Customer acquisition is critical to the success of any business.
It can also be one of the most time-consuming and costly challenges an organisation can face, if your acquisition marketing campaigns aren’t accurately targeted.
To pinpoint the right customers without wasting valuable resources, it is essential you understand your target market in detail. This not only requires generic market metrics (such as gender, age, etc.) but most importantly, behavioural metrics.
Behavioural metrics enable you to build a complete picture of your target customers.
By using reliable third-party behavioural analytics in conjunction with your own data assets, you can develop a highly successful acquisition strategy.
Customers don’t do what they say
Traditionally, businesses have relied on market research and focus groups to gain insights about customers. David Ogilvy once said that the problem with this is ‘people don’t think how they feel, they don’t say what they do and don’t do what they say’.
Only behavioural data can uncover actual consumer behaviour.
Behavioural analytics provide deep insights into consumers’ motivations, actions and probable future actions. From this, you can gain a detailed understanding of the challenges consumers face and identify opportunities you may have missed.
And behavioural metrics work.
Research conducted by Gallup analytics found that organisations that harness consumer behavioural data outperform their competitors by 85% in sales growth, and more than 25% in gross margin.1
Behavioural data enables better decisions
With behavioural metrics you can identify common consumer behaviours, which in turn reveal broader motivations and preferences. This information is vital to helping you create the ideal journey for your prospective customers.
Once you have a clear view of the actions and interactions of your target market, you can then refine your products, services and acquisition strategies to meet their needs.
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