How To Predict Buying Patterns & Make The Most Of Your Customers
in Insights - Last updated May 26th, 2022
Every aspirational business craves the ability to predict the future.
To gaze into a crystal ball and uncover how and why customers will buy in the weeks and months to come.
To have a tried and trusted method for understanding what triggers or activities indicate a customer is ready to return.
Unpacking the analytics is the key to achieving this.
Imagine how valuable it would be to guarantee communications land in customer inboxes at the precise moment they are looking for what you offer.
The ability to predict buying patterns and make the most of your customers can put you in pole position to capture excitement at it’s peak.
For many, that data is right there. You just need to know where to look.
Why Should You Predict Buying Patterns?
Human beings are creatures of habit.
Whether it’s a preferred car parking spot, a 9am coffee or a dish at your favourite restaurant.
We like, and crave, the familiar.
“Companies that can accurately predict customer behaviour will have an edge over their competitors.”
Express Analytics
Tapping into these inherent traits can unlock a whole new world of customer driven insights.
It is these behaviours, and identifying the patterns that both precede and follow them, where the secret to making the most of your customers lies.
Analysing the analytics allows you to predict purchasing patterns, enabling you to be front and centre at the pivotal moment.
Ultimately, buying patterns are the why and the how behind purchase decisions.
Understanding, and acting on, these routine behaviours allows the creation of a proactive process to deliver when it matters most.
How To Predict Buying Patterns
Having the right systems and processes in place can help to prevent opportunities slipping through the cracks.
In much the same way, they can also allow for improvements to be made so as to minimise the need for reactive fixes.
This is critically important for those retailers whose customers buy large, often one off purchases, every few years.
Such purchases are seldom made, require a significant amount of consultation and carry a hefty price tag.
Because of their size and importance, there’s little room to establish a buying pattern for the individual through regularity.
You can, however, use the analytics at your fingertips to establish buying patterns for target personas.
By combing the data, understanding the reasons to buy and the actions taken before engaging with your organisation, you can begin to paint a picture of the journey made before initial engagement.
Likewise, if an opportunity goes cold without warning, analysing the why, and the reason for return should they come back can prepare a business to both minimise churn and increase reconversion rates.
Make The Most Of Your Customers
Knowing the why and the how of a purchase decision is invaluable.
But keeping track of where all your customers, new and old, are within that journey can be time consuming and resource draining.
“51% of respondents purchased from a company other than the one they originally intended to because of information provided at the moment they needed it.”
Google
Automated communications are the key to keeping in touch with timely engagements, nurturing your customers as they progress until they’re in a position to engage once again.
This way, you can drop in “randomly” when the signs suggest they’re ready.
By scheduling triggers, you can be proactively present without diverting resources away from active opportunities.
No compromise to experience, merely an enhancement for everyone.
You don’t need a crystal ball to see the future.
You simply need the tools to predict buying patterns, and the future becomes the now.
Ready to explore how Anthill can help you develop you predict buying patterns? Schedule a demo today.
Intrigued to learn more? Check out our Insights Hub to keep your business at the cutting edge.
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- May 26th, 2022