ݺߣ

ݺߣShare a Scribd company logo

Omni Channel Marketing Conference - Tim Fung

•
•
Tony Booth
Tony Booth

Understanding consumer purchasing patterns is important for businesses to increase customer lifetime value, improve sales funnels, and drive down marketing costs. The document discusses analyzing online and real-world data sources to understand customer needs, information searching, purchase decisions, and post-purchase behavior in order to influence purchasing through testing marketing stimuli and customer responses. It also provides examples of how brands like Amazon and Clearly Contacts effectively understand purchasing patterns to improve sales and customer experience.

1 of 24
Downloaded 23 times
Understanding Consumer Purchasing Patterns Presented by: Tim Fung Tuesday, 26 Feb 2013
Why should we be obsessed with de-coding Consumer purchase behaviour?
Increasing lifetime value… Need Information Evaluation of Purchase Post purchase recognition search alternatives decisions behaviour To improve long term CLV: !   Customer lifetime !   Purchase frequency !   Basket value
Smooth-ening funnels… Need Information Evaluation of Purchase Post purchase recognition search alternatives decisions behaviour Smooth your sales funnel: !   Start conversations !   Simplest purchase process !   Enable repeat purchase
Driving down marketing spend… Need Information Evaluation of Purchase Post purchase recognition search alternatives decisions behaviour To drive down CPA: !   Find real customers, not tyre kickers !   Increase referrals !   Identify customer “fire hoses”
Tracking Purchase Behaviour: Data Sources
Online data sources: on-page heat mapping, mouse and click tracking behaviour triggered automated marketing newsletter analytics website and app performance acquisition funnels, referrals A-B testing on key-page tweaks Quick roll out and testing of landing pages
Real-world data sources: Customer accounts Membership and loyalty Mystery shopping Check-ins and reviews Real world analytics – field research
More data, the better: Start a conversation: Incentivise friendship, either by rewarding users or adding value using data. So cold blooded! For example, Facebook Connect can pick up: !   Location !   Likes (interests) !   Connections ….which will help you serve the best possible experience (curated product lists, suggested services etc)
How to influence purchase behaviour? Test, track, then ask why?
Marketing > Tech Testing Cycle Stimuli Buyer’s black box Buyer response Reason HYPOTHESISE TEST TRACK ASK WHY?
Testing example: Airtasker conversion funnel… (Runners are our customers)
Zooming in a ٳٱ…
…and then a little further…
Result of this “tiny” change: !   30x increase in customer click-throughs !   Instant 34% increase in task assignment !   Literally hundreds more people completing real-world tasks. Tiny Change
…and then back to testing cycle… Stimuli Buyer’s black box Buyer response Reason ASK WHY? HYPOTHESISE TEST TRACK In our case, Softening calls to Use VWO to A-B test Google Analytics and customers want action will lead more two different copy conversion metrics to feel in charge of people through the types on main call to showed significant the quotation sales funnel. action buttons. uplift with new copy. process. NEXT HYPOTHESIS: Customers want to sell themselves as well as bidding on existing available work. Meet Airtasker Stores.
Remember that black box? Don’t waste time hypothesising… JUST DO IT!
Brands that understand purchase patterns: Pretty Good… Up-sell Email
Brands that understand purchase patterns: Very good… Very good… Brands that understand purchase patterns: Amazon: Cross-Sell Funnel Cross-Sell Funnel
Brands that understand purchase patterns: Scary. Customised Sales Funnel Best Practice Clearly Contacts – understand offline lifecycle Amazon – overcome interuptions
Then, close your purchase loops: Understand customer “non-purchasing patterns” too…
Acquiring data in the real-world… Field Research and Marketing: !   Mystery shopping ! Vox-pop content capturing !   In-field consumer Polling !   Observational research !   Sampling feedback loop
Some food for thought… Prism Sky Labs is coming soon to the real world near you!
Questions? Tim Fung Founder and CEO Phone:  0413 030 939 Email:  tim@airtasker.com Airtasker Pty Ltd www.airtasker.com Level 1, 17-19 Bridge Street Sydney NSW 2000 AUSTRALIA

