The changing face of consumer behaviour in the digital age FOR BCOM , CA, CMA CA, MCOM,, PG , MBA STUDENTS
- 1. The Changing Face of Consumer Behavior in the era of Digital Marketing BY CMA BIBEK KUMAR
- 2. Marketing paradigm has undergone a sea change over the past decade. The internet has a profound impact on various industries but very few industries have witnessed a metamorphosis like marketing.
- 3. Gone are the days when knocking on doors or cold calling was considered the easiest and most effective way of reaching out to consumers. Marketing professional back in 90’s and 00’s would have scoffed at the very idea that a decade or two decades later, companies would be able to run real time marketing campaigns. No one would have harbored such thoughts.
- 4. Today, technology is changing the ways in which marketers and consumers interact, as well as offering a mind-boggling range of new options. At the end of the day, though, the challenge remains the same. Marketers must seed information into the marketplace, identify interested consumers, engage those consumers in conversation, and then convert them into purchasers and users of the final product.
- 5. Empowered consumers Today’s consumers are more enlightened and empowered. They are constantly being flooded with more digital content than ever before. A huge number of brands are available at consumer’s fingertips. Consumers have become more demanding. They know more than ever about what they want, how they want it and from whom they want.
- 6. The digital world has made consumers quite impatient, impulsive and they seek immediate gratification. They want immediate services and real- time virtual dialogue with their brands. Next-day delivery is being overtaken by ever-faster delivery possibilities for the shopper.
- 7. Technology makes it easier to reach out to the masses, the rapidly-changing message space presents consumers with even more options, and more opportunities to turn away from marketing messages. The internet and mobile phones, for example, put an immense amount of power in the hands of consumers, and social media gives them a voice to make themselves heard.
- 8. This can work positively, because satisfied customers can be your best advocates, but can also make the marketer’s job more challenging as they have to address more immediately the concerns of the unhappy.