Digital world Flashcards
Why is setting standards important in the digital world?
Customers are no longer comparing brands with their direct competitors, but rather all brands they consume, no matter the industry or product. They are comparing not only the product but a myriad of brand elements such as service, quality, and overall customer satisfaction to name a few. Brands should no longer be focusing on their direct competitors, but instead focusing on how they can be better than the best brands their consumers are using. Modern day consumers are comparing apples with oranges. Fashion brands are now being put up against supermarket chains and insurance companies; if one offers fantastic service, the benchmark it set for the others to meet those standards.
Why is consumer tolerance important in the digital world?
It is now so much easier for customers to complain about bad service, meaning it is much harder for brands to satisfy customers’ wants and needs. Customers place a large emphasis on the ease of service, and if this is not met they will take to digital media to complain and let others know of their misfortunes. Brands need to accept the fact that customers are less tolerant than they used to be, and they need to act accordingly in order to retain their
customer base
Why is customer dialogue important in the digital world?
Between social media and customer forums, consumers have the ability both to build and to destroy brands. Customers have always been led by the opinions of friends and family, but
nowadays this is facilitated by social media likes and testimonials. Brand reputations can stand or fall overnight based on the communication between consumers
How loyal are customers now we have entered a digital world?
Customers want value for money and will no longer just accept cheap products and services. Likewise, customers will not accept overpricing or poor standards of customer service. Brands need to understand that today’s customers are open to brand switching and do not have the same level of loyalty as they once did. Customers demand superiority and are happy to pay for it.
Why is promotion important in the digital world?
Consumers no longer trust traditional information channels as they once did, and so consumer opinion and relationships are formed on other, digital based, channels. This has meant a complete shift for brands to jump into digital and embrace conversation with consumers, which was previously reserved for personal comment and opinions. It is difficult for some brands to keep up with both traditional and digital development, but it is vital that they do in order to continue successful conversation and promotion with their customer
base
What has changed about the information customers have access to now we have entered the digital world?
The digital revolution has provided customers with a far greater knowledge of products and services, meaning that brands no longer decide what information is handed to consumers regarding product knowledge. Consumers are able to access information and opinions within seconds, providing them with enough facts to make informed purchase decisions.
Why is it important brands choose the right channels?
Brands do not decide which communication methods are best used by consumers. They themselves decide this, based on which channels are used by their friends, family, and influencers alike. Brands need to choose channels based on whether they will be suitable for the type of interaction they are looking for, otherwise the exposure of the interaction to the consumer will not be profitable.
Why is social connectivity important for brands?
Through the explosion of the use of social media, customers now have unlimited opportunity to exchange views with others around the planet, and they increasingly exercise this power in their comments and criticism of brands. While social media would arguably exist even if marketing did not, today’s digital strategist needs to consider building in to their plans some element of social media engagement. At the very least, this should include monitoring comment for mentions of the product, sector, competitors, etc. Ultimately, social media would be fully integrated into the customer journey from building awareness to post-sale service.
As the social media platforms increase their use of paid advertising opportunities, this
‘commercialisation’ of social media becomes ever more evident. Indeed, some countries
such as China have always seen a closer tie between brands and selected platforms. While
social connectivity means that traffic has increased dramatically in volume, the quality and
authenticity of it has also suffered. Fake news and undisclosed sponsorship are just two
examples.
Why is it important to think about how people are consuming content?
Mobile phone reading is fast-paced, half-present and usually done while doing something else. Contrast that with reading on a tablet. Most tablet reading is slower-paced, deliberate
and done in the home. Desktop use is also different. For marketers, it is worth thinking about how people are consuming your content and what that might change for your approach to content creation.
What is digital disruption?
a change that is created by utilising emerging digital technologies and business models. These innovative technologies and new models can impact the value of existing products and services offered in the industry. Disruption happens as the emergence of these new digital products/services/businesses structurally changes the current market and causes the need for re-evaluation.
How can digital be an opportunity?
The opportunity – transform the customer experience and operations to become a
fully effective digital business
How can pace of innovation impact customers?
technology disruptions now occur at increasingly short intervals. Does that mean consumers will be sceptical about anything ‘new and improved’ as they anticipate an even better product on the not-so-distant horizon? Moreover, how will companies’ R&D compete in this fast-paced marketplace? Will the future see more frequent product launches to trumpet only incremental change?
Why is personalisation a strong aspect of digital?
big data analytics enable marketers to send
customer communications that are more relevant, personalised and targeted than ever before. Research shows that consumers welcome personalised offers, such as price-matching and loyalty points. Soon, they will not only welcome it, they will expect it. By using data-driving marketing, marketers can learn how to optimise their Appeal to individual customers
There are five key factors that organisations need to consider about how digital disruption will impact their customers: What are they?
Pace of innovation
Increased competition
Personalisation of interactions
Speed of interactions
Integration
What skills do digital disruptors need?
Digital disruptors need to be able to build fully integrated marketing campaigns that adhere to the principles of selective consumption (becoming more selective about where brands choose to be exposed). This includes content publishing, social-media, SEO, online advertising, mobile marketing, website development, email marketing, lead nurturing and analytics, as well as evolved forms of PR and brand marketing. Core capabilities will centre on digital, with a mix of traditional activities as needed.
