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Guest Blog: Impact of Technological Advancements on Consumer Behavior

This week we feature an article by Jim Iyoob who talks about how and why technology has changed consumer behavior and how you need to reinvent strategies to keep up with consumers. – Shep Hyken

As we all know, nowadays, consumer behavior is prejudiced by various aspects. With technological advancements, the market has seen a tremendous shift in consumer behavior. As a result of the technological impact influencing consumer behavior, most company leaderships face an unending challenge to meet consumer expectations. Because of the advent of information technology, consumer behavior seems to be more influenced by internet-enabled smartphones and tablets. Technology has literally placed the power in the consumer’s hands.

Today, a typical customer expects a prompt response and fast service from any business. To keep up with consumer expectations, all businesses are facing huge challenges. How and why has technology changed the way consumers behave? Here are a few things that you need to keep in mind as you reinvent your strategies to keep up with the consumers.

Customers are connected

Nearly everyone is living two lives, an energetic online life, and an exhausting disconnected one. We are altogether associated at some stage through our system of companions. We likewise claim in excess of one gadget that keeps us refreshed. This implies we blossom with being dynamic and educated on the web, and ExactTarget Marketing content confirmed this from a research they did, whereby 91% of purchasers demonstrated that access to content across all gadgets was imperative.

Data innovation progressions fuel the network that unites the world as one major network, from the advanced mobile phones to super-quick information. This pattern isn’t going to change since presently kids as youthful as 5 years know how to work a smartphone. LinkedIn even brought down its age breaking point to 13 years to gain on the technology adoption rate.

Organizations need to meet consumers where they are and fulfill their refined needs. On the off chance that your target market invests more energy in Instagram or Facebook or Twitter, be available and react to them on the same platform. Are you doing what’s necessary to use innovation and handle the educated customer?

Consumers Desires have changed

Before, as an organization, you set the times that you were open for business, and customers needed to endure it or remain without that specific product. Technology has completely changed that, with the introduction of online business and smartphones, customers can get to products whenever they want. They have raised desires on what is satisfactory consumer behavior and what isn’t. As a business, you need to stay aware of the changed buyer conduct or be bankrupt.

For instance, if a customer needs to buy something on the web during the evening and has a question, they hope to find prompt solutions. If they don’t they pick another provider from the countless accessible online who can meet their prompt needs.

Customers currently comprehend the power they have and will utilize it when not happy with an administration. A basic articulation of their disappointment on your social media that isn’t reacted to promptly will ignite uproar from different customers who approved of your products and services.

New correspondence channels

Previously, an organization gave customer service through emails – that did not get immediate reactions – and telephone calls. These two specialized devices had their own particular difficulties and favored the organization more; it was at their circumspection what data to give out.

This age nonetheless, is extremely revived. Social networking sites and live chat puts you directly before your customer; you can’t forfeit your customer to keep up your brand position. As a matter of fact, when you don’t react to a question, you harm your brand reputation since that data is available to a great many people.

The upside of these new devices is that you have a more extensive data gathering pool; you can quickly track your innovative work by using the big data. You should give customers choices and with alternatives that are tuned in to their ways of life and life stages, and worked to convey the quick, individual, and helpful customer service that they truly appreciate.

All in all, we have seen the development of technology and its effect on buyer conduct. We have taken a glimpse at three different ways that consumers conduct has changed, from associated customers to changing desires and new communication tools. I trust the declaration “Customer is the King” has never been experienced by organizations like in this information technology era.

Today customers know they are powerful and authoritative, what actions are you taking to extinguish their instant information thirst?

Jim Iyoob is the Chief Customer Officer for Etech Global Services. He has responsibility for Etech’s marketing, business development, program implementation and product development across all of Etech’s existing lines of business – Etech, Etech Insights, Etech Technology Solutions (ETS), and Etech Social Media Solutions.

For more articles from Shep Hyken and his guest contributors go to customerserviceblog.com.

Read Shep’s latest Forbes article: Industry Leader Secrets: Six Ways To Stand Out With Customer Experience

 

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