Experimentation is indeed necessary to spice up the life but a stage comes when tried –and¬-tested becomes the essence of existence. Many people dwell on their habits and it certainly takes a lot to take somebody away from their deep desires. A recent report on consumer behavior reveals that humans are “Creatures Of Habit”, a person would stick to what he does generally even if they are devoured with numerous options.
According to BizReport.com JiWire, a mobile audience Media Company has unveiled the Location Graph which correlates behaviors with location to create an anonymous profile of a user which can be then be used to target ads more efficiently.
In accordance to the report- we're eating at the same places, visiting the same stores and it's all based on behavior. Some early results include:
• 60% of women eat at the same 3 restaurants each month
• Moms who visit beauty salons are also likely to visit a health club or child care center
• 23% of visitors to Peet's Coffee and Tea also visit Starbucks
"The Location Graph offers deep insights into user behaviors, some more expected than others. We all know that people tend to travel in similar circles, and it was extremely exciting to actually see what those patterns looked like," said David Staas, interim CEO of JiWire. "Using location, we can see how similar audiences tend to exhibit the same patterns and compare them to other audience segments - like moms vs. dads vs. students, etc. The ability to find and create look-alike audiences is going to completely revolutionize the way people think about mobile and location."
JiWire also looked at loyalty and found about one-third of people who visit Best Buy also visit competitor stores.
A habitual consumer is very difficult to counter and making him buy the new product becomes a next –to-impossible task. To understand the consumer base more clearly marketers need to segment them into different types. There could be generally five types of consumes as per About.com:
• Loyal Customers: They represent no more than 20 percent of our customer base, but make up more than 50 percent of our sales.
• Discount Customers: They shop our stores frequently, but make their decisions based on the size of our markdowns.
• Impulse Customers: They do not have buying a particular item at the top of their “To Do” list, but come into the store on a whim. They will purchase what seems good at the time.
• Need-Based Customers: They have a specific intention to buy a particular type of item.
• Wandering Customers: They have no specific need or desire in mind when they come into the store. Rather, they want a sense of experience and/or community.
Brands need to determine patterns in the stores consumers visit to create a more accurate profile. That profile can then help brands create more targeted ad campaigns or make tweaks to improve campaign ROI.