and which ones should be Adjusted I'm also going to ask what do You value most in our product and what Can we do to improve your experience With us to drill down into the customer Experience there's no hard or fast rule When it comes to survey length you can Send out a survey with one question or 100 questions but of course the shorter The list the higher the odds your Respondents will complete the survey From there all that's left to do is Deciding how to deliver our email and When and now we wait for the results I'll see you in a little Bit okay we got our survey results and We finally got some insight into where We were going wrong here are some

Responses to our questions the main Piece of feedback was that our customers Found our order process clunky and Confusing also our customers hated that They had to add payment information in Every time they place an order that's It's a bit of a boo boo now that we know This we can go back to our web and Product teams to optimize our checkout Process with that handled let's switch Gears to another method focus groups a Focus group works by getting together a Group of six to 10 people made up of Your target audience to ask them Questions about your products and Services unlike in a survey with a focus Group you can ask followup questions and Get realtime feedback there are two ways To set up a focus group you can set it Up in internally or work with a market Research company like Gartner ipso or Forester first you have to recruit your Participants start by reaching out to Some of your most loyal customers as They're more likely to agree to Participate you should also include Folks who haven't interacted with your Product but fall within your target Market to find them consider reaching Out to community groups within your Target market for example say you run a Fitness e-commerce brand you could reach Out to a few Community groups for Marathon runners or bodybuilders

Advertising on social media is another Effective and free recruitment method And be ready to offer incentives for Participation this can be in the form of Products or Services gift cards or cold Hard Cash in our case we're just giving Away half eaten cookie bits once you Have your participants it's time to Prepare your questions and discussion Prompts when crafting your questions you Should have a specific goal in mind what Insights are you looking to gain from Your research you could be looking to Understand your customer's motivation For purchasing or you might want to know Why they might choose a competitor's Product over yours knowing your end goal Will shape the questions you ask from There you can organize them on a Questionnaire you can use this template By HubSpot or business makeover make Sure to leave room below each question To take notes based on the feedback from Your participants next appoint a Moderator and an observer notetaker your Observer notetaker will look for major Themes in the discussion and write down Ideas your moderator is there toop drive The conversation and keep folks talking After the session your team should spend The next few days going over the Information you collected and discussing Them this entire process can take Anywhere from a few weeks to months once

You factor in recruiting scheduling and Reviewing if you're looking for a less Timec consuming and zero cost method opt For social listening this involves Scanning social media to find any Mentions of your product and or market And analyze the data whether it's a form On Kora or a comment section under a Tik Tok video this qualitative method may Give you a general sense of consumer Sentiment you might discover issues Customers are having considerations Before purchase and more as a business Owner you might think your value comes From one thing and you find out through Research like this that it comes from Somewhere else you can then readapt your Messaging to highlight the features your Customers love the most the downside of This method is that you may be getting Data from consumers that don't match Your user Persona and there's not a Clear follow-up strategy but it's a good Place to start if you have limited Resources and want to better understand Your audience now if you're looking for Quantitative data analyze things like Your consumer's order history and Interaction with your brand how many Times does a consumer typically visit Your site before making a purchase and When they do what pages do they visit The most how often do they make the Purchases is there a pattern to when

They purchase certain products when you Take all of those valuable consumer Insights and use them to inform your Marketing strategy that's called cons Consumer Centric approach some Businesses take on a product Centric Approach they focus on building amazing Products that will organically attract Their target market companies like apple And Dyson match the subscription with a Consumer Centric model you're putting The needs of your customers first think Of businesses like Trader Joe's and Chewes both approaches can be super Successful and a consumer Centric Strategy puts your customer at the Center which can lead to better results One way to integrate your insights into Your consumer Centric marketing strategy Is by focusing on one insight to create A smart goal say that you discover your Website visitors are bouncing at a high Rate because your blog posts aren't Answering your consumer's questions you Can set the following goal increase Website traffic by 15% in 6 months by Conducting SEO research to identify one Relevant topic cluster and Publishing 10 Articles within that cluster all that is Specific measurable achievable relevant And time B I'm sure you're thinking all This is super cool Jamal but does this Actually translate to real life yes Here's an example that actually blew my

Mind when Proctor and Gamble first Launched for Breeze they thought it Would be an instant hit an odorless Spray that gets rid of bad smells I mean Who doesn't want that you know what I'm Saying and that's the messaging they use In their campaigns one ad followed a Woman's Journey complaining of the smell Of cigarette smoke on her clothing every Time she visited a specific Cafe but Here were some re to say the day yay to The surprise of png's marketing and Sales teams the product wasn't selling The team went straight into research Mode which led to an amazing finding After visiting one consumer's home who Had nine cats and an inability to smell Them that's when they realized why would Consumers want to get rid of a smell They don't even know exists this Insight Was one of the many the marketing team Gained through consumer interviews and Focus groups they updated their formula To include a perfume to the previous Odorless spray and they updated their Messaging to position for Breeze as a Reward at the end of your cleaning Ritual rather than a new step in People's cleaning process and it paid Off their sales doubled and a year later For breze brought in $230 million in Sales so if there's one thing you take Away from this video let it be this First comes the data then the insights

Then the strategy and you can get Started today identify the main channels You use to collect the data from your Audience and keep them open set Check-ins with your team to review Trends and revise your marketing tactics [Music] Accordingly at Jamal's cookies we live To feed people another day without Consumer Behavior Analysis we wouldn't Have been able to find the answers we Needed to give our customers a better Experience and increase our Revenue so Whether you're in the same boat as Jamal Cookies or your company's doing great But you see room for improvement Leverage consumer Behavior Analysis to Jump start your research be sure to Check out our 2020 3 consumer Trends Report which you can download in the Description below and don't forget to Like share and subscribe for more Insightful videos on all of the things You need to do for your marketing game Now if you'll excuse me it's time to Celebrate and until then I'll see you Next Time I can find this client info have You heard of HubSpot HubSpot is a CRM Platform so it shares its data across Every application every team can stay Aligned no out of sync spreadsheets or Dueling day to Bases HubSpot grow Better


Internet Marketing: A Short Guide To Success

An effective internet marketing campaign is vital to the continued health of any business, so it is important that you are aware of how to get the most from your marketing efforts. By taking advantage of the proven tips and techniques in this article, you will be able to market your online business effectively.

Remember to try to test out your internet marketing before you launch it. You may think it is awesome yet the general public may not respond correctly. Or you may have used a word that niche markets no longer consider timely. Or you may have indirectly left out significant keywords. Ask for feedback through compensated crowd- sourcing or simply ask your friends if it is direct and understandable.

If you regularly participate in blogs, your website will inevitably get more traffic. When you participate in blogs, you get more leads, add size and value to your website and increase your visibility on search engines. Blogging is a great way to get more visitors to your real estate advertising site.

Create a blog that gives a rundown of all of the events and news in your company. In your blog, make sure that you include a comments section, which will give your potential clients the ability to inject their input. This could help you gain a better idea of what your client wants and how to improve your product.

Make sure your buying process is simple. Checking out should be a quick and easy event for the consumer. If there are too many steps, or pages take too long to load due to heavy content, a prospective buyer may rethink their decision and back away. Keep everything flashy to a minimum to increase sales.

As you have seen, getting the most from your internet marketing campaign is primarily a matter of education. By knowing how to most effectively market your business on the internet, you can maximize the return from your marketing budget. Just apply what you’ve learned from this article and you’ll see great results.

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