Factors Influencing Consumer Behavior

“We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.” -Bill Gates

The internet has an immense impact on marketing strategies which has undergone a sea change in the past few decades.

Digital marketing has managed to achieve new heights with the boom in smart phones and tabs in such an effective way that marketers who couldn’t even think of promoting their business online are adopting all the aspects of digital marketing.

However, as a marketer, you have to understand every little detail of the consumer behavior and how digital marketing impacts the consumer behavior. It varies according to the product, quality, features, packaging, price, generation, the age of the customer, buying behavior, status etc.

Here are some insights that will help you as a marketer to understand the impact of digital marketing on consumer behavior:

1. The consumers like to experiment-

People like to try fresh and new products but they have trust issues before going for any new product. Feedback provided by the experienced consumers has helped in changing the mindset of the customers. And thus numerous start-ups are flourishing today because of the awareness created by digital marketing.

2. Consumers have become very demanding

Consumers nowadays have a lot of option to choose from and hence it has become quite hard to convince them. They compare your products with that of other competitors and will finally buy the one that suits them the most in terms of all the elements. So, to become the first choice you will have to make sure that your digital presence, especially on the social media, is never compromised.

3. They decide the social media platform for a brand

Social media has always been useful for a start-up and it is the customer who decides which social media platform they should use for the expansion of their business. If you want to be close to your prospect and stay a step ahead of your competitors, then it is mandatory for your brand to have a presence in the social platform that is being used by the consumers.

4. They are never loyal!

People used to trust and stick to a product for a specific industry in the past decades but now when there are a plethora of options available in the market they are likely to switch to others. Better products, features and marketing strategies of other companies make consumers bound to switch to their products.

5. They want an immediate reaction to their actions

Consumers have reduced the tolerance level and want their queries and problems to be solved quickly. They are likely to share a negative review which can destroy the repo of a brand easily. As marketers noticed, consumers mostly share negative reviews of a brand which competitors can misuse and people get attracted towards the negative points more than the positive ones.

Accept the change and cope with it to become successful

Internet and digital marketing have given both consumers and marketers the opportunity to evolve. While consumers are learning and evolving at light speed, as a marketer you will have to adopt the digital marketing strategies well and understand the steps of consumer behavior. Success comes to those who think differently and stay unique than others. As Jonathan Midenhall says, “Amazing things will happen when you listen to the customer and serve them the right thing at the right moment”.