What is Purchasing Behavior Analysis?
Purchasing behavior analysis is one of the means to improve sales and repeat rate by analyzing the purchasing behavior of customers.
Because the analysis is based on log data, you can make hypotheses and devise more effective marketing methods.
What is Purchasing Behavior Analysis?
In the first place, “purchasing behavior” refers to the behavior from the customer’s recognition of the existence of the product to the actual purchase.
This flow of customer behavior is part of discussions in various places. There are many “purchasing behavior models” that model behavioral processes because it is not easy to find the correct answer because it is related to human psychology.
What is important in purchasing behavior analysis is what kind of persona to consider marketing measures after digging deeper into the reasons why consumer behavior that applies to the target occurred. Even if the analysis ends, it does not lead to maximizing sales, and conversely, it is possible to identify true good customers and potential customers simply by scrutinizing purchasing behavior.
By the way, “AIDA”, one of the famous purchasing behavior models, expresses the purchasing behavior of customers as follows.
Know the products and services caused by advertising
Consumers are interested in products / services
I want / want to use products / services
Purchase or use
Purchasing behavior occurs in the above flow, which is the basis of this model, and when considering marketing, it is necessary to draw a purchasing flow line assuming four elements.
Benefits of Purchasing Behavior Analysis
Data analysis reveals what was overlooked by the human eye
When conducting a purchase analysis, you can make hypotheses based on the information recorded in each accounting, taking into account various factors such as regional characteristics, store size, repeaters, and new ones.
When a person makes an analysis, he or she cannot always make the right decisions because of data oversights or some direction or prejudice. Purchasing behavior analysis allows you to capture all your data and perform fact-based analysis, so you can make discoveries that we didn’t notice.
Purchasing analysis for all generations is possible without bias
The analysis is based on performance based on historical logs, so you can analyze the buying habits of customers of all ages and types. Even if you purchase the same product, the intention is likely to be different depending on the customer’s attributes, so it is an effective means for analysis based on data.
You can consider measures suitable for each customer
As mentioned above, it is possible to generate personalized analysis results as long as the history remains.
In this way, by incorporating purchasing behavior analysis, you can think about marketing flows and approaches based on the support of actual purchasing data.
Introducing the method of purchasing behavior analysis
RFM analysis “Purchase price” consisting of three words “Recent”, “Frequency”, “Money”, “Did the customer make recent purchase activities?”, “Purchase frequency”, and segment (rank) base. About one element.
You can decide which customers your company should prioritize. This helps determine the customer’s purchase motivation.
Behavioral tendency analysis
It is possible to analyze purchasing behavior in consideration of seasons and seasonality, it is possible to approach according to the season, and it is easy to contact customers. In addition, it is easy to meet the needs of “I want it now”, and we can make proposals that match the insights of our customers.
You can identify the best-selling products and the products that repeaters like. This is especially useful when you want to deepen your understanding of your company’s products or when developing products.