Technology is in continual flux and evolution, and the way customers communicate with technology impacts how they search and how they buy products and services.
As fresh strategies, analytics and search characteristics are being rolled out, let’s not forget that people are the most important segment of the purchase journey.
Today, winning the hearts and minds of consumers requires reassessment of who they are and what they expect from you. To achieve their perfect clients, SMBs need to remain on top of trends and continue to develop their marketing strategy.
Whether your marketing goals are to drive foot traffic to your business or to sell your products online, a cost-effective digital marketing strategy that reaches the right audience and has a measurable impact is critical.
Here are five ways in which today’s customers are evolving and how to alter your marketing perceptions in order to reach them.
1. Emergence of new set of audience demanding your attention.
Just check out these Accenture’s statistics.
- In the U.S., LGBTQ purchasing power presently exceeds $1 trillion.
- By 2021, U. S. minorities will represent 34% of total buying power.
- S. millennials are expected to hold 30% of overall buying power.
- Gen Z is well on its way to affect 40% of consumer spending in 2020
It is time to create fresh value proposals, marketing strategies, and customer experiences that meet these subgroups ‘ distinctive requirements.
By taking the time to comprehend them, embrace this evolving customer landscape and alter your strategies to best fit their lifestyles and expectations. It’s important to keep a wide array of audiences in mind and make sure that you’re marketing is comprehensive.
2. The Importance of Customer Loyalty
Most consumers don’t wait for a bad experience before changing vendors, they’re just waiting for a better experience. Indeed, 44 % of customers would leave current providers if an alternative, comparable provider arose.
You have to upgrade your game in order to not only transform but also to retain customers. Beyond your product or service, new customers expect value.
Interactions on demand and smooth transactions are the norm. Anything counter-intuitive or old-fashioned is going to be left in the dust
3. Technology is embedded in who they are.
Those born in the digital search age are expecting a more nuanced and tailor-made experience and they don’t want to look too hard for it. They’ve always had a computer in their house, they possibly were even given a smart phone as a pre-teen, have been saying interacting via voice with their phones for years, and now with smarter digital assistants.
They also expect near immediate delivery and will switch brands readily to accommodate their time-sensitive requests.
Innovation and comfort are appreciated by new customers. They flourish in mobile settings and expect their physical and digital purchase journeys to effortlessly intersect.
Inherently, cross-over should be integrated into your marketing funnel, leading in a streamlined experience wherever the client is.
4. Personalization is not the exception anymore – it is an expectation
New consumers expect to be hyper-relevant and personalized for every experience with your business. This thought moves past developing a “unique” experience, becoming more of a “me” experience.
Consumers immersed in technology are more prepared to share personal, recognizable data with your product or service for a more personalized experience.
Consumers expect to be recognized and provided a level of engagement that is conversational, friendly, and familiar. They aren’t interested in telling you what they need, because you should already know.
It’s also important to take into account privacy considerations where data is associated, with consumers having concerns about data privacy.
Use the stats these new consumers are so willing to share to build dwelling profiles of customers, using that information to tailor every consumer touch point to be all about them.
Make sure to take suitable steps to keep privacy top of mind as you’re handling customer data though, as data privacy is a concern of many consumers.
5. Data driven decisions
The complexity of consumer decision journey has increased with increase in touch points and engagements with brands pertaining to it.
There are many parameters that can influence a customer’s decision, and there isn’t a single formula to determine them.
Analyzing the consumer decision journey can assist you higher market to your customers to reach and interact with them along that journey.
Take the time to comprehend your customer’s buyer journey and use the improved strategies closely to the journey that you customers take for improved efficiency in campaigns.
Evolve with Your Customers
Winning the new consumer requires more than just creating experiences.
- Understanding your customer.
- Meeting your customers where they are.
- Creating relevant strategies to meet their rising expectations.
Customer-centric marketing strategies can be of assistance to continue to reach your target audience.
Whether you’re a small or a medium-sized business, take benefit of some of the simple, powerful ways you can take action today with your PPC campaigns to up your relevancy, adapt your strategy, and deliver what these emerging audiences necessitate.
Let’s talk and explore variety of digital marketing strategies to build your brand and reach the right people.