The ECO-system changes the way we do business

How can a company better understand its customers' buying behaviour? ECO-system is one tool that provides a means of conceptualizing the behavior of one's customer as they move through the sales process.

At the event, Digital Optimization for Business, Thomas Eskildsen, CEO at OMD Aarhus, talked about how his company uses the ECO-system to understand its customers' buying behavior and make them buy the company's products.

To get a understanding of the ECO-system we will give you an example below:
If your company is selling paint, you want to catch the customers who are going to paint their home, and get them to use your paint. The customer starts in the out of market phase, in the middle of the model. Here the customer doesn’t have a need for paint yet and is therefore not interesting for you. After some time, the customer needs something painted, which is a trigger. They start to wonder what kind of paint they need, and start googling it. This is the initial considerations phase. After a while in this phase, they move on to the information seeking phase, where they have decided on a type of paint, but not what brand. It is in this phase that you, as a company, need to be visible, and let the customer know who you are.

From that phase, they move on to the buying phase, where they decide what to buy and who to buy it from. Afterwards they move on to the right side of the model, where the experience of the company they are buying from is. What you, as a company, were selling in the buying phase, needs to be the same things as what they experienced when they got the product. If it does, the customer becomes loyal to your product, and would probably choose it the next time they need paint.

Thomas Eskildsen also talked about using the customer's drive to understand their position on the model and how they can move them closer to a final purchase. This means that the drive they show in each step of the model, helps them move on to the next phase.

The three stages of the customer drive:
1. Low drive: The customer is not on the market yet and is not looking for something to buy. Your company should understand which buttons to press in this phase. This means that they are in the out of market phase.
2. Medium drive: The customer is affected by some triggers (such as advertising), and is starting to move towards initial considerations. You need to lead them towards your company with these triggers. When in the medium drive stage, they are affected by triggers and are ready to seek information.
3. High drive: The customer is actively motivated and is ready to buy some of your products. Your company needs to lead the way for the customer, towards the final purchase. This means that they are in the information seeking phase.

Understanding how the user searches
The use of regular campaigns and shopping campaigns

After a short break, Mads Terp, Group Director at Resolution talked about different search words and what they could be used for. Using both search words analytics and the ECO-system, you can get a good understanding of your customer. Mads Terp introduced the new kid on the block, which is shopping campaigns. Shopping campaigns are those campaigns you see on the right-hand at the top side of Google, with pictures and prices. An example is shown below. These shopping campaigns are constructed by online feeds. They provide the searcher with the product information easily and quickly, without all the trouble of visiting each page.

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Photo from Google.

Mads Terp thinks that by January 2018, regular campaigns, which are the first results you see on Google, and shopping campaigns will collide. Therefore, you should consider changing your regular campaigns to shopping campaigns, because those are the future, according to Mads Terp.

Key points:

  • The ECO-system and its use
  • Using search words to understand, where to brand.
  • Using shopping campaigns to let the customer get information about your product faster.

This article was written based on the event - Den forretningsnære digitale optimering (Digital Optimisation for Business).

Written by: Camilla Toft Pedersen & Anne Sofie Kjeldgaard