The other day, I heard Nobel laureate Paul Krugman talk about economics. One thing he said that struck me was when he said, ultimately, economics is “about what people do.”[1] In particular, he emphasized, “people make choices, and yet we wouldn’t be able to have the economy as we do unless people were reasonably predictable.”

This predictability forms the cornerstone of economic theories and models, allowing economists to make informed predictions about market behaviors and trends. But it’s not just economists. In our field of marketing, we also base a lot of our tactics around this same predictability. 

What makes your customers predictable? Here are six ways.  

No. 1: They Love Discounts/Getting a Good Deal/Offer

One of the most predictable aspects of consumer behavior is their affinity for discounts and special offers. Indeed, you don’t need a study to confirm this, though many have consistently shown that consumers are more likely to make a purchase when they perceive that they are getting a good deal. Perceive is the operative word here. Whether it’s a percentage off, a buy-one-get-one-free promotion, a limited-time offer, or a combo savings of some kind, discounts have a powerful psychological impact on consumers.

From a marketing standpoint, leveraging this predictability involves strategically incorporating such deals into promotional campaigns. Even if you’re a company that doesn’t discount, you can still use combo offers or other types of tactics such as providing a middle pricing option among two more extreme ones that can both maximize your return and encourage the behavior you seek.

No. 2: They Respond When You Create Urgency

Have you ever tried to register for an event and you saw a countdown clock for the early bird deadline? If you really wanted to go to the event, did it make you cognizant that the great conference rate you were getting was expiring and made you register faster? How about when you buy tickets to a movie or a sporting event? The fact that you only have 10 minutes or so to complete your payment pushes you along, doesn’t it?

Creating a sense of urgency works. Period. Psychologically, it’s based on the idea of scarcity – that something could potentially not be available (a deal, great seats at a game) if you don’t act. When that happens, customers will often jump in to act quickly to avoid missing out. Hence, the usage in marketing campaigns through tactics such as countdown timers, limited inventory notices, and flash sales.

When we speak with clients, we often emphasize the dual of effects of creating urgency – increasing conversion rates and also enhancing your brand perception by positioning the offering as valuable and in-demand.

No. 3: They’re Generally Loyal When You Treat Them Well

Consumer loyalty is another predictable outcome of positive customer experiences. When brands prioritize customer satisfaction, provide excellent service, and demonstrate genuine care, consumers are more likely to remain loyal and advocate for the brand. This may seem obvious to you, but it’s amazing the number of businesses that don’t pay attention to this.

For marketers, understanding this predictability means investing in strategies that prioritize customer retention alongside acquisition. That means implanting things such as:

• • Loyalty programs
  • Personalization/personalized communications
  • Proactive customer support

The bottom line: When you make an attempt to cultivate strong relationships, you can turn those satisfied customers into long-term advocates who contribute to sustainable business growth.

No. 4: They Rarely Purchase the First Time They Become Aware of a Product/Service

We often talk with small businesses that expect their ads to convert immediately. In other words, they think audiences will see the ad and buy from it immediately. But that’s not how most advertising works.  

Consumer behavior often involves an often-complex decision-making process that extends beyond initial awareness. Studies indicate that consumers typically engage in research, comparison, and consideration phases before making a purchase decision. Indeed, the average number of touchpoints to make a sale has been generally known to be 8 to 14. That’s a lot of touches!

This behavior underscores the importance of nurturing leads and maintaining ongoing engagement throughout the customer journey. To leverage this predictability, small businesses need to implement lead nurturing strategies that provide valuable information, address consumer concerns, and reinforce brand credibility over time. Tactics such as email drip campaigns, retargeting ads, and educational content can guide prospects through the decision-making process and increase the likelihood of conversion at later stages.

No. 5: They React Favorably When You Get Back to Them Quickly

Again, this might seem like a no-brainer. But we know a lot of small businesses that, for whatever reason, don’t reply to inquiries, questions, or issues. Prompt responsiveness is not only a critical factor in consumer satisfaction and retention, it’s really an overall brand narrative projection question. Whether addressing inquiries, resolving issues, or acknowledging feedback, timely communication demonstrates respect for the consumer’s time and concerns. And yes, studies reveal that consumers are more likely to perceive brands positively when they receive quick responses to their queries or complaints.

No. 6: They Rely on Social Proof

You’re buying a product or service for the first time. How do you know the product works? How do you know it’s not just a scam? Well, you read the ratings and reviews about those products or services? If you’re in the B2B business, maybe you take a look at case studies or see if other experts recommend the company. What we’ve described above is the concept of social proof – if someone else uses the product or someone influential recommends it – it must be good enough for us to buy too. 

As people, we need that reinforcement that “we’re not the only one.” That’s why companies put ratings and reviews front and center. The idea is to get as many as possible, too. (The more reviews you collect the more impactful because it says two things to people psychologically: 1. It means more people have used the product or service and; 2. It makes people believe that this many people can’t be lying – hence, audiences tend to rely on it more.)

Conclusion

Obviously, these aren’t the only ways in which your customers may be predictable. Part of the goal of your marketing is to figure out the different ways your audiences respond positively to your company/brand. If you need help, don’t hesitate to contact us for a free consultation.

[1] A lot of people mistakenly believe economics is about purely numbers or theories, but I think this was a good perspective to bring things back to.