Achieve better marketing and media ROI through behavioral insights

Most successful businesses have learned that data is the most valuable weapon to achieve tangible marketing results. However, organizations must do more than invest millions in software and personnel if they’re looking for more favorable returns. While many companies understand the importance of compiling data, things get lost in translation when turning that information into something actionable.

Why behavioral insights are the future of marketing

Behavioral insights analysis involves in-depth research focused on how humans behave, live, talk, and think when interacting with various brands. Once you understand your audience, it becomes easier to find new marketing opportunities. In addition, you can find ways to overcome challenges you may have faced during past marketing campaigns.

Let’s look at a typical path a buyer might take to make a purchase.

1. A potential customer starts by liking an Instagram post from a company, then shares the image with others on their feed.
2. They click through to the brand’s website to look at the prices of the products they saw in the picture, then sign up to receive promotional emails.
3. The company emails them touting a sale on a recently introduced product line.
4. That user then goes back to the company website, finds some products they like and makes a purchase using their credit card.

There’s something to be learned about the customer during each phase of their journey. Behavioral insights allow you to understand the information you collect from different platforms. For example, the data you derived from the performance of your Instagram posts is distinct from the info gathered about email open rates.

Behavioral analytics allows you to look at the commonalities between the data. That way, you can find answers to any questions you might have about the customer, then use the insights to develop more targeted and effective marketing campaigns.

How to use behavioral insights to your advantage

With behavioral analytics, you’re looking past traditional metrics like page views and ad clicks. When leveraged effectively, marketers can create a system capable of making more accurate predictions about consumer behavior based on the information gathered.

You can organize the data into customer profiles, dashboards, and customer base segments. You need tools capable of analyzing the kind of unstructured data collected from social media platforms and other channels. That helps you gain a sense of how consumers feel about your brand.

That means you must look beyond just reviewing stats around website traffic and total purchases by users. Every interaction with a customer provides you with valuable information for understanding human behavior, including:

• What drives them to interact with your brand
• Issues that influence buying decisions
• Why past customers come back to make future purchases
• What prompts consumers to recommend your company to others

Solving the true problem at hand

One of the roadblocks that many companies stumble over when using business intelligence is figuring out the issues they’re looking to resolve through data. Are you trying to figure out how to appeal to a specific age group or looking to generate more interest in a particular product? If you don’t know which questions to ask, it will be difficult for you to find the answer through behavioral insights.

Looking at generic data groups isn’t going to magically provide you with answers. You’ve got to put in the work of outlining your issues. Doing that puts you in a position to leverage behavioral insights to bring you the actionable information needed to make a difference in your marketing ROI.

While high-level states may give you a general sense of your biggest challenges, they’re not going to provide you with a deeper understanding of human behavior during their customer journey. For example, if you’re looking to set up marketing around a new product campaign, you should look at historical purchases made by customers and their profiles.

You can figure out which customer bases to consider when working out your new campaign. You’re sending advertising to the people already further along the funnel when they start seeing new ads and content emerging from your brand.

Make the Most of Behavioral Insights

Lytics provides you with all the tools necessary to help your organization make better data-driven decisions. Contact us today and see for yourself the impact our platform can have on your ability to gain more from your marketing campaigns.