A decade feels like a lifetime in the modern world. Think for a moment about the world we lived in 10 years ago. Myspace was the most popular social networking site, and the first iphone had just been released. The incredible growth in technology over the last decade and beyond, has had incredible impacts upon consumer behaviour; and the relationship between the product and consumer.
Predicting and interpreting behaviour change, is integral to the success of marketing efforts. Technology has shifted the power balance from brands to the consumer. It is therefore essential to keep on top of consumer behavioural changes, to ensure that brands are ahead of the curve and connecting in the right way at the right time. Let’s a take a closer look to discover why marketers need to stay adaptive to changes in consumer behaviour.
Modern consumers are accustomed to immediate accessibility and personalised brand experiences. With more digital content available than ever before, marketing professionals need to remain adaptive to changes in consumer expectations.
Constant accessibility to products and services through the digital world, have transformed consumer behaviours and expectations. Marketers therefore need to stay adaptive to the changes in consumer behaviour, as a result of the streamlined and expedited sales processes of the digital world. Sophisticated tools including social media and customer analytics, are key for marketers to ensure that their campaigns personally engage with modern consumers. Businesses can no longer afford to blindly manage their marketing efforts. Failing to remain current and competitive with the customer experiences of competing businesses, is integral to the overall success of any business.
If marketers do not remain up to date with consumer behaviours and desires, they are at risk of damaging their companies bottom line, and producing outdated content. For example, in the late 1990’s, consumers were interested in loud and proud branding. This meant marketing efforts were focused on heavily-logoed and easily identifiable brand merchandise.
The modern consumer however, prefers subtle branding. The consumption and display of wealth is no longer identifiable by a logo or brand image. Loud and proud branding may have been the flavour of the week in the 90’s, but failing to assimilate to changes in consumer attitudes and behaviours, is damaging to any brand and their products.
The Path to Purchase
The key to successful marketing is understanding the current influences which drive a customer to purchase. The influences upon successful conversion rates have transformed in recent years, due to the rise of social media. 10 years ago, marketers could successfully manage their brand image as the dominant voice and influence upon their target audience. Today, marketers must compete with constant and immediate product feedback via social media and online reviews. In fact, 77% of consumers say they read up to 10 reviews before purchasing.
The rise of the consumer voice in the digital world is therefore a key example of the importance of marketers adapting to changes in consumer behaviour. Successful modern brands have leveraged influencer marketing, online brand experience co-ordination and brand reputation strategies, in order to control and monetize digital influences.
From mobile phones to laptops, today’s consumers are using an ever-increasing number of devices to make purchases. As technology has advanced and digital practices have evolved, consumer behaviours throughout the sales cycle, have been transformed forever. Successful and forward-thinking marketers, have acknowledged and found leverage in these changes in consumer behaviour. Data-driven creative processes (creating links between media data and creative marketing execution), is at the front line of the transformation of the marketing industry.
There has undeniably been a dramatic transformation in the way consumers consume media and purchase their products and services. In the modern world, marketing that is not data-enabled and personally relevant, will be drowned out in the consumer noise. Understanding and adapting to changes in consumer behaviour, is therefore essential for every marketing professional to thrive in the industry.