For Subscribers

Tracking Online Consumer Behavior for Improved Marketing Strategies

Bill Tancer knows exactly where online consumers are going and when. Don't you want to know, too?

By Lindsay Holloway

Opinions expressed by Entrepreneur contributors are their own.

As general manager of global research for Hitwise, an online market research firm, Bill Tancer monitors the daily online behavior of more than 10 million internet users, tracking what, when and how they search. In the past, businesses relied solely on surveys to understand consumer behavior, explains Tancer, but examining "actual behavior is much more insightful than asking people how they behave. To market effectively today, you have to understand how your potential customers are behaving online."

So how are they behaving? "Our data often reveals that people think about things earlier and in slightly different ways than we think they do," says Tancer, author of Click: What Millions of People Do Online and Why It Matters. "As an entrepreneur, you want to know this because you want to be in front of consumers then." He points to an example involving prom dresses: Boutiques typically start marketing to buyers in March, yet data shows that buyers start shopping as early as January.

Looking to paid companies like Hitwise or free data sources like Google Trends are options, but Tancer also emphasizes paying close attention to your own site-centric data, search logs and click streams.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

This 61-Year-Old Grandma Who Made $35,000 in the Medical Field Now Earns 7 Figures in Retirement
A 'Quiet Promotion' Will Cost You a Lot — Use This Expert's 4-Step Strategy to Avoid It
3 Red Flags on Your LinkedIn Profile That Scare Clients Away
'Everyone Is Freaking Out.' What's Going On With Silicon Valley Bank? Federal Government Takes Control.
Leadership

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Business News

'Things Will Go Wrong.' Google Releases Its Chatbot Bard With Caution.

The AI-powered search tool went live today to a limited number of users in the U.S. and the U.K.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.

Marketing

How Do I Know I'm Getting the Most Out of My Business? The Answer Is Obvious — Yet Overlooked.

Explore how you can leverage first-party data to drive better results and make more informed decisions.