E-Marketing Influence on the buying process
The use of social media has altered the buying process and has given customers many different outlets to research goods.
Before the Internet and social media exploded, the buying process was simpler and more straight forward. Businesses would advertise and reach their customers by TV commercials, newspapers, radios or magazines. Now that social media is pretty much a part of everyone's daily lives, it has changed the way people buy products. Choices are broader and feedback is greater.
Feedback:
Whether you are buying a product or looking for a service, social media has made it easier for customers to buy smarter and more efficient. With websites (and apps) such as Yelp and Facebook, and product reviews on websites or even videos on YouTube, customers now have many opinions and recommendations from experts, friends and customers from around the world. Customers can also compare prices and products easier with the help of apps such as AmazonPriceCheck or RedLaser, where you can scan a product's barcode and see reviews, ratings and cheaper prices offered in different locations.
How E-Marketing has affected my buying process:
When I explore new restaurants (Which I love doing) I almost always look at reviews on Yelp to see what previous customers' experiences were and what recommendations they have when it comes to price, food quality and experience. I have discovered many amazing private restaurants that I would most likely have never known of, or considered experiencing if it wasn't for online reviews.
Another example would be YouTube reviews on products such as electronics. Since the iPhone 5S recently came out, I wanted to see the comparisons between the iPhone 5 and the new iPhone 5s. I went to YouTube to look at reviews (and parodies) on the new phone and confirmed my decision on not buying the new phone. (It's pretty much the same phone in my opinion).
The buying process: 
Ex:
1. Customers become aware of something they need, want or a problem they would like to solve.
- Taking public transportation is a hassle, I need/ want my own car.
2. Research- Learning how to satisfy their need, solve their problems and look for potential alternatives.
- Get advice and suggestions from friends on what type of car to buy.
- Research alternatives to buying a car (bicycle, car pooling or taxi).
- Looking online for car reviews and car quotes.
- Alternative evaluation: Compare products, choices and options.
3. Make a decision- Narrow down choices/ make a decision.
- Decide to buy a car.
- Narrow down car dealers to visit/ potentially purchase from.
- Wisely pick a car after much advice, research and consideration.
How social media marketing influenced consumer choice:
Instead of making it easier to narrow down choices, choices are constantly being revised and expanded. Social media information are constantly altering our decision process because we are constantly hearing new opinions and facts on the product/ service.
At least one step in the buying process is done through some sort of app or online source.
According to a Google research on holiday shopping,
- 51% of customers visited the store and purchased at the store
- 45% researched online, then purchased online
- 35% researched online, then went to a store to purchase
- 21% researched online, checked out products in the store, then went
back online to purchase
- and 14% visited the store first, then purchased the products online.
Sources
Chandra, Steele The 10 Best Shopping Apps to Compare Prices PCMag.com November2012, http://www.pcmag.com/slideshow/story/290959/the-10-best-shopping-apps-to-compare-prices
David Court, Dave Elzinga, Susan Mulder, and Ole Jørgen Vetvik June 2009 , http://www.mckinsey.com/insights/marketing_sales/the_consumer_decision_journey
Google/OTX U.S.,February 2011, http://www.gstatic.com/ads/research/en/2011_Google_Post_Holiday.pdf
Great post ! I also use the Yelp app every time I'm going to go to a new restaurant. People's opinions really help make my decision. Same thing when it comes to products. Just like you mentioned about the iPhone 5s, I too did my YouTube research and decided to just stick to my iPhone 5. E- Marketing has definitely changed the buying process for everyone, but i'm glad it did !
ReplyDeleteHello, Great post.
ReplyDeleteI agree with you with the fact that we use online information to help us decide which products or brands to buy or which restaurants to go to. However, some reviews that you find online are not as accurate as you would expect which is why it is difficult to trust 100% what it is online. So that leads to consumers being exposed to different types of information which can be confusing.
I believe that consumers nowadays have more options and information available and that's why I think consumer have to pay more attention and try to sort the information that they get online.
Very informative post. Like how you mentioned youtube when researching for products. I use youtube a lot to get a visual of products before I go out and shop for them.
ReplyDeleteI also do a lot of comparison shopping and read a bunch of the reviews that are directly on the site, like Amazon for example. I think the customer's voice is much louder nowadays and the internet is the amplifier pumping up the volume.
Look forward to reading more of your work!
I too believe that consumers are now more informed and make smarter decisions. I have shared your experience of getting to know restaurants I would have never known existed if it wasn't for Yelp. I believe as technology advances there will be even more information online and the customers will be exposed to new products or ideas which will enrich their day to day lives
ReplyDeleteI can very well identify with your blog. There is not a new place that I dont try unless someone recommends it or if the reviews on Yelp are off the chain!
ReplyDeleteI believe is very easy for consumers to trust in this kind of "review" websites. The consumer feels confident that the costumers and reviews are real. This is also helps business to stay on top of their game. A bad review on Yelp that ends up being number one on the list can seriously damage a business' reputation. I see it as a Win-Win situation. POWER TO THE CONSUMERS!
I agree with you 100%.We have become experts at finding ways to find products faster and at a cheaper price. We also rely on reviews, which is very important when it comes to restaurants and services. I think if we look back 12 years ago we wouldnt have imagined all of these changes. I also use the scanner app that lets me know where i can find the same product im looking at a store for a cheaper price. Companies have to work double in order to outsmart all this technology. The game of e-marketing has exploded and its interesting how much marketing it-self has changed
ReplyDeleteSocial media has definitely been an ESSENTIAL step in a consumer's buying process. Most young people and now even the older folks are looking at reviews of services, products, and feedbacks about the fits of different garments to make their decisions. Mainly because people are trying to optimize their time, they are opting for online shopping. Saving money in gas, saving time, and overall environment stressors. Definitely social media it's a deciding factor in our consumer behavior and decision processes. This is why brands should protect their identities now more than ever so it doesn't get lots in the clutter and stands out with 5 stars and non-screaming yelp reviewers.
ReplyDelete