Keep an Eye on Consumer Behavior this Season to Help Brand Development
‘Tis the season to do some serious marketing research, using consumer behavior during the Holiday season.
During this season of “buy now for the best deal”, companies who want to get a new perspective on building up their brand development strategy should use the holiday season buyers’ market as a guide for some in-depth market research on their prospects behavior.
Know When They Are Buying
To begin your market research, begin by watching consumer behavior in the online shops, on social media sites, and in the stores. The key is to know who you want to watch. Since most companies have a few different target markets based on varying demographics, decide which group you want to focus your brand development on look for promotions targeting them.
Data is all around us this time of year, showing what types of promotions, ads and content are engaging buyers and driving them to sites, stores and landing pages. It is by watching these marketing tactics in action that business owners can get a sense of how they can turn their current brand development strategy on its ear and garner more attention by implementing a few new tactics.
Know Where They’re Shopping
During your market research, consumer behavior should lead you through a myriad of sources and sites, from social media, to websites, deal sites like eBay or even online shopping warehouses like Amazon. Each of these sites will be running holiday deals targeted at a multitude of targets, in the attempt to meet their holiday sales numbers. Now, just because as competitor may be using certain promotions, don’t jump on the bandwagon just yet. Use Social Media and Google Alerts to monitor what topics and types of content are being talked about. (See more about how Social Media can help track the interests of your target below.)
Even if you’re a B2B company, retail sites are a great place to start because they advertise a variety of products and services your B2B customers potentially desires as a Holiday gift. (e.g. Smart Phones, Tablets, Printers, etc) . You can also look to social media sites to see what types of ads pop up throughout the holiday season.
Brand development is about trust and awareness, so the more your brand can put itself in front of your prospective target market, the better.
Once you know when and where your target market is based on the types of advertisements you see in your initial research, take the time to note the types of content that is being shared through them. Are they being offered blog posts to help them with their purchased “The Top 3 Toys your Toddler Has to Have” or webinars, “Start Off 2013 Stronger with These Financial Tips”, or maybe videos like “See How The Right Lawn Service Can Change Your Life”.
You get the idea right? By seeing what kind of brand development marketing other companies are doing during the holidays, you can get a great picture of what drives reaction in your target market, and what will gain their attention. Social Media is a great tool to use to see what is “interesting” to your target market. What kind of posts are industry-related groups sharing, what content or promotions are being liked or retweeted? These are topics driving your target market.
By drawing the attention of your prospects, you have the opportunity to build trust through content sharing, while also leveraging your expertise and understanding of their needs. Consumer behavior is driven by need (or want) and brand development is strengthened when you can answer those needs to the benefit of your target.
So, use the hustle and bustle and skyrocketed shopping volume to your brand’s advantage. Watch how your target is buying this holiday, (Google “top 10 products selling this holiday” for example) and be ready to engage with them in 2013 using new brand development techniques!