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How to Predict and Analyze Your Customers’ Buying Patterns

Psychology
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How to Predict and Analyze Your Customers’ Buying Patterns Buyers don't think like marketers or salespeople. Anyone who works in these departments can admit that. More importantly, buyers don't think like each other either. Each consumer follows their own set of buying patterns, whether they recognize it or not. For instance, someone who walks to work every morning may grab a coffee from the Starbucks on the corner — to them, that's part of their routine. To Starbucks, that's an established buying pattern. But if this person happened to move neighborhoods, they’d likely establish a new routine (and buying pattern). Buying patterns are important to recognize, analyze, and measure because they help businesses better understand and potentially expand their target audience. Buying patterns also fall in step with the customer journey, although they connect more with the psychology and motivations behind each stage. In this post, we are going to discuss buying patterns and how to predict those of your customers. What are buying patterns? Buying patterns refer to the why and how behind consumer purchase decisions. They are habits and routines that consumers establish through the products and services they buy. Buying patterns are defined by the frequency, timing, quantity, etc. of said purchases. These patterns are determined by factors such as: Where someone lives Where they work How much money they make What they enjoy and prefer What their friends and family recommend What their goals and motivations are The...