From the 2008 Digital Outlook Report from Avenue A Razorfish, Clark Kokich, CEO of Avenue A Razorfish stated,
"Consumers no longer move neatly from one touchpoint to the next, from branding to promotion to sales".
It is true, consumers no longer move neatly from one touchpoint to the next. Instead, they dabble on all sorts of digital content in the pre-purchase dreaming process, or even share experiences after a brand experience. Consumers share ideas about products, brands, and experiences through peer-generated blogs in an uncontrolled environment. Companies may feel threatened by "the rise of the user-generation", but the idea of consumer is king is not new. It's just now it has become more of a reality than before.
Consumers are becoming smarter than before. With accessible information they can get online, they have become more price-conscience than ever. This does not mean that consumers are only price-driven and not brand driven, they still choose their "lovemark" brands, but as a smart shopper, who doesn't wanna save a buck or two?
My friends pay a visit to a boutique store to try on expensive designer jeans so they can figure out what exact size they need. Then they gather that information and search extensively for the cheapest price online.
I look at several websites on Friday afternoon to decide which place I will pick for dinner. Through researching online, I am able to find the place that fits my critera: romantic setting, private, low key, small restaurant, not too expensive, and very good food. And when it comes to what is yummy, it can be quite subjective, so I really have to read between the lines with people's comments, instead of skimming the surface.
Consumers research online and buy in stores. They shop in stores and buy online.
The internet really has shattered the entire concept of a linear purchase funnel.
So what are marketers to do? how do you find structure within this un-structured enviornment?
Sunday, March 9, 2008
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