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How Do We Live In This New Digital World?

How Do We Live In This New Digital World?

‘Necessity is the mother of invention’, said Plato and he said it right. Our demands drive every industry on the planet. However, with every invention comes a new requirement. We had cell phones. Later, we needed chargers, then cases, and this goes on and on. At first, the required product or service was difficult to reach, but with digitalisation, clients now have more options and solutions. Ongoing digitization began with the introduction of digital technology. The introduction of new technologies has disrupted many of our established processes, requiring significant business and marketing transformations.

The growth of e-commerce accelerated in the late 1990s, offset by the emergence and widespread use of the Internet and the World Wide Web, and the advent of an increasing number of supporting technologies. Considering that we now live in another digitalized world, what other needs do clients have and is client behavior the same as in the traditional world? Is it true what we now know about the impact of digital transformation on client behavior? How does digital transformation affect the way businesses and consumers communicate? What are the challenges of digital transformation and what do we not know yet? There are many ways to explain these questions, so let’s take a look.

Consumers are affected by digitization because the way they transmit, receive and distribute information about products and/or services, as well as the way they purchase and consume them, has changed dramatically. Before the whole digitalized world, clients were only going to the store. But now they have the ability to search for more, compare services, and clients are impressed now that we have influencers. Obviously, you can consider buying online, conveniently finding and comparing product offers from various suppliers, posting and reviewing online reviews to be updated, or joining the showroom that gathers offline information about certain things before purchasing online.Staying connected also makes it much easier to shop online or communicate with businesses via email or social media. And of course, the corona pandemic has accelerated many more digital innovations. It showed that many businesses and clients need to embrace new technology and go online.

Ultimately, the digital age has allowed us to continue working and connecting with each other as we move online (or even further).

Digitization has produced some of the most important shifts in consumer behavior such as:

1) increase the importance of requirements;

2) increase client independence;

3) change in the consumer behavior model

In addition, new media empowers clients to promote and disseminate their offerings. Following the advent of digital technology, countless new media have emerged that offer consumers a variety of options to be more engaged, connected, empowered and educated. Furthermore, clients are offered a number of alternatives to provide information to others and make communicating with each other online simple and convenient. For example, digital technologies allow clients to help other individuals by publishing client feedback or to co-create benefits by inventing and/or modifying items. With the launch of new distribution or communication channels that allow clients to buy from virtually anywhere, anyone, anytime, businesses face both possibilities and challenges.

Changing consumer behavior model

The traditional market model of consumer behavior worked like this: a client recognizes a need, then chooses a bank for the service, and finally chooses an ideal product for him in that market.

In the era of digitization, the second and third processes are reversed: the client first selects the product using the Internet, then turns to the organization whose financial product best meets the client’s needs. It has been proven especially in a Google research that a client’s internet research is done before a product is purchased today. Zero Moment of Truth gets its name from this online decision-making moment.

Impact of Social Media On Consumer Behavior

Consumer behavior is significantly influenced by social media reviews.

Social media is an ever-changing source of social proof and this is a very important factor to consider when making a purchase. More than half (51%) of consumers check comments on forums or social media before purchasing a product or service. With just one or two negative comments, a potential client may be put off.

Clients want brands to communicate with them in both directions. Thanks to social media, the connection between a company and its clients has taken on a new dimension. A brand is no longer a distant, faceless entity that we only learn about in books or Google searches. You can learn about brand’s beliefs, current news and products, its relationship with its target audience, by analyzing its network.

Clients utilize social media for client service.

Before social media, how would you expect to communicate with a brand’s client service department? By phoning, writing, visiting, waiting in line to see them face to face, etc. ways you can contact. Consumers now choose to interact with them through social media when they have a problem or issue with a brand’s service.

Prior to the digital transition, the channels through which businesses and consumers could purchase goods and/or services were limited

and geographically restricted. The resulting Internet channels coexisted with physical networks. The introduction of new media in recent years has had a significant impact on consumer-firm communication. These environments are digital, proactive, visible to others, real-time and memorized, ubiquitous, accessible from anywhere at any time via mobile devices, and can be used to connect to networks.

As you can see, things are now much easier on the one hand, and much more difficult on the other. Your clients used to come directly to you and buy the product or service, but now they have many options. Thanks to the internet, they can thoroughly research you and the product/service they want and compare them with others, the good/bad comments they hear about your brand affect their preference, and the most important point is that they can contact you directly. The most important thing that can be done as a brand in this digitalized world is to present your identity to your clients in an accurate and eye-catching way.

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