This week sees the return of the industry leading annual show that is Marketing Week Live. With some of the TwentyCi team attending, our own unique marketing approach is particularly front of mind: the science of buying behaviour, or buyhaviour™ as we call it.
When we talk about buyhaviour, we refer to the actions of a consumer around the purchase of goods or a service. It’s with knowledge of these behaviours – understanding patterns as well as changes – that can provide invaluable insight to help inform marketers of when and how to make contact at a time and through a means best for the consumer.
A shift in buyhaviour is often triggered by a change in circumstance, or put another way, the occurrence of a life event. A home move is one such example of this; an event that causes consumers to significantly change their buying behaviour with a switch in spending at very specific times on very specific categories, different for every brand and sector. In knowing the circumstances that drive buyhaviour, marketing programmes become insight and data based rather than instinct only led.
The reward for getting this right is sizeable and a major opportunity not to be overlooked; buyhaviour around a home move, as the example above, commands a purchasing power of £12 billion every year from UK consumers.
Could your brand work harder to be more relevant? Perhaps it’s time to consider a buyhaviour approach.
If you'd like to arrange a chat with us at the show later this week, you can contact us at email@example.com or call 01908 829300.