The Importance of Behavioral Data in Marketing

Why You Can’t Ignore Behavioral Data in Marketing

The main goal of marketing is to get your products and services in front of customers who will benefit from them . . . but what’s the best way to do that? The last thing that your customers want is to be targeted with emails and ads that don’t relate to them—that’s where behavioral data and analytics shines.

Behavioral marketing is a method of gathering data and implementing solutions based on the past behavior of your customers to discover what type of content engages them the most. This lets you match the interests and meet the needs of your ideal target audience. Here, we’ll discuss how behavioral data and analytics work and the benefits they can bring to your business.

What is behavioral data in marketing?

Behavioral data collection comes from a customer’s interaction with a business. This includes website views, individual page views, newsletter sign-ups, and basically any other important actions. Besides websites, behavioral data collection comes from places like mobile apps, customer support centers, and billing systems.

In behavioral data, a “customer” can be a general consumer, a business, or someone making a purchase on behalf of a business. Here’s the important part: Behavioral data is always connected to one end-user, whether they’re a known or unknown entity (e.g., a signed-in user vs. an anonymous one).

When it comes to behavioral data, using a intelligent automation platform like Lytics helps you aggregate all of your data and integrate it with your marketing campaigns, customer profiles, analytics, and other user activity that leads to impactful results.

What is behavioral analytics?

Behavioral analytics looks at the collected behavioral data to identify what influences your customer’s behavior. This gets determined by tracking the data mentioned above, like page views and site registration, and allows you to optimize your customer experience for conversions and retention.

For example, if you want to find out why users are leaving before they sign up, you can conduct a behavioral analysis aimed to isolate where you’re losing them in the sales funnel. Behavioral data lets you see the journey of a customer, from when they open an email to account creation and everything in between.

Behavioral data collection and analytics are essential in optimizing your conversion rates. Using the right behavioral data platform lets you gain deeper insights into your customers and the motivation behind their actions to keep them engaged and get them to convert.

Why behavioral data is important in marketing

Behavioral data is a crucial tool in marketing; by leveraging behavioral data and analytics, marketers can get the most out of their campaigns and offer their customers a better experience. Behavioral data also lets marketers track how different campaigns are performing. For example, if you run an email campaign with the goal of getting more visitors to your blog, you can use behavioral data to see how many visitors came from the email and identify which pages got the most views.

Marketing teams can benefit from behavioral data and analytics with Lytics by:

• Comparing and identifying the most lucrative campaigns to bring in new customers
• Increasing customer lifetime value (CLTV) by gaining a deeper understanding of the shared behaviors of your frequent customers
• Maximizing customer retention by seeing where your customers are most engaged during their life cycle
• Leveraging an affinity engine to understand what content or products your customers are most interested in.

The value of behavioral data

While behavioral data is typically seen as a tool for marketers, it also provides limitless value to product managers and data analysis teams. Product managers can use behavioral data to monitor the performance of new products, and analytics teams don’t have to rely on building SQL queries to gain and analyze behavioral data.

Lytics can help product managers to:

• Understand customer behavior over the entire life cycle
• Make changes on the fly after product implementation based on real-time user engagement
• Identify customer behaviors that increase retention and reduce churn

For behavioral data and analytics teams, Lytics helps to:

• Manage real-time behavioral data that’s not possible using SQL
• See a customer’s entire journey with full context
• Make data-driven, science-backed decisions easily without disrupting your daily routine

How to analyze behavioral data to boost conversion rates

Acquiring behavioral data is great, and we’ve discussed how it can benefit your business, but how do you use that data to boost your conversion rates and generate more revenue? With Lytics, you can make meaningful science- and data-backed decisions powered by behavioral data and machine learning. Analyze your behavioral data in real time with Lytics to:

• Create meaningful customer connections
• Drive engagement and conversion rates
• Increase your customer lifetime value

And, you can expect:

• 4x revenue growth
• 10x higher click-through rates
• 20% lower cost per acquisition