DM/U2 Topic 8 Consumer Buying Behaviour in Digital Age
The internet and evolving technologies have dramatically changed the way people do everyday activities like researching, shopping, and banking. The common practice before was going to a physical store to learn more about a product, canvas, and finally purchase. Now, it’s possible to do everything in a few clicks using a smart device. People don’t even have to leave their homes.
Because of these innovations, the consumer buying behavior has changed. The internet has become an authoritative source of information for buyers and an avenue for marketers to advertise their products. To retain customers and increase sales, many brick-and-mortar stores have put up an online version of their shop to keep up with the demands of their customers.
To optimize your marketing efforts and digital presence, it’s important to know how your customers behave online. For instance, research shows that 89% of shoppers look for photos of a specific product online, and this could influence their decision to buy the item. That already suggests that people trust the internet and would consult it first before going to the mall to shop.
Smartphones have also become a shopping assistant to most people. Nearly 60% of shoppers use their devices while in the store so they can get more information about the item, compare prices with other brands, or look for better deals. People have come a long way from relying on salespeople for product information.
Businesses have seen fit to adapt to these changes-and rightly so. Failing to adapt can only result to being left behind by your competitors. Hence, aside from employing digital ads, brick and mortar stores are setting up their e-commerce websites or listing their products in online marketplaces
How Digital Marketing Transformed the Consumer Buying Process
The business model used to be a pretty universal term. The same skeleton applied to many businesses, and it involved a customer becoming aware of a product (billboard, print ad, yellow pages, etc.), speaking with the seller and thinking their purchase over for days (or weeks) after getting a quote, and (hopefully) an eventual purchase. That process could drag on and on, decreasing the likelihood of a sale with each and every passing step of the linear path.
Fortunately for both businesses and consumers, that changed as technology and digital practices evolved, streamlining every step of user behavior and the business model. Now, if someone needs something, they can go online, find exactly what they’re looking for, and have it in just one day. Or, if someone is curious about a product or service, he or she can research online, read reviews from other buyers, and watch product demos before making a purchase.
It’s that kind of accessibility that has changed the business model from its traditional and linear path into a constantly moving target with search and digital marketing at the center.