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More than 78 percent of Americans access the Internet (ITU 2010)
today to search for everything from recipes to remedies and share and
follow lives on social network s. The explosive growth of Internet and
capacity-rich broadband network access has created a new age of
digitally-savvy consumers, who have broadened and sped up the
traditional consumer decision making process on product and service
purchases.
The five-step traditional consumer decision making process traditionally began when a consumer realized a significant difference between his or her current state and a desired or ideal state. That realization usually was stirred by impactful advertising on television and in special interest magazines. Word of mouth also contributed, but people were generally less influenced by a smaller physical network of family and friends. The social media revolution has changed consumer marketing in a profound way, mainly because advertising - whether online or offline - is only part of how consumers are motivated to alter their status quo.
Consumer-generated media on social networks like Facebook, Google+, Twitter, Blogger, YouTube and Flickr have either augmented or demoted marketer messages, providing digital consumers with different perspectives on the perceived benefits and risks of acquiring a product or contracting a service. Contributions and commentary by other consumers are intercepting those thoughts of existing and desired state.
The information posted by other consumers also has a profound impact on the information search and evaluation of alternatives steps in the consumer decision making process. Because consumers know they can access independent consumer oriented product review sites like Consumer Reports and Ripoff Report, those are increasingly becoming the first actions taken in the gathering of intelligence about a desired product. With just a few clicks, consumers can amass a wealth of information, almost as if they'd personally surveyed thousands of users.
Today's digital rainmakers can better understand the criteria consumers use in evaluating product alternatives by conducting efficient online focus groups, surveys and instant feedback sessions via text and instant messaging platforms. Unlike in years past, this important marketing research data can be acquired rapidly. Digital rainmakers can also gauge how consumers are evaluating alternatives by their search queries online. Trackable browser "cookies" (text files) provide information on sites visited, navigation through sites and amount of time spent on specific pages.
This has a benefit to consumers because it helps marketers serve up only relevant content and product information each time the user visits sites or conducts searches online. So, the evaluation of alternatives stage of the consumer decision making process can be dramatically sped up in today's digital environment.
One the consumer evaluates his or her alternatives, they enter the final product choice and purchase phase. Here again, a few mouse clicks has made product purchase a much faster process. If 2011 statistics ($150 Billion in sales) are any indication, online shopping will continue to increase in popularity as consumers become more comfortable, security measures are strengthened and the proliferation of handheld devices like smartphones and tablets become the retail instrument of choice.
One recent important development in the retail industry is also contributing to the lightning quick consumer decision making process. Many mobile shopping apps today enable users to scan specific product barcodes to determine the best deals available, practically eliminating the traditional "buyer's remorse". Thus, retailers can instantly lose a sale while the consumer is physically in the store because of competitive product information they can acquire by being digitally connected. Today, almost every type of retailer imaginable provides consumers an opportunity to purchase product online. The consumer 's ability to acquire product online wipes out any competitive advantages that strategically-based retailers used to leverage.
Today's consumers are digitally-savvy and that has fueled enormous change in the way effective marketing strategies are developed and implemented. One of the most important changes has been a recognition of how much the consumer decision making process has evolved.
The five-step traditional consumer decision making process traditionally began when a consumer realized a significant difference between his or her current state and a desired or ideal state. That realization usually was stirred by impactful advertising on television and in special interest magazines. Word of mouth also contributed, but people were generally less influenced by a smaller physical network of family and friends. The social media revolution has changed consumer marketing in a profound way, mainly because advertising - whether online or offline - is only part of how consumers are motivated to alter their status quo.
Consumer-generated media on social networks like Facebook, Google+, Twitter, Blogger, YouTube and Flickr have either augmented or demoted marketer messages, providing digital consumers with different perspectives on the perceived benefits and risks of acquiring a product or contracting a service. Contributions and commentary by other consumers are intercepting those thoughts of existing and desired state.
The information posted by other consumers also has a profound impact on the information search and evaluation of alternatives steps in the consumer decision making process. Because consumers know they can access independent consumer oriented product review sites like Consumer Reports and Ripoff Report, those are increasingly becoming the first actions taken in the gathering of intelligence about a desired product. With just a few clicks, consumers can amass a wealth of information, almost as if they'd personally surveyed thousands of users.
Today's digital rainmakers can better understand the criteria consumers use in evaluating product alternatives by conducting efficient online focus groups, surveys and instant feedback sessions via text and instant messaging platforms. Unlike in years past, this important marketing research data can be acquired rapidly. Digital rainmakers can also gauge how consumers are evaluating alternatives by their search queries online. Trackable browser "cookies" (text files) provide information on sites visited, navigation through sites and amount of time spent on specific pages.
This has a benefit to consumers because it helps marketers serve up only relevant content and product information each time the user visits sites or conducts searches online. So, the evaluation of alternatives stage of the consumer decision making process can be dramatically sped up in today's digital environment.
One the consumer evaluates his or her alternatives, they enter the final product choice and purchase phase. Here again, a few mouse clicks has made product purchase a much faster process. If 2011 statistics ($150 Billion in sales) are any indication, online shopping will continue to increase in popularity as consumers become more comfortable, security measures are strengthened and the proliferation of handheld devices like smartphones and tablets become the retail instrument of choice.
One recent important development in the retail industry is also contributing to the lightning quick consumer decision making process. Many mobile shopping apps today enable users to scan specific product barcodes to determine the best deals available, practically eliminating the traditional "buyer's remorse". Thus, retailers can instantly lose a sale while the consumer is physically in the store because of competitive product information they can acquire by being digitally connected. Today, almost every type of retailer imaginable provides consumers an opportunity to purchase product online. The consumer 's ability to acquire product online wipes out any competitive advantages that strategically-based retailers used to leverage.
Today's consumers are digitally-savvy and that has fueled enormous change in the way effective marketing strategies are developed and implemented. One of the most important changes has been a recognition of how much the consumer decision making process has evolved.
Al Quintana, aka, The Digital Raindance http://www.thedigitalraindance.com
is a marketing and communications expert who has developed
award-winning campaigns based on measurable business value for global
brands and small businesses. As an adjunct professor of marketing, his
expert blog highlights best practices in digital, social media marketing
and new platforms that create new customer leads, improve existing
customer engagement and secure conversions. Read and register for email
updates at The Digital Raindance blog.
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