Customer behaviour and the decision process
What selection criteria do people use when they're in the market for products like yours? How much do they need to see and hear before they can make an informed decision? Use Consensus's well-planned and skillfully implemented research and analysis to empower your marketing strategies and ensure your messages are always right on target.
We offer you exceptional expertise in the design and execution of buyer behaviour profiling and decision process analysis across consumer and business markets and across all sectors. Our approach includes both conventional interview-based data collection and the use of specialised tools such as trade-off or discrete choice modelling, motivational laddering and trigger event analysis.
The Customer Journey
We work with a 6 stage process to help clients learn more about customer purchase decisions. The stages identify potential touch points that will most influence purchase decisions and help drive sales and increase customer loyalty.
- Current ownership
- Triggers to purchase
- Deciding what to buy
- Brand awareness
- Deciding where and how to buy
- Impact of customer purchase policies
- Short listing
- Final selection drivers
- Channels used / criteria driving channel selection
- Difference between new and repeat purchases
- Satisfaction with purchase
- Satisfaction with channel used
- Future purchase consideration drivers
- Decision-making for future purchases
One of the UK’s leading high street banks had identified a potential niche in the ISA savings market and was determined to maximise the opportunity. Following an initial phase of qualitative NPD research, we worked with them to identify the optimum interest rates or price points at which to set the two component elements of their new ISA product.
We conducted quantitative online research with a sample of existing ISA holders with a view to encouraging funds switching, and also a separate sample of those about to enter the savings market. With the help of our price sensitivity model and informed recommendations, our client set their rates with confidence and launched their revolutionary ISA to market acclaim. It is now both well-established and highly regarded.
