Customers' online behavior matters to the overall business of any enterprise. There are several factors impacting the overall business performance and customer behavior is one of the most vital one. Be it an online or an offline business, buying decision depends on customer behavior. To study purchase decision, modern businesses conduct several surveys, which helps them design unbeatable marketing strategies in harmony with customer behavior. It is observed that customers avoid thinking much while buying products of lesser value. Market analysts research the market to find the factual data that would help building strategies to take business to the next level.
Let us learn about the customer behavior that can give a clear view about how a customer makes buying decision?
Need Based Purchases
What makes customers decide to buy products or services? Until they are in need of such product they aren't going to buy it. This could be the obvious answer. Actually, this is not true for every customer. It is applicable to special type of buyer that does not buy without a cause. This could be the first step of the decision making process.
Extensive Online Research Based Purchases
Once the situation is created, product to be bought is already decided. Now the question is which is a good brand to rely upon? The answer to this question is, are your customers buying the product for the first time or are they simply changing the product for better functioning. If they are buying the product for the first time, they need to research the entire market. But if they are changing the product, they might be aware some brands when buying the previous product. Both the cases require thorough research.
Internet is the huge market to find and buy the products of their choice. The biggest advantage of using internet to shop is, they get variety in almost every factor like brands, product types, price, quality etc. Who would go to the brick and mortar store and buy the products when the product can reach your customers in just few clicks? Even the current scenario of eCommerce development industry states that technology is the future.
Evaluation of Purchase Alternatives
This can be the next step of the decision making process. Once the customers decide the product and its features, finding its alternative is the next task. Which brand should be selected that fulfills their requirement list? The selection of the brand also depends on the buyer's persona. Some myths and beliefs attached with some brands may change the buying decision.
Customers can check the products by going to the store rather than harboring negative approach towards any brand. Such beliefs might be true, but not 100%. So making up the buying decision by just considering the customers reviews might not always be the right decision. Researching the market and zeroing in to the most suitable products is the best bet.
Purchase Decision
This final step includes post evaluation process i.e. purchasing. The product which is decided by the intense market research cannot be a worthless. You may suggest the products that would suit your customers' requirements. But it is the customer who has to think about which product to buy. Product suggestion is just the part of the job of a sales person, he might not be aware about your customer's selection of choice.
Buyer can even change their decision or can even cancel the purchase if they find another better product to replace the existing choice. Even factors like long queue at the counter, complex payment system or impolite behavior of the employees might change the buyers' decision. A negative buying experience can also change the buying decision. To handle such buyer's' behavior, buying process needs to be simplified. An intense research on buying decision and shifting customer needs can help enterprise to plan their forthcoming marketing strategies.
Post Purchase Decision
The post purchase behavior includes the dissatisfaction with the products purchased. If it happens customers will not recommend the products or the brand to their friends or relatives, else they will recommend it to the people they know.
Manufacturers want to satisfy their buyers by making the product in accordance with the buyer's choice and requirements. But still, if you fail, you need to work harder and conduct more intense online customer survey. Only the customized products and quality service will assure the post buying behavior to impact the business positively.
Conclusion
The process of making buying decision includes all the steps explained above. You can actually learn about how buyers make decisions about what, how and when to buy the products. This study is driven by the buyer's' psychology.
To build the most powerful and effective marketing strategies to drive your customers to make purchases, studying their buying psychology is crucial. Buyers' online behavior is just the part of it!
