Investopedia defines behavioural analytics as “an area of data analytics that focuses on providing insight into the actions of people, usually regarding online purchasing”.
When behavioural analysis in marketing came more into focus, online marketing tactics involved rudimentary ways of targeting consumers, and most brands wasted money on various advertising campaigns based on the number of pages one visited on a website. Without knowing what the customer may relate to, brands would target consumers with unwanted emails and phone calls. Factors such as personalisation and customer experience did not matter, like age, gender, location, ethnicity and profession broadly defined the audience.
Behavioural analysis takes into account many other aspects. But taking into account how people make decisions online is its fundamental aspect. Once the brands know the choices of their potential and existing customers, it becomes easy for them to shape the message(s) and sell their product(s). In our current digital age, Google, Amazon, YouTube, Facebook and Netflix are some of the biggest examples of this kind of analysis.
Let’s delve into the different types of behavioural analysis:
• Targeting the demographics in detail
Knowing the age, gender, location and occupation are not enough for marketing nowadays. As Google Ads has always provided advertisers with detailed analysis of the audience segment, the new Detailed Demographics feature that has been recently expanded provides marketers with more control. Now marketers will get to target their audience in Australia, Brazil, India, Japan, the U.S. and a handful of other countries by parental status, marital status, homeownership and education.
The demographics target for parental status comprises the parents of infants, toddlers, pre-school children, grade school children and teens within the age-group of 0 to 17. With the targeting measure of parental status, marketers can aim at marketing children-related products to only parents with children. Similarly, marketers who want to know if the consumers are in a relationship, married or single can check the marital status and advertise products accordingly.
• Behavioural email marketing
In this trigger-based email tactic, brands send automated emails to their audiences they are in contact with. This is done when a customer signs up by providing his/her email id for a service on a company’s site. Take Grammarly, for instance. Although it is a paid online grammar checker, users get to check the basic writing errors free. Grammarly sends various offers on its paid service to the potential customer’s email id on a regular basis, thereby prompting him/her to buy it.
Behavioural email marketing strategy works on many levels. While the customer feels more connected and is aware that the company is giving more attention to him/her, the brand succeeds in developing a healthy affinity that will work in the future. The consistent use of this marketing strategy can quicken the buying process of the loyal customers exponentially.
• Upsell and cross-sell strategies
Upselling is a popular online retailer’s tactic, which compels the customer to buy another related item with the product s/he chooses. Amazon is perhaps the best example that characterises this method. It will recommend a similar product to be bought as a bundle at a lower price when you are about to checkout.
Much in a similar fashion, cross-selling is also a fine method that shows the customer a complementing product along with the product s/he is buying. To use this method effectively, online retailers must show products that work as fine accompaniments. Amazon again uses this method in a brilliant way.
While these are among the sought-after behavioural marketing strategies, brands can use all of the above or even use any of them as their next marketing tactic.