Why Profit Depends on Getting to the Heart of Your Customer Behavior

Posted by MMarquit under Marketing
From http://www.inc.com 3225 days ago
Made Hot by: brianhughes116 on July 24, 2015 8:25 am

If you want to make people buy more of your stuff, find out why they're purchasing in the first place.

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Comments

Written by nirmalablog
3221 days ago

Hey, it is an excellent piece of content on business, customers and profits. I enjoyed reading this article and I would appreciate the author for crafting this precise content for the business owners.

I completely agree with behavioural economics and the tools listed in the post to track the user data sounds great.

Yes, of course! Personalization has to be done for product sales as it will aid to get more leads.

Understanding the customer needs, giving freebies and sending often updates would improve the business profits.

Thanks for sharing this good article for bizsugar users.

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Written by atishranjan
3222 days ago

Behavioral economics! Sounds cool.

To be honest, I am pretty new to this term.

Knowing the customer insights is important, and nowadays there are many tools and social media which make it easy to analyse the customer's behavior, and latest happening of their life.

For example, If I am selling kids product then I would keep an eye over the married ladies profiles to know something about their life as they keep sharing beautiful moments of their life.

Suppose one of those ladies going to have a kid in a month or two, then I can make use of situation, and can offer them the kids product because I am sure she is gonna need such products after 2 months.

In my opinion, this is a cool way too.

There are many ways we can get profit by understanding the behavior of the customers.

Suppose I sell a product for 100 USD out of which I get 30 USD profit per sale. But when a customer comes to me who cannot pay more than 80 USD of that product, then I can offer him to sell at 80 USD only, at least I can retain that customer and still able to make 10 USD profit.

Thanks for the post. Great one!

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Written by nirmalablog
3221 days ago

You're a business mastermind Atish. I would like to learn from you a lot. Have read some good tactics here and they are really great :-)

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Written by nikhilganotra
3223 days ago

Informative article indeed!

Through this article, I came to know about some new analytics tools such as Netbisuits to increase mobile engagement and cooladata to analyze bounce rate etc.

Thanks for sharing! :)

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Written by pvariel
3223 days ago

Hi MMarquit

Thank you very much for sharing This post here.

A very informative one indeed!

Some of the vital secrets a business person should know is revealed in this post.

Getting the heart of the customer is the primary point we need to look into. And the several secrets for getting the attention of our customers is well narrated in this post. The Behavioral economics is an important area we need to check out and move forward. The connected links here are well spoken about the said subject.

Yes, as you mentioned, Big date collected by huge social sites like facebook can give an access to the customer insights.

Altogether it is an important post for all business owners, a must go through the post!

Thanks John for bringing out such and in-depth study on the subject.

I liked the point where you shared under the subtitle "Some Examples of Successful Targeting" and the story about a teen girls pregnancy before her own father did… are well connected to this post.

Keep sharing

Thanks John for this in-depth post of this subject.

~Philip V Ariel

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Written by Amitkr404
3223 days ago

I would agree with the point "Some examples of Successful Targeting". I have tried it on of my product based website and it helped us a lot. Basically, adding the example of the successful target helps users/customer to understand and trust on the particular project or product. I really loved the way of presentaion.

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Written by erikemanuelli
3224 days ago

I'm attracted to understand how behavioral economics work.

Concept of "Frequency Illusion" is really interesting.

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Written by MattJanaway
3224 days ago

Some very interesting points made. The psychology of customer behaviour can make massive differences to the way businesses operate! Thanks for sharing.

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