Digital Impact!
The Evolution of Digital Marketing
The evolution of the Internet and Digital Technology has, and still is, changing the world drastically at an accelerated rate. We now live in a digital age of information and convenience, with over 62% of the world's population now connected to the internet and over 90% of users accessing from a digital mobile device. In this presentation I will be outlining some of the changes of digital technology and the internet and exploring the impact they have had on consumers lives.
How consumers use technology and its impact on their lives
Intro
Before the internet and the advances of modern day technology, consumers accessed information, shopped/conducted business and communicated in different ways. Consumers and businesses used magazines, newspapers, TV, radio and bricks and mortar business models to shop, conduct business, connect and inform themselves.
The progression of the internet and digital technology has drastically changed this model and therefore the lives of consumers, as well as businesses. In this presentation I shall be focusing on the impacts that the internet and digital technology has had on the lives of the consumer.
The Internet
When the internet first came about, its primary function was to communicate and exchange data. The internet has progressed vastly over the years, however, its primary function is still the same. To communicate information! We now live in a digital age of information where 62% of the world's population (which currently stands at 7.91 billion) access the internet, with 90% of users accessing via a mobile device.
These statistics clearly show the impact the internet and digital technology has had.
Consumers have used the internet and digital technology to improve their lives as it enhances most areas of people's daily activities through its easy instant access to information, instant communication and entertainment. Since 2013, people averagely spend over 6 hours a day on the internet.
Internet speeds have had to improve over the years to keep up with the demand for fast,
accessible and mobile connection.
Digital Devices
Digital technology has changed drastically over the years. It has come a long way from the large, expensive computer. Computers are now small, slick and a lot cheaper in comparison. Digital technology has become integrated into the lives of consumers in various forms, from computers and laptops to smart TVs, MP3 players, E-Readers tablet computers and most impactfully, the smartphone.
These days it is difficult to find someone that does not own a smartphone. Smartphones are user cheap, user friendly, portable and have all the benefits that come with instant access to the internet. Currently 92.1% of internet users come from mobile devices.
Searching for information
Although consumers use digital technology to access the internet for a multitude of purposes and activities, they largely start their digital interactions with the same process… searching for information.
The process of searching for information has three different categories:
Transactional- These consumers have the intent to buy/shop, often product or service specific. (Eg “Beatles discography download or buying/ordering The Beatles vinyl collection)
Informational- These consumers have the intent to acquire information. Often question based searches; who, what, when, where, why. (Eg. “Who are The Beatles?”)
Navigational- These consumers have the intent to reach a specific website or web-page. Usually centred around a particular brand. (Eg. “The Beatles Blog”)
What Consumers Buy Online
These days consumers can buy anything online. As soon as they recognise a need or recognise a problem they want to solve, they can instantly start searching for information on the internet (via their digital devices) for a solution.
Anything can be sold and purchased online these days, from physical items such as clothes, books, cars, to online products and services such as music and video streaming.
This has vastly changed the consumer world. In 2021, over 2.14 billion people used online to conduct purchases. Electronics and fashion are currently the leading categories for consumer goods.
Online Video Consumption
Like online purchasing, online video consumption has also seen a huge growth in trend. Videos currently make up more than 82% of all consumer internet traffic.
People spend an average of 6 hours and 48 minutes watching video content online per week, with 75% of video views coming from mobile devices. It seems that consumers are not just watching video content for entertainment but also to obtain information, likely because video is easier to consume with its audio and visual stimulation, making it easy for people to retain the information they need. Video is the main source of information for 66% of people.
This trend is closely related with the growth in trend of consumers buying online. The vast growth in online video consumption has seen a huge shift in how consumers and businesses interact with each other.
Businesses use the data they collect from consumers online and leverage it to market their products and services to targeted audiences, largely via branded video content. 93% of businesses gain new customers as a direct result of posting branded video content to social media platforms.
This is clear evidence of the importance that video has on consumers' buying habits.
On the flip side of this, online channels such as blogs, vlogs and video have given the consumer a lot of buying power as they now have a direct communication with brands online. This positioning for the customer has given birth to the online “influencer” or “prosumer”, people that are able to champion or discourage other consumers from buying or purchasing products and services from businesses and brands.
Summary
Technology has had an immense impact on consumers' lives. It has fundamentally changed the processes, and people's notions, of consumerism. Most notably, mobile technology has had the biggest impact. For the consumer this has been mostly a positive impact.
Consumers use technology to improve their lives, reaping the benefits of speed, accessibility and convenience, allowing for instant access to information, entertainment, products and services.
Ultimately, consumers now have greater buying power than in previous times. Without even leaving the house, consumers can now access all information, compare prices and reviews before purchasing products and services, quickly fulfilling their needs, wants and demands. This shift has been reinforced by businesses having to react and respond by developing their digital presence and capabilities in order to keep up with consumer trends.
Comments
Post a Comment