Consumer Psychology and how to adapt to the times
Remember the good ol’ days when the only way you knew that a new product has hit the market is by seeing their flashy TV ads. The more flashy and loud they were, the more you were bought into it. A lot has changed in the past few years. The Internet Age has evolved us as consumers. Our strategies are better thought out now. Everyone Googles a brand at least once to learn, before buying it. As technology changes so do we.
This is the Age of the Consumer. No one buys noisy ads anymore. A learned audience would rather do their own research and come to their own conclusion. Smartphones, Social Networks and the ever-growing need to fit in has made shifted the culture.
According to research by Eric Pratt from RevenueRiver, there are 3 major factors contributing to the shift in consumer behavior.
1. People spend more time online than they do offline.
Although a pretty dark and disturbing thought to get your mind around, today’s millennials would rather text someone than spend time making conversation with a person nearby. This is the reality we live in. People enjoy being connected and be part of the conversation. They never want to feel left out on a trend. As an entrepreneur, our minds would like to know the most efficient way to market to the new generation. It sure as hell wouldn’t be through pamphlets that they are gonna crumple without even thinking. Various demographics spend different times on different online activities. A teenager would be addicted to her social media feed while her dad would be reading the news online. Marketing the right products on the right platform at the right time is the bullseye you should aim for.
2. Everyone owns a mobile
From the CEO of a multimillion-dollar real-estate empire to your vegetable vendor, everyone uses a mobile these days. With the ever-growing number of mobile users, it would be a sin to neglect this sector. Making sure your online business is optimized to the mobile users can reap you guaranteed benefits. A website more suited for a smaller screen or an app that can notify your users of your latest products is a boon in this competitive environment.
3. Blind trust in Search Engines
People are more ready to believe anonymous reviews about your product online than hear it from the man himself. Whats the first thing you do before thinking of buying a new bike. Most of us go online and read all the reviews that we can. Reading different perspectives from all kinds of users gives us a more well-rounded idea on whether the bike will suit us or not. Investing time and money on SEO will never be negative. This makes sure that whenever a potential consumer Googles or Bings you, they see the best of your brand. All those fake negative reviews and shady links will be replaced with more productive links. This gives a sense of authenticity for your brand, remember, you can have the best quality product and even then be hit by negative reviews. It’s just how the market works; being ready to tackle all kinds of situations beforehand will set your brand apart.
The digital standing for a brand is very important in today’s world. People seek instant gratification, and to meet these raising bars of trust, you should invest in an authentic marketing strategist. Traditional channels are not dead and will definitely serve you good, but a better knowledge of the current market trends will give you a more broad approach to reaching out to the toughest of customers.
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