the new age of buyer behavior: how the evolving tech landscape is forever shifting brand...

THE NEW AGE OF BUYER BEHAVIOR 1

THE NEW AGE OF BUYER BEHAVIOR:

HOW THE EVOLVING TECH LANDSCAPE IS FOREVER SHIFTING BRAND INTERACTIONS

AND CONSUMER EXPERIENCES


WHY WE’RE HERE

A number of technological trends are taking hold today in a way that will heavily impact consumer buying habits.

In turn, companies should begin to consider how they approach related marketing efforts.


WHY WE’RE HERE

For brands to keep up with these new technological trends, there are several content and communication strategies that should be explored.


WHAT THIS “CLASS” WILL COVER

The "New Age” Is NowCurrent landscape and outlook1

2 Three Content & Communications Strategies To exploit the new age

3 Three Case Studies

4 Actionable Takeaways


THE “NEW AGE IS NOW”

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”THE NEW AGE OF BUYER BEHAVIOR

In 2014, the average American spent nearly 6 hours with digital media each day,

an increase of 23% over the previous year (2013).

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In 2014, the average consumer spent 34 hours per week

on the mobile internet.

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In just one minute, 216,000 photos are posted to Instagram, 1.8 million likes are made on Facebook,

$83,000 in sales take place on Amazon, and 72 hours of video footage is uploaded to YouTube.

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1 in 5 adults owns some type of wearable device.

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It is anticipated that there will be

150 Million wearable units shipped annually by 2019.

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Intel predicts there will be

200 Billion connected devices by 2020.

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THREE CONTENT & COMMUNICATIONS STRATEGIES

UTILITY | TRANSITORY | POST TRANSACTION RELATIONSHIP


UTILITIARIAN-BASED CONTENT

Due to the sheer amount of content, both user-generated and professionally produced, for brand-funded content to maintain a shelf life beyond our ever-shortening attention spans, content that brands publish should provide utility for the end user.

Utilitarian-based content can provide consumers with financial benefits, timesaving assistance, or quality of life improvement. You can also think about it as providing consumers with functional versus emotional benefits.


TRANSITORY CONTENT

Transitory Content is content that can be consumed in transit: on-the-go, in-store and out-of-home. Given its consumption environment this content must deviate from traditional content that has previously been consumed in-home, at-work and, primarily, on your desktop or via the comfort of your couch.

Transitory content should be snack-sized (micro), non-linear (plot relying on an independent stand-alone format), portable (transitioned seamlessly from device to device) and on-demand (instantaneously available).


POST TRANSACTION RELATIONSHIP

Increased datapoints and data-access coming from consumers’ wearables and IoTs provide a very unique opportunity for brands to take customer relationships to the next level. Brands can now interact with their consumers on a customized, individualized and personalized level throughout the buying process.

This will enable brands to build more profitable and longer-lasting relationships over time, and further cement themselves as the preferential brand in a particular category.


THREE CASE STUDIES

MACY’S & SHOPKICKMacy’s rolled out a program to 800 stores last holiday season that combined iBeacons with the app Shopkick. In addition to enhancing the shopper experience, this program also helped to collect useful information on offline shopping habits by tracking customer foot traffic flows and which products and services they interacted with.

NIVEA PROTECTION APPLast year Nivea developed a mobile application and wearable bracelet to help parents keep track of their kids’ locations while at the beach. By providing this clever tool, Nivea was able to stand out and earn consumers’ trust by associating themselves with this safety-related tool. Nivea was also able to access customer data, deriving from the app downloads, for future targeted marketing opportunities.

VIRGIN ATLANTIC & GOOGLE GLASSVirgin Atlantic brought wearables into play at London’s Heathrow Airport by outfitting its concierge staff with Google Glasses.

As passengers stepped out of their cars, the staff could begin the check-in process and share relevant information regarding their itinerary, such as delays, weather updates, and so forth. This technology was able to deepen the “personalization aspect” of the travel experience.


ACTIONABLE TAKEAWAYS



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Brands can begin to leverage data collection to provide a localized, targeted, relevant and personalized experience for customers.

Every aspect of the consumer experience can now become “hyper” – leading away from generalized best practices and more to an individualized service plan.



Provide Increased ValueCustomers are demanding more value from the brands that they buy from and interact with.

Value is being defined less as entertainment and enjoyment, and more as real-world benefits such as saving time, money, and reducing stress.

Consumers are on the lookout for brands that can provide tangible benefits during interactions.

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Improve Real-Time ExperiencesThe interconnected nature of mobile devices offers brands the chance to provide users with real-time information, choices, and enhanced interaction.

Devices also increase the potential to offer more meaningful and vivid experiences as the boundaries between the digital and physical worlds fade.

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Produce Higher Quality ContentAs consumers are hit with waves of content, it’s important that your brand’s content be of the highest quality.

As a result, brands can invest in creating fewer pieces of content, but focus on content that has an extremely high degree of utility and is laser-focused to their markets.

Strategic dissemination to get quality content in front of audiences should leverage higher quality media publishers and platforms, including branded communities.

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“Connect” With MillennialsMillennials are one of the most in-demand customer segments in the market today, and they are poised to adopt the technologies in question at a much higher rate than other parts of the population.

At the same time, adoption by Millennials will help pave the way for interest by both their parents and children through technological exposure and personal recommendations.

Engaging Millennials through these technological and social experiences will help increase your brand’s reach with multiple core audiences.

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Consider Operational EfficienciesConsumers are increasingly demanding of a more pleasurable and efficient experience (less waiting, more productivity) when visiting retail locations and online retail destinations.

Connected technologies can help employees, sales reps, and internal systems better serve customers by offering a more personalized experience, better service, and faster checkouts through mobile paying.

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Tackle Privacy Head OnPrivacy remains a real consideration for consumers.

Even with the convenience of connected devices and applications, this doesn’t eliminate consumers’ concerns about how best to control what information is shared, how it’s used, and what options they have for turning off the flow of data in either direction.

Brands that have clear privacy policies in place and can take steps to demonstrate the ethical use of business data will come out ahead.

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Think About Mobile FirstWhile the world’s population continues to grow and get bigger, individual users are seeking “smaller,” relevant, and personalized experiences.

Instead of thinking “social, local, mobile” or SoLoMo as people have referred to it, which encourages brands to think of cute or entertaining content that’s likely to be shared, brands should think about it as “mobile, local, social.” Your consumers are living on their phones and thinking locally before they begin to worry about social media.

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THANK YOU

Thank you for participating in

[L]EARNED MEDIA UNIVERSITYTo Download The Complete White Paper Visit www.SchoolingBrands.com/WhitePaper

“The New Age of Buyer Behavior: How the Evolving Tech Landscape is Forever Shifting

Brand Interactions and Consumer Experiences”


[L]EARNED MEDIA

About Us[L]earned Media is a silicon alley-based marketing agency schooling brands in the new age of buyer behavior. [L]earned Media works with clients to develop and execute forward-thinking marketing campaigns that can be distributed across all media to drive meaningful business results.

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