How customer behavior on the Internet has changed
Digital technologies allow potential customers to access the information they need to make informed decisions anytime, anywhere. Once customers have gained this power, they have become skeptical of those who try to impress them and get them to buy.
You might be interested! TOP 10 digital marketing trends for 2021
Information + Choice = Power
In a Google-dominated environment, the influence of brands , marketers, and retailers on customer decisions is rapidly diminishing. Customers increasingly base their decisions on reviews from other users or use price comparison tools. Stanford professors Itamar Simonson and Emanuel Rosen argue in their book Absolute Value that customers are influenced by two sources of information, which they refer to as Source M and Source O :
M ( Marketers ) = marketing information tajikistan email list sources, e.g. advertising, branding, product presentation.
O ( Other ) = information that buyers obtain from other sources, e.g. from friends and colleagues.
Comparison of two information sources. Image from the book Secret Sauce
Figure 1: Which way does the scale tip? Customers trust source O more than source M. Source: Harry Mills, Secret Sauce: How to Pack Your Messages with Persuasive Punch , AMACOM, 2017.
Everyone knows Google, but have you also heard of the search engine DuckDuckGo ?
Consumer decisions are increasingly influenced by sources marked O . Customers use them in the following cases:
2. The purchase decision involves increased risk and a certain degree of uncertainty.
What do customers base their decisions on?
-
- Posts: 295
- Joined: Sun Dec 22, 2024 3:30 am