In this Digital World what are the Digital Needs, Wants and Demands of the Consumers?
1- What is the difference between Needs, Wants, and demands(Digital World)?
Perhaps the most basic yet important concepts in the field of marketing(Digital World) are the concepts of need, want, and demand.
A need is something that a person cannot do without and require it anyhow (e.g Clean water), a want is a desire that a person has, this desire may be unrealistic (e.g setting up a filter plant at your home), demand is the actual thing that you can afford or realistically have to satisfy the need (e.g purchasing bottled water).
2- Knowing what these concepts mean in the digital world.
In the digital world need of the customers is to find content that solves their problems, their want is to get content that is tailored specifically to their own problem in detail, but demand is for short, interesting and more general-problem-solving content. A digital marketer should always design campaigns based on what demand he/she expects.
Change in Consumer Behavior
1- What is the Consumer Behavior Framework
To cater to the needs of the customer, you need to understand how the customer makes a decision to buy.
Traditionally the consumer buying decision is defined using 5 stages:
1) recognizing the need/want
2) Searching how the need can be satisfying using what products
3) Choosing between product alternatives
5) Having a sentiment after using the product.
2- Understanding the changes to the framework in the Digital Age
In the digital world, information search has become huge due to the availability of online reviews. People now not only compare your competitors with you but also compare other kinds of products altogether.
People talk about their user experience online and it becomes a source for word-of-mouth for other people in the information search stage. Lastly, consumers now understand advertisements are exaggerated and want ads that are more relevant and captivating.
4 P’s of Marketing
what the 4 P’s of Marketing are
Marketing can be defined as the entire journey of the product from manufacturing to its delivery to end customers. If we want to look at marketing in the simplest possible manner you could divide it into 4 areas:
1) Product: All activities involved in making your product better (e.g. quality, packaging, taste, etc.)
2) Price: All activities that require the setting of the right price of your product/service
3) Placement: Activities involved in making your product available in the market (e.g. supply chain, retail set up)
4) Promotion: Advertisement activities.
what are the 5S of Digital Marketing (Digital World)
The Digital Marketing world has a different framework in place of the traditional 4 Ps of Marketing.
This strategy framework involves
This framework helps you in making more focused strategies for your campaigns. Selling in the framework means to always set targets for your campaigns, don’t just start a campaign without proper actionable targets defined. These targets could be selling products, click on ads, making conversations, etc. Always ensure your digital pages, are set up in a way that help to achieve these targets. Also, ensure your targets are challenging that push you and your team to perform.
To make focused and organized campaigns.
Here SERVE does not simply mean to help the customer it means
1)Providing actual solutions to the customers’ problems
2)Caring genuinely for the customers’ concerns
3)Improving the experience of the customer online
5)Listening to the customer’s feedback.
Speaking means speaking to your customer as much as you can. Here are 5 things to note:
1)Your goal should always be to increase engagement, that is the number of conversations you make with the customer
2)Working towards developing relationships with the people online
3)Creating avenues where customers can reach you
4)Doing research on what the customer likes to talk about and talking about it more
5)Communicating important information related to the brand online as well.