Home » Guides » Sales and Marketing » Market Research » Using Consumer Behavior Research

Featured Listings

 
Toni Klym McLellan

Guide to Using Consumer Behavior Research

What science can tell you that might help predict future sales growth.

By Toni Klym McLellan, Freelance Writer & Editor, Toni Writes

There's an expression that past behavior is often the best predictor of future behavior. That's the idea companies are banking on when conducting consumer behavior research. By tracking past purchases and returns, businesses hope to predict what products and services consumers want.

Consumer behavior research can help your company in the following ways:

  1. It builds predictability into marketing strategies.
  2. It helps eliminate tactics that aren't working.
  3. It enables companies to make their promotions more customer-specific, thereby increasing the chances of repeat purchases.

Action Steps
The best contacts and resources to help you get it done


Study what others have done

Know as "secondary research," companies can peruse studies about similar firms or industries.
I recommend: The Market Research Portal at KnowThis.com contains a section devoted to finding company and industry information. Look for research on your market at trendwatching.com.

Conduct your own research

So-called "primary research" is another way to track consumer behavior. Select marketing firms specialize in tracking customer behavior through surveys, focus groups, and direct observation or monitoring (such as "cookies" used by Web sites to track visitors preferences).
I recommend: You may have heard of Nielsen ratings for television, but were you aware that AC Nielsen also does consumer behavior research tailored to your business? Claritas also offers customized behavioral profiles for purchase.

Sharpen your skills

Keep up with the latest on consumer behavior research by monitoring industry Web sites.
I recommend: The Association for Consumer Research publishes studies on the mind of the consumer. Take a tutorial on buyer behavior at KnowThis.com.

Tips & Tactics
Helpful advice for making the most of this Guide

  • Use customer feedback cards to gather some of your own information – include a self-addressed, stamped one with each purchase.
  • Provide customer surveys with regular newsletters or at your web site.
  • Keep your eyes open while reading general marketing or business magazines to spot trends in your industry or in market research.
  • Never underestimate the power of the Internet – make sure your marketing department is tracking customer behavior while visiting your web site, how long they spent on each page, etc. or ask your web designer to implement a tracking system.
  • Ask around at trade shows and conventions to learn how your competitors are tracking their customers' habits.

The official source of Using Consumer Behavior Research is
the Consumer Research page at Business.com

More Featured Listings
Consumer Behavior Model
Uncover the psychological motivators of your best customer. Discover the drivers behind authentic brand loyalty.
www.Cult-Branding.com
Consumer Research - Brand Institute, Inc.
Branding, naming, online market research, design, regulatory (FDA), paid surveys, package design, corporate identity, survey hosting, & recruiting.
Brand Naming | Market Research | Identity Design | Contact Us
www.brandinstitute.com
The Right Customers
Access reports on the demographics of current and potential customers.
americanexpress.com/bizinsights
Demographic News, Trends & Analysis
Know your customers. Grow your business. Gain valuable insight into consumer demographic trends. Start your Free Trial of demo dirt Gold today!
www.demodirt.com
Related Resources

Recommended Solution Providers

In Touch Marketing: How to Identify and Leverage Your Demographic
This provider target prospects, gives market reports, and talks with your company about how to use consumer data to improve your business' sales.

Loyalty Builders: Measuring the Future
Uses powerful, proprietary metrics that far surpass traditional methods, revolutionizing the way companies understand and respond to customers’ behavior.

ACNeilson: Customised Research
Top marketers and researchers work together to understand your business environment, consumer behavior, and marketing requirements, seeking solutions to meet the imperatives of both local markets and head offices.

Claritas: Costomer Research Service
Segment your customers to target your best growth opportunities. Understand customer lifestyles, product preferences, and media habits so you can target customers and prospects more effectively

BendFocus: Turning Insight Into Vision
Learn who your audience and stakeholders are, and how they feel and behave; this service can build a reliable, customer-based foundation for successful marketing decisions for your business, organization or clients.

Iconoculture: Get Closer to the Customer
Provides how to translate data of emerging trends, current consumer behaviors, and enduring consumer values into innovative business ideas, effective communication strategies, and pertinent products.

Brand Dimensions: Market Intelligence
This service detects, analyzes and generates intelligence on hundreds and thousands of relevant comments about your business' products on a daily basis. Our comprehensive market intelligence solutions deliver actionable insight and intelligence, thereby creating new and highly beneficial ways for your small business.

Perseus: Research Services
Offers internet market research services, specializing in customer satisfaction surveys, course evaluation surveys, and 360 degree surveys.

Best Sites to Learn More

Know This: Consumer Behavior
Articles, tutorials, guides and links giving information about consumer behavior research.

Consumer Psychologist: Consumer Behavior and Marketing
Read about the basics of researching consumer behavior and what to do with that information to optimize your small business operation.

Psychology: Consumer
Links to articles, websites, and papers dealing that range from introducing the reader to consumer behavior to providing a more in depth look on the subject.

Best Blogs and Forums

Websolver: Consumer Behavior Blog
Learn the latest news in the consumer behavior arena.

Delightful Reflections: Behavior Blog
Emphasis on topics such as marketing, consumer behavior, psychology, education, and the autistic spectrum.

Loyalty Marketing: Customer Blog
Read about topics that deal with consumer behavior and data collection and analysis.



FEATURED LISTINGS
Consumer Behavior Model
Uncover the psychological motivators of your best customer. Discover the drivers behind authentic brand loyalty.
www.Cult-Branding.com
Consumer Research - Brand Institute, Inc.
Branding, naming, online market research, design, regulatory (FDA), paid surveys, package design, corporate identity, survey hosting, & recruiting.
www.brandinstitute.com
The Right Customers
Access reports on the demographics of current and potential customers.
americanexpress.com/bizinsights
Demographic News, Trends & Analysis
Know your customers. Grow your business. Gain valuable insight into consumer demographic trends. Start your Free Trial of demo dirt Gold today!
www.demodirt.com

What WorksTM for Market Research

Creating a Customer Database

 By Jenni Simcoe, Writer
Stay organized and increase efficiency with a customer database
Building a database can seem like a daunting task if computer data entry isn’t your forte, but an up-to-date customer database can save your company time and money and most importantly, help you attract repeat business. Small businesses have many options for creating a customer database. You can custom build your own in a basic spreadsheet such as Excel – a good choice if you are already comfortable with this software. ... Read more

Related Topics

Free B2B search marketing whitepaper, B2B Search Marketing Strategy Guide: Advice From the Pros.
Download

To advertise on Business.com, click here
Business.com Home | Advertise With Business.com | Advertiser Login | Business Categories | Sales and Marketing Guides | Jobs | Affiliate Program | About Business.com
© 2009 Business.com, Inc. All Rights Reserved. Privacy | Terms Of Use | Help | Business How To Guides
Business.com SMART BUSINESS RESULTS ™