How to Predict and Analyze Customer’s Buying Patterns?

Buying patterns reveal the secrets of why and how a customer purchases a product or service. Analyzing and measuring these patterns allows brands to better understand the potential of a target audience. No brand wants to let go of the opportunity to design a successful sales funnel and understanding customer journey is an inseparable part of it. So, how exactly can one identify the buying patterns, psychology, and motivation of a customer or target audience? We will discuss exactly the same in this post. So, stay with us till the very end!

Factors that Determine Buying Patterns

There are factors that can be used to determine the buying pattern of your target audience. The habits and routines, defined by frequency, timing, quantity, have been shortlisted to figure out the common factors that can be used to determine the buying pattern.

  • Home location

  • Work location

  • Amount of money made

  • Their preferences

  • Recommendations of their relatives

  • Goals and motivations

  • Price of product and services

  • The displayed products

  • Necessity

  • Festivals and holidays

Collecting and analyzing these factors will help brands design a solid buyer’s journey and ensure customers move through the sales funnel smoothly, resulting in more conversions.

How to Predict Customer’s Buying Patterns?

While predicting a customer’s buying patterns, it is important that you know which category the consumer behavior falls in. Every consumer behavior can fall into either of these four consumer behavior categories:

  • Routine purchases

  • Limited decision-making purchases

  • Extensive decision-making purchases

  • Impulse purchases

While the patterns in each of the customer behavior can differ, you can always predict the patterns by installing a customer survey or focus group. You must ask them questions regarding their first purchase, their purchasing decision, buying experience, alternative solutions, and other intriguing questions. These will help you know the why and how of particular customer purchase.

How to Analyze Customer Buying Patterns?

There are dozens of applications and tools available in the market that you can use to analyze customer buying patterns. Tools like Google Analytics, Facebook Audience Insights, HubSpot CRM, and HubSpot Service Hub. These will help you track the customer behavior right from the first interaction to conversion. The tools will also allow you to make improvements to your sales funnel since you get to know where exactly a customer leaves it. Apart from that, these tools will also ease the process of aligning your sales, marketing, and customer service teams.

Wrapping Up

Buying patterns show so much! The insight is invaluable and can certainly boost your business as you put the insights to work. It is the best way to develop products and create marketing campaigns that meet the expectations of your loyal customers. Want to make the most of your customer’s buying patterns? Connect with us today!