Wednesday, February 5, 2020

Electronic Marketing Demographics

     Digital marketing has changed so much, often the greatest path forward it is best to step back and look at the broad landscape... the demographics of digital marketing if you may. To do this, I often look at summary reports from the best in the business. Below I lay out some of the biggest findings from a Razorfish report I love entitled "Digital Dopamine: 2015 Global Electronic Marketing Report".

According to Razorfish, "Ideas that were once dominant now encounter irrelevance, as new digital advancements displace them. This transformation happens rapidly, and marketers are constantly struggling to keep up. Therefore , in preparing for tomorrow, Razorfish took the deep dive into the qualitative plus quantitative data of four international markets (the United States, the United Kingdom, Cina, Brazil) to examine the ways in which digital technology is shifting traditional brand-consumer relationships. From uncovering global business expectations to identifying the effect associated with digital on our subconscious, this analysis set out to expose the key trends shaping marketing. "

What did Razorfish find in terms of how digital advertising was used in 2015? Here are a few of their key findings.

1 . GENERATIONAL CHASM

Mobile dominates the Millennial shopping experience. A Millennial's smartphone can be their key to the world. Since mobile payment technology grows, mobile is going to become an even more important portion of the overall brand and retail encounter. Millennials draw no practical variation between online and offline.

Millennials' constantly connected smartphones mean they no more see a difference between "online" and "offline. " Technology has become a fundamental element of their lives, and it is how they connect to and experience brands, even when in traditionally "offline" environments. They don't use media in silos. Rather, each uses all of the tools at their convenience at any given time, regardless of the device or system.

Millennials are redefining privacy anticipations. When compared to Gen X, Millennials may trust brands to protect their privacy-and less likely to think that mobile targeting is an invasion of privacy.

Arrange for the Gen X / Style Y digital divide. Millennials prospect the pack when it comes to the use of technology, outpacing their Style X counterparts in nearly every electronic activity on a daily basis. Gen X-led businesses need to ensure that their brand encounters align with Millennials' tech-led lifestyles and that digital isn't simply a good afterthought in the brand planning procedure. Target carefully and with purpose.
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2 . THE DIGITAL EXPERIENCE ECONOMY:

Consumers are actively avoiding advertising. Consumers in all four markets (United States, United Kingdom, Brazil, China) report doing everything they can to avoid seeing advertising, and many are utilizing tools like DVRs to help them succeed.

Advertising is best when it is part of a value trade. Consumers are now aware of how much their attention is worth to marketers, and so they expect to be rewarded for it. They look to be compensated with dedication programs, free content or helpful tools that solve problems.

Brazilian still has a cultural affinity to traditional advertising. Interestingly, Brazil remains more receptive to advertising compared to any of the other markets. Fifty-seven percent of Brazilian consumers endorse TELEVISION, radio and print ads because the most influential source of advertising. Therefore , it is important to understand that adding value means different things to different cultures.

Make yourself helpful. Brands need to offer their customers services beyond core products and add some real value to peoples' lifestyles, if they are not already. Consumers are more prone to stick with a brand if they feel much more their lives easier.

3. SEAMLESS COMMERCE

Digital is the new storefront. A good e-commerce site is not just a nice-to-have; it has a major impact on your own brand. The numbers speak for themselves: 84% of people in Brazil and 92% of people in China say that an undesirable brand website negatively impacts their own opinion of the brand. Seventy-three percent and 79% of people in the U. S. and U. K., respectively, agree.

Current e-commerce experiences fall short of expectations. Even with the huge accomplishments made in the evolution of commerce, consumers are still not impressed. Current e-commerce experiences, return procedures and shipping options are falling flat in cultivating satisfied clients.

Consumer journeys are peppered along with dead ends. Although consumers no more view a distinction between on the web and offline brand channels, brands are certainly not yet structured to support this perspective. This creates a tension between what consumers want and what brands are usually providing, forcing consumers to jury-rig solutions.

Empower your customer. Rigid returns policies, in particular, are a main point of friction in both the internet and offline retail experiences. A good return policy is an easy method to differentiate your brand from the competition, build loyalty and earn trust.

4. DIGITAL CONDITIONING

Consumers confess to technology dependence. Over three-quarters of consumers in all four of the markets surveyed admitted to often feeling dependent on technology. Many elements are cited for the development of this reliance, including utility, connectivity and the good emotions they associate with it.

We have been exposed to digital classical conditioning. As proven by Pavlov, repeatedly pairing two cues can elicit a classically conditioned response. This is equally true for many consumers who make use of smartphones-the light or sound emitted from the device triggers a response of immediate attention.

Instant gratification is not really always preferred. Remarkably, consumers in most four markets reported more enthusiasm when receiving a purchase in the mail than when buying in the store. This illuminates an interesting aspect of shopping which is specific to e-commerce- the power associated with pleasurable anticipation and delayed gratification.

Use "surprises and delights" to your advantage. Without turning brand communications into a carnival of push notifications plus flashing buttons, you can still make pleasurable moments of anticipation around routine events for a brand. Smart marketers will play around with online game mechanics in the shopping and purchasing process, while ensuring it doesn't interfere with simplicity and service.

5. GROWING MARKETS IN THE FAST LANE

Customers in Brazil and China are usually tech-hungry early adopters. This data shows that Internet users in these markets depend on technology for every part of their lifestyles and continually look for more methods to integrate it.

Consumers in nations with lower Internet penetration may be the most demanding online. There are suddenly high expectations for digital services and websites in countries with lower Internet penetration. In particular, there exists a very strong desire in Brazil plus China for e-commerce to improve.   

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