More Related Content

Omni Channel Marketing Conference - Tim Fung

  • 1. Understanding Consumer Purchasing Patterns Presented by: Tim Fung Tuesday, 26 Feb 2013
  • 2. Why should we be obsessed with de-coding Consumer purchase behaviour?
  • 3. Increasing lifetime value… Need Information Evaluation of Purchase Post purchase recognition search alternatives decisions behaviour To improve long term CLV: !   Customer lifetime !   Purchase frequency !   Basket value
  • 4. Smooth-ening funnels… Need Information Evaluation of Purchase Post purchase recognition search alternatives decisions behaviour Smooth your sales funnel: !   Start conversations !   Simplest purchase process !   Enable repeat purchase
  • 5. Driving down marketing spend… Need Information Evaluation of Purchase Post purchase recognition search alternatives decisions behaviour To drive down CPA: !   Find real customers, not tyre kickers !   Increase referrals !   Identify customer “fire hoses”
  • 7. Online data sources: on-page heat mapping, mouse and click tracking behaviour triggered automated marketing newsletter analytics website and app performance acquisition funnels, referrals A-B testing on key-page tweaks Quick roll out and testing of landing pages
  • 8. Real-world data sources: Customer accounts Membership and loyalty Mystery shopping Check-ins and reviews Real world analytics – field research
  • 9. More data, the better: Start a conversation: Incentivise friendship, either by rewarding users or adding value using data. So cold blooded! For example, Facebook Connect can pick up: !   Location !   Likes (interests) !   Connections ….which will help you serve the best possible experience (curated product lists, suggested services etc)
  • 10. How to influence purchase behaviour? Test, track, then ask why?
  • 11. Marketing > Tech Testing Cycle Stimuli Buyer’s black box Buyer response Reason HYPOTHESISE TEST TRACK ASK WHY?
  • 12. Testing example: Airtasker conversion funnel… (Runners are our customers)
  • 13. Zooming in a ٳٱ…
  • 14. …and then a little further…
  • 15. Result of this “tiny” change: !   30x increase in customer click-throughs !   Instant 34% increase in task assignment !   Literally hundreds more people completing real-world tasks. Tiny Change
  • 16. …and then back to testing cycle… Stimuli Buyer’s black box Buyer response Reason ASK WHY? HYPOTHESISE TEST TRACK In our case, Softening calls to Use VWO to A-B test Google Analytics and customers want action will lead more two different copy conversion metrics to feel in charge of people through the types on main call to showed significant the quotation sales funnel. action buttons. uplift with new copy. process. NEXT HYPOTHESIS: Customers want to sell themselves as well as bidding on existing available work. Meet Airtasker Stores.
  • 17. Remember that black box? Don’t waste time hypothesising… JUST DO IT!
  • 18. Brands that understand purchase patterns: Pretty Good… Up-sell Email
  • 19. Brands that understand purchase patterns: Very good… Very good… Brands that understand purchase patterns: Amazon: Cross-Sell Funnel Cross-Sell Funnel
  • 20. Brands that understand purchase patterns: Scary. Customised Sales Funnel Best Practice Clearly Contacts – understand offline lifecycle Amazon – overcome interuptions
  • 21. Then, close your purchase loops: Understand customer “non-purchasing patterns” too…
  • 22. Acquiring data in the real-world… Field Research and Marketing: !   Mystery shopping ! Vox-pop content capturing !   In-field consumer Polling !   Observational research !   Sampling feedback loop
  • 23. Some food for thought… Prism Sky Labs is coming soon to the real world near you!
  • 24. Questions? Tim Fung Founder and CEO Phone:  0413 030 939 Email:  tim@airtasker.com Airtasker Pty Ltd www.airtasker.com Level 1, 17-19 Bridge Street Sydney NSW 2000 AUSTRALIA