Predicting customer behavior using data is a powerful approach for marketers. Predictive behavior marketing is a new approach to marketing that uses data to predict customer behavior. By predicting what your customers will do, you can market something way before they even know they want it.
What Is Customer Behavior Prediction?
Customer behavior prediction is a way to predict the next best action that a customer will take based on their past behavior. This can be used for both online and offline businesses. Turning big data into useful data helps businesses understand their customers better than ever before, allowing them to make better decisions about how best to market their products or services online through websites like Facebook or Google ads.
Customer behavior prediction can be achieved in several ways:
- Collecting consumer data overtime
- Analyzing consumer behavior data overtime
- Predicting customer behavior based on social media profiles
How To Collect Customer Behavior Data Overtime
The best way to predict what your customers want is to understand how they already use your products or services. You can do this by collecting and analyzing customer behavior data over time. This is the most important step in the process of predicting customer needs.
- Track using Google Analytics
- Monitor social media activity
- Set up custom reports that track conversion rates
- Collect open rates for all emails
- Analyze behavior over time to understand trends
Why Is Prediction Important?
Predicting is important because it can help companies improve their business strategy and increase profitability by understanding their customers better. It’s also useful for marketing and advertising purposes because companies can easily tailor their ads and content based on what their customers want or need at a particular time.
Here are three key consumer behaviors that you can predict it using data:
Economic condition (personal finances)
People tend to spend more when they are in a good financial condition. On the other hand, when they are in a bad economic condition, they tend to spend less or even stop buying altogether. Turning big data into useful data.
Decision fatigue (too much options)
People get tired of making decisions, especially when there are too many options available for them to choose from.
Variety-seeking buying behavior
1st search may not always be what they want, so they dig through the internet to find what they want eventually).
If you don’t have enough data about consumer behavior, then you can’t predict these needs before they appear on the market (or even worse – after they appear).
7 Tools Major Online Businesses Use To Collect Data For Prediction:
Google Analytics helps you track user behavior on your website to understand what makes people visit your site, how long they stay there, what pages they look at, etc. You can improve your website design accordingly and increase engagement rates with users.
Facebook Pixel allows you to create custom audiences based on people who have visited your website but haven’t converted yet (e.g., registered an account or made a purchase).
Shopify is a platform that allows you to set up your own eCommerce store quickly and easily. The platform also has its analytics dashboard that tracks customer behavior and lets you see what they’re buying.
Salesforce is one of the most popular platforms for managing customer relationships. It offers a wide range of features that help businesses stay on top of their contacts, leads, opportunities, deals, etc. The platform also includes analytics tools that let you track customer behavior over time – great for predicting what they’ll buy next!
Zendesk is an all-in-one customer service software that collects data about your customers’ behavior and preferences. You can use this data to predict what they’ll need next – and then offer it before they even ask for it.
Optimizely (A/B testing software)
Optimizely is a tool that helps you test different versions of your website or app to see which one performs best. It’s especially useful if one version of your website or app has higher conversion rates than another version.
Hubspot is a CRM that helps businesses grow their sales, leads, and revenue. It also offers marketing automation tools like inbound marketing campaigns and leads scoring. These tools allow you to collect more data about your customers’ preferences by tracking their behavior on your website.