The author lists digital marketing strategies for marketers as consumers become very good researchers when it comes to making purchasing decisions.
Oct 28, 2022 08:02:00 AM | paper | | Asta Beacham
Whereas traditional marketing sticks to local, at most national, audiences, digital marketing expands the market by targeting everyone who goes online. According to a McKinsey report, “The Covid-19 crisis has accelerated the digitization of customer interactions globally for several years.”
The first rule of marketing is to make the right offer at the right place at the right time. Digital marketing helps brands do just that by reaching their ideal customers online.
Today, a healthy digital marketing mix consists of email marketing, content marketing, social media marketing, lead generation campaigns, search engine optimization, digital outdoors, online PR, mobile marketing, branded content and influencer marketing.
What is consumer behavior?
Consumer behavior is the study of how people make decisions about what to buy, what they want, need, or do in relation to a product, service, or company. Understanding consumer behavior is a key component of your marketing strategy. Knowing what consumers want or are likely to buy can help brands improve their marketing communications, improve customer retention, increase loyalty, and increase sales.
Changes in consumer decision-making
Many brands were forced into e-commerce during the covid-19 pandemic. The result has been a surge in e-commerce business and an increase in digital marketing spending by brands. Digital marketing allows brands to do what they do best.
Consumers are now free to seek information and evaluate products and services against a vast array of options, keeping factors such as price, availability, customer service, discounts and offers in mind. The facts have changed consumer behavior. Consumers still go through the marketing stages of awareness, consideration, conversion, loyalty and advocacy, but today’s buying journey is no longer a linear path. Consumers go back and forth between stages as they move from the consideration stage to the “evaluate” stage before making an actual purchase. Also, after purchasing a product or service, consumers value the experience that plays an important role in their next purchase journey.
The Role of Digital Marketing in Shaping Customer Journeys
Consumers have become very good researchers when it comes to purchasing decisions. The amount of information available on the net has allowed us to draw conclusions by comparing different brands.
Word of mouth remains the number one factor influencing consumer behavior. However, it is now called “Review”. Before the digital marketing revolution, consumers were loyal to brands. This is because they weren’t exposed to the wide range of products and services they have today. Today’s consumers do not hesitate to switch from their go-to brand to an entirely new brand.
Thanks to the constant penetration of mobile technology and the internet, consumers are now able to instantly share their opinions with brands. Artificial intelligence is a powerful medium for enabling consumers, especially convenience-seekers, to make better choices.
Digital marketing has increased the phenomenon of impulse buying. Brands highlight attractive deals, discounts and offers online that customers are happy to explore. Value propositions such as free shipping, hassle-free exchanges, and next-day delivery have raised consumer expectations around the world.
Digital marketing has made consumers accustomed to personalized shopping experiences. Consumers now don’t want to spend time traveling from one place to another to make a purchase decision.
Only change is constant, especially in the rapidly changing digital world. With the sheer amount of data available today, brands can really narrow down their segments and find the audiences that offer the best ROAS. A better understanding always helps marketers run more effective campaigns.
The author is RevUp Business Director at Puretech Digital.