For many years businesses have segmented their audiences based on socio-demographics, or firmographics where they are interested in companies. These are very useful and powerful ways to slice and dice data to then formulate engagement tactics to meet the assumed needs of these groups based on what this data tells us.
For example, how much a person earns will give you an idea if they could afford your product, or if they’re a business, having greater than a certain turnover may indicate they are in the market to buy your service.
But what about going one step further? What if you were to gain deeper insight into the actual behaviours of your potential customers? Just because someone can afford your product doesn’t mean they’ll purchase it. But if you add another dimension to this data in the form of personal attitudes and behaviours, this could create a much richer picture to aid your product development, messaging and targeting – and ultimately increase revenue into your business.
For example, within the health industry, gyms can target women who are 25-40 who are likely to earn over £25,000, within a given area, with a one week free trial promotion focused on weight loss. It is more than likely this will generate some sort of return in terms of uptake, particularly around New Year. But there is opportunity for these gyms to truly understand more behavioural traits of these ladies such as:
- the main drivers behind why women join a gym in the first place
- the feelings that these women have before joining a gym
- what has prevented them from joining a gym in the past
- what behaviours they have before, during and after a session at the gym
- the key reasons for not being able to attend a session
- the drivers behind cancelling memberships
With this more detailed dimension, gyms can reshape their service, re-define their messaging and introduce promotional marketing to existing members to prevent churn – therefore extending the lifetime value of their customers!
Behavioural research is much more complex than research of opinions, as it requires an approach which allows the researcher to get under the skin of the audience and to identify thoughts, feelings, emotions and the actions of an individual as a consequence of these. These are usually more deeply rooted and not easy to uncover using traditional surveys.
Our expert team utilise a range of methodologies that allow us to pull together a rich picture of your customer and stakeholder types. We use qualitative approaches for collecting this type of insight that could include a mix of the following methodologies:
- Mini communities
- Online diary entry
- Observation research
- Accompanied experience
- Intercept interviews
- Focus groups and workshops
There are many reasons why you should consider behavioural research – here are our top five:
- It will provide you with another dimension and help you better understand your audience
- It will help form more engaging communications resulting in better returns
- Products and services can be enhanced to better meet the needs of your customers
- You can identify weak spots in your service to address and therefore increase your customer lifetime values
- You will gain a competitive edge
Contact the Explain team today to find out more about the best approach for you. Please feel free to save and share our accompanying infographic.