One of the most effective ways to collect high-quality data, which makes it possible to learn about customers’ needs and purchasing habits, is by using behavioral data. Below, we will look at some concepts related to the field of behavioral data and the benefits this data can provide to marketing professionals.
Evolution of high-quality data in marketing
When we talk about obtaining high-quality data through behavioral data, we are referring to collecting data via methods of observing consumers’ digital behavior.
Today, without a doubt, we can say that the days when marketing specialists relied only on sociodemographic data or panelists’ memory to create campaigns and products are behind us.
Some actions that can give us valuable data today are:
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Clicking on a link
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Entering a search query
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Reading a blog post
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Watching a video
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Rating or liking content
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Filling out a form
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Adding a product to a shopping cart
How can marketing directors leverage this data?
By combining a traditional survey with behavioral data, marketing directors can get a 360º view of consumers, which enables:
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Creating well-profiled and defined buyer personas based on comprehensive information that covers the entire consumer spectrum
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Retailers and e-commerce marketplaces being able to have a better understanding of how their customers search for and buy products
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Gaining in-depth knowledge about what information influences a consumer’s purchasing decisions and how a consumer compares different options
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Providing detailed profiles of how users interact with different content at different times of the day
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Opening the door to improve all kinds of products and services
Breaking down traditional survey barriers
High-quality data obtained with behavioral data can provide a granular description of people’s decision-making process, in addition to their tastes and preferences. Consequently, CMOs or marketing directors and companies can equip themselves with a deep and advanced-level understanding of their customers.
Having said that, to reach the next level, there are specialized services capable of offering a view of both past and future behavior. For example, today we can learn about a person’s purchase history or the sites they visited through data collected months or years ago.
As for future trends, innovative predictive technologies based on artificial intelligence make it possible to anticipate new behaviors. These technologies enable estimating key factors that will drive a consumer’s next decisions.
Whether they are smartphones, tablets, or computers, brands can take advantage of and benefit from learning about and analyzing a consumer’s behavior on their device.
Three main benefits of using behavioral data
Transparency and veracity
High-quality data obtained in a real and verifiable way gives important weight to conducting any study. However, within this structure of questions and answers, the relationship with panelists (also known as respondents) is an essential core element.
Consequently, CMOs or companies looking for a data provider should pay attention to this provider’s relationship with its panel. Relationships of trust, an excellent incentive plan, and a close relationship are what lead to truthful answers connected to the market reality.
A second aspect that highlights the transparency and authenticity of behavioral data is its passive measurement method. Usually, in traditional research methods, panelists hand over their information within a time range that can blur its truthfulness, not to mention the multiple factors that can create response biases.
In contrast, capturing clickstream data makes it possible to obtain objective high-quality data based on observing people’s online behavior. This data, in turn, can complement and be cross-referenced with information provided by panelists in traditional surveys.
Undoubtedly, it’s one thing to say that you visited a website, but it’s quite another to demonstrate with behavioral data that this is the case. Verifying the average time that a person spends browsing different sites or apps helps support statements that consumers may make.
Behavioral data = Matching what a panelist says with what they actually do
Ease of access to data
Unlike the cross-media analysis approach, tools to analyze high-quality, behavior-based data provide built-in, centralized information. As a result, a work team will not waste valuable time trying to collect data from different sources but will have it all in one place through a single-source panel.
However, saving time isn’t the only benefit of having all the data in one panel and one dashboard. This also allows marketing specialists to make well-informed decisions due to their quick access to real-time data.
For example, when a new product is launched, managers can measure its performance in real time thanks to behavioral data. This allows them to identify what exactly users were looking at or doing on the website when they decided to buy the product. But what happens when we also have access to historical data from a panel of consumers?
As we just saw above, specialized data providers such as Netquest have the possibility to track and access historical data in their panels, which span months and even years. This enables conducting much more detailed analyses by covering the past and the present in consumers’ decision-making.
Having access to this type of data gives a competitive edge, making it possible to delve into historical data online and observe changes over time.
A 360° view of the consumer
Behavioral data is a powerful tool to obtain genuine insights from consumers: not only can you see their purchase or browsing histories, but you can also find out their location or what they listen to. It also makes it possible to obtain information about the interactions they had with the different points of contact in their buying journey.
Finding the solution to acquiring high-quality data
Finally, as a marketing director, you know how important it is to research and analyze high-quality data. Access to richer, more reliable, and better structured data makes it possible to have greater predictive power about the market.
That’s why, at Netquest, we want to help you discover valuable opportunities for your business by measuring real consumer habits and preferences by using innovative tools and solutions that we’re sure you’ll love. Contact us and learn more about everything you can achieve with behavioral data and other online collection methods!
