05 Aug 09 Make Consumer Psychology Work for You

You may think that marketing leads can’t be an asset to your business because your focus is not among those typically offered in compiled lists. But by making this assumption, you may be depriving your marketing and advertising strategy of a valuable consumer targeting tool.

Those who study consumer psychology know that certain consumer behaviors, including the types of products purchased, the way these products are purchased, and the types of advertising the customer is most influenced by, are inter-related. For example, while there is no obvious connection between books and coffee, booksellers and café chains are aware that consumers who frequent bookstores probably enjoy sitting in a conveniently located café to browse through their purchases. By making use of this connected behavior, both types of businesses profit.

To make use of these types of interrelated behaviors in your own direct advertising, consider the types of market data leads available, and how they apply to your target customers. If your product or service is attractive to, for example, impulse buyers or risk-takers consider compiled lists of lottery leads or sweepstakes leads.

Get the most from your marketing budget by contacting the consumers who are right for you. The better the ratio between your marketing dollars and you customer base, the more profitable your business will be.