Consumer trends have always been an essential factor in shaping the marketing and business growth strategies of companies. As consumer behavior and preferences continually evolve, businesses must adapt their tactics to keep up with changing trends and stay competitive in the marketplace. It’s important that companies identify and respond to these trends in order to stay relevant and succeed in their industries.
In a previous article, we discussed how marketing directly affects consumer behavior. But in this article, we’re flipping that around to explore the latest consumer behavior trends, and look at how those trends will affect marketing strategies.
5 Emerging Trends In Consumer Behavior
1. A Continued Increase In Online Buying
A continued increase in online buying is definitely one of the most significant consumer trends of recent years, and it is expected to continue. With more consumers turning to online platforms for their shopping needs, businesses must understand the implications of this trend for their marketing and growth strategies.
The rise in online buying means that businesses need to invest in developing or improving their online platforms to provide a seamless customer experience. This could include optimizing website design for easy navigation, improving website speed and mobile responsiveness, and integrating multiple payment options. It also involves ensuring that their website is ADA compliant, meaning it adheres to the standards laid out by the Americans With Disabilities Act. Companies that fail to invest in their online presence risk losing customers to competitors who offer better online experiences.
Another implication of the rise in online buying is the need for businesses to rethink their marketing strategies. With less opportunities for in-person interactions, companies must focus on developing personalized and targeted digital marketing campaigns to engage and convert customers. This could involve leveraging social media platforms, search engines, email marketing, paid ads, and influencer marketing to build brand awareness and drive traffic to their websites.
2. Content Marketing Becoming Increasingly Important
Content marketing is the process of creating valuable, relevant, and consistent content to attract and engage a clearly defined audience. In the digital landscape of today, consumers are inundated with more information than ever before, which means they are far more likely to engage with content that is helpful, informative, and entertaining. As consumers spend more time online, they are also increasingly turning to content to help them make purchasing decisions. This means that businesses who implement content marketing will be better positioned to reach and engage with their target audience, building stronger relationships, and ultimately driving more conversions.
The content marketing trend calls for companies to focus on creating high-quality content that speaks directly to their ideal customer. This could take the form of social media posts, blog posts, videos, podcasts, or any other type of content that is relevant and useful to their target audience. The goal is to build a loyal following of engaged customers who see the business as a trusted source of information in their industry.
3. Rise In How Influencers Impact Buying Decisions
Influencer marketing is a marketing strategy that involves partnering with individuals who have a large and engaged following on social media to promote a product or service. This type of marketing has become increasingly popular, and this year, it is expected that there will be an even bigger rise in how influencers impact and influence buying decisions. This trend means that businesses who utilize influencer marketing will have a great opportunity to get in front of new audiences, increase their brand awareness, and drive more sales.
It’s been shown that consumers are more likely to trust and follow the recommendations of individuals they admire and respect on social media, oftentimes even more than traditional forms of advertising. As a result, businesses that invest in partnerships with influencers on social media platforms like Facebook, Instagram, and TikTok, will have a leg up.
However, it’s important that businesses find the right influencers to work with. The ideal influencer is not only one who has a large and engaged following, but their following should also match the target audience of the business. To succeed with influencer marketing, it’s recommended that businesses be transparent and authentic in their partnerships with influencers. This means clearly disclosing when a post or promotion is sponsored and ensuring that the content is high-quality, engaging, and relevant to their audience.
4. A Rise In Value-Based Buying Decisions
A rise in value-based buying decisions means that consumers are increasingly considering the social, environmental, and ethical impact of the products and services they purchase. This year, this trend is expected to become even more prevalent, as consumers become more aware of the impact their purchasing decisions have on the world around them.
For businesses, this trend means that they need to prioritize building a brand that aligns with the values of their target audience. This could involve ensuring that their products are sustainable, eco-friendly, and ethically produced. It may also involve partnering with charities or organizations that align with their brand’s values, or taking a stand on social and environmental issues that matter to their customers. To succeed in a value-based market, businesses need to understand what their customers care about and align their products and marketing with those values.
Value-based buying decisions are also changing the way that businesses communicate with their customers. Companies will need to focus on transparency and authenticity. Marketing strategies may involve emphasizing the positive impact of their products on the environment or society, or highlighting the benefits of making a more ethical purchasing decision.
5. More Consumers Vetting Businesses Before Buying
This year, more consumers are expected to vet businesses before making a purchasing decision. This has already been a rising trend, and it isn’t going anywhere. This means that consumers are taking more time to research a business’s reputation and reviews before deciding whether to buy from them.
This consumer trend has significant implications for businesses, as it means that their online reputation and reputation marketing strategies will be more critical than ever. This includes monitoring online reviews and social media channels to respond to customer feedback and concerns. It also means providing excellent customer service, as negative reviews and poor customer experiences can significantly impact a business’s online reputation.
In addition, businesses need to focus on their reputation marketing strategies, which involves collecting and promoting positive reviews and feedback to build trust and credibility with potential customers. This can involve highlighting positive reviews on social media, the company website, and Google Business Profile, as well as using customer testimonials in advertising and marketing materials.
Reputation marketing is also critical for businesses to stand out in a crowded marketplace. With more consumers researching before buying, businesses need to ensure that their online presence and reputation stand out from the competition. This may involve investing in search engine optimization (SEO) strategies to improve their ranking in search engine results pages, as well as leveraging social media and content marketing to build a strong online presence.
Staying on top of the latest consumer trends is essential for any business looking to remain competitive in today’s fast-paced marketplace. By understanding the shifting attitudes and behaviors of consumers, you can adjust your marketing strategy accordingly, and better connect with your target audience.
If you have questions or concerns about how to align your marketing efforts with the latest consumer trends, don’t hesitate to reach out to our experts here at The Alchemy Consulting Group. We specialize in the marketing methods mentioned in this article, and we’re here to help you find the right marketing mix to achieve your business growth goals. You can reach us by calling 877-978-2110 or by scheduling a call at https://calendly.com/gordonvanwechel/15min.