If you know how your customers behave, you have won half of the battle. It is essential to know your customer’s buying behavior and expectations to make your business and ventures successful. For instance, if you are running an apparel shop, you need to understand the customer’s behavior including their taste, preference and expectations. It will not be a good idea to sell western clothes in villages, where it is barely in demand. Similarly, selling woolen clothes in warm weather will be worthless. In order to formulate right marketing strategies and target prolific markets and segments, you need to understand customers’ buying behavior.
Most affluent marketers know that understanding the customer’s behavior is essential to succeed in the competitive environment. In the past, it used to be a herculean task to study individual’s behavior using research methods and statistics to get the clear information and formulate marketing strategies based on it.
Thanks to social media. Social media has helped marketers to better understand their customers. Although, social media has not turned it into completely an easy go, but it has made it much convenient and fast to get comprehensive and realistic data and information about the customer’s behavior by using social networking platforms.
Social Media Analytics and customer’s Behavior
Social media platforms have induced the brands and marketers to search for tactics to understand the social behavior of the consumers online. Brands and marketers are nowadays busy in observing and understanding how consumers behave and interact with each other over affluent social networking platforms. Many marketers use semantic analysis to monitor consumer-buying patterns based on content shared and posted by them. Also, social media metrics such as likes/dislikes to your post or page help in knowing what is working for your business and what is not working for it. It also helps to know what customers like and what they don’t. There are also certain advanced algorithms for text mining that act as weapon in your marketing toolbox. It helps to know customer’s exact reaction to your products in different consumer segments.
Social media and marketing decisions
There are many powerful tools used by social media marketers for analyzing the behavior of the customers. These tools are used to gain better insights into industry and target audiences. These tools are helpful for businesses and marketers in many ways:
- Explore the potential customers, customer segments and markets
- Know how customer’s react to your products as well as marketing campaigns
- Know what to sell and where to sell it
- Formulate the right marketing strategies to
- Find the extent to which social media marketing worked for your business
Some of the affluent social media marketers are engaged in tracking, monitoring and deriving insights from social media before, during and after the marketing campaigns to take right marketing decisions and make prolific marketing strategies.
In nutshell, social media may be criticized for declining the quality of interpersonal communication and human relationships, but it has actually proven to be a great source of strengthening the customer relationship and understanding the customer’s behavior.