Opinion: The Growing Impact Of Digital Marketing On Consumer Behaviour
As consumers become exceptionally good researchers when it comes to making a purchase decision, the author lists digital marketing strategies for marketers.
October 28, 2022 08:02:00 | Items | Ashtha Beecham
While traditional marketing is limited to a local, at most national, audience, digital marketing, on the other hand, expands the market to reach everyone who connects online. According to a McKinsey report, “The Covid-19 crisis has accelerated the digitization of customer interactions around the world by years.”
The first rule of marketing is to have the right offer in the right place at the right time. Digital marketing helps brands reach their ideal customers where they are today: ONLINE.
A healthy digital marketing mix today includes email marketing, content marketing, social media marketing, lead generation campaigns, search engine optimization, digital outdoor, public relations online, mobile marketing, online content, branding and influencer marketing.
What is consumer behavior?
Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in relation to a product, service, or business. Understanding consumer behavior is a key part of any marketing strategy. Knowing what their consumers want or are likely to buy helps brands manage better marketing communications, increase customer engagement, increase loyalty, and increase sales.
Change in consumer decision making
During the Covid-19 pandemic, many brands were forced to launch into e-commerce. This has led to a surge in e-commerce business and with it increased spending on branded digital marketing. Digital marketing allows brands to show their best side.
The fact that consumers are now free to seek information and evaluate a product or service based on so many options, taking into account factors such as price, availability, customer service, discounts and offers, has changed consumer behavior. Today, as consumers continue to progress through the marketing stages of awareness, consideration, conversion, loyalty, and promotion, the path to purchase is no longer a linear journey. Consumers move through the stages from the consideration stage to the “evaluation” stage before making the actual purchase. And after purchasing a product or service, consumers value the experience as an important part of their next shopping journey.
The role of digital marketing in shaping the consumer journey
Consumers have become particularly good researchers when it comes to making purchasing decisions. The amount of information available on the internet allowed them to compare themselves to different brands and come to a conclusion.
Word of mouth remains the number one factor influencing consumer behavior. Except now it's called "Review". Before the digital marketing revolution, consumers were loyal to a brand. This is because they weren't exposed to a wide variety of products and services like they are today. Today, consumers are not shy about swapping their popular brands for brand new ones.
Thanks to the relentless proliferation of mobile technology and the internet, consumers can now instantly share their views with their brands. Artificial intelligence is a powerful tool that enables consumers to make better decisions, especially those seeking convenience.
Digital marketing has integrated the phenomena of impulse buying. Brands highlight great deals, discounts and online offers that customers love to explore. Value propositions such as free shipping, hassle-free returns and next day delivery are raising the expectations of consumers around the world.
Digital marketing has accustomed consumers to a personalized shopping experience. Consumers no longer want to waste time going from place to place to make their purchase decision.
Change is the only constant, especially in a rapidly changing digital world. There's so much data available today that brands can really hone in on their segments and find an audience that generates the best return on ad spend. But a better understanding of changing consumer behavior will always help advertisers run more effective campaigns.
The author is Business Manager, RevUp, Puretech Digital
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