Running a business in the digital age: 5 consumer habits developing in the digital revolution
We are living through an incredibly exciting time, where history is being made through technological changes and advances. What a time to be alive! In 1973 the first mobile phone was invented, and in under 50 years we have witnessed a “brick” phone which could only make calls evolve into a palm sized life essential, which we can do pretty much anything on from anywhere in the world. Not only has the mobile phone developed but also the internet and computers, laptops and tablets. You can now even access the internet from your watch, or browse the web through voice activated search engines!
It isn’t just our personal lives these technological advances have enhanced, but from a business point of view there has been an increase of opportunities. With these opportunities becoming more accessible this naturally means there is more competition than ever before, and more choice from consumers. To ensure your business stands out from the crowded market, you must be aware of the changes for both business and consumers that are happening as a result of the digital revolution. As a business you can’t afford to get left behind in the technological race, with the range of social media platforms, apps and other digital tools growing fast pace. We’ve simplified some of the key changes in consumer habits you need to be aware of to keep you on top of your game.
1. Lack of brand loyalty
If a customer doesn’t feel your service or product is outstanding, you can be replaced with the touch of a finger. This means that now more than ever it is essential to really go that extra mile for your customers, offer them that extra delight. What you offer will depend on the nature of your business. For example, as a restaurant you can impress your customers with the littlest of touches like a complimentary chocolates or sweets at the end of their meal.
2. Customer reviews
When we took a look at Generation Z’s consumer habits, we discussed the growing trend of online reviews. This is not just a consumer habit exclusive to Generation Z, people are reviewing absolutely everything online, both good and bad as well as actively seeking online before making purchase. So from a business perspective what does this mean for you? In an ideal world you would receive only positive reviews, but of course that is not always the case. If you do receive negative comments online the best way to combat these to avoid loss of custom is not to delete the negative comments. Engaging with negative comments by thanking comments and explaining how you plan to fix issues. This demonstrates that you care about your customers and want to offer solutions. It is reported that the social media platform which consumers interact with brands on the most is Twitter, and is ideal for start-up businesses.
3. Customers are now more informed than ever
Consumers are now more digitally savvy than ever before. The infinite amount of information on the internet on every topic imaginable means that now with the click of a mouse you can know everything you need to know about a certain product. This has now meant that consumers have more leverage than ever before, and companies no longer monopolise the product knowledge.
4. Trying to be an original in a world full of copies
As more and more businesses have realised the importance of digital marketing, having a state of the art website, taking advantage of social media and other tools it is a lot more challenging to stand out of the volume of businesses now online. This is why it is important to be creative with your digital marketing. You can do this by being aware of new features, tools and platforms available and utilise them before businesses have flocked to them. You can keep ahead of the game by subscribing to blogs, sign up to ours here. Doing your own independent research is the key way to keep your business one step ahead.
5. Web-rooming for retailers
Show-rooming has become one of the biggest challenges for retailers with the rise of online shopping. This has led to the trend of web-rooming, where people are able to check out items online before making a purchase in-store. After potential customers have browsed on a web-room they will then make the journey into the store. This is where retailers have the opportunity to build a report with potential customers as well as up sell, or even convert them into long term customers. Online stores are a platform to provide the same service and knowledge as staff can in bricks and mortar stores. Web-rooms are a great way to display products attractively
and really catch potential customer’s attention, and don’t rely on footfall or reputation as show-rooms do.
- Which company do you see thriving from the digital revolution?
- What is your business doing differently to make you stand out in the digital age?
- What is your favourite digital tool for your business?
We’re really interested in your comments and insights on this! Please share in the comments box below.
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