It’s about people. Always has been. Always will be. It’s about getting new customer to buy and to keep old ones buying. This is what marketing is and
Marketing is about buying decisions. It’s about focusing on the elements that make people buy and making it simple for them to choose you. Yet this paradigm has changed.
How Are Buying Decisions Made
What is very clear is that brands are no longer trusted. With to many choices and marketers pimping their message in anyway possible, customers are looking elsewhere to get an unbiased, qualified opinion. They are looking to each other for information – or what we call word of mouth marketing.
And the stats show this. Socialnomics reports the following:
- 78% of people trust peer recommendation
- 14% of people trust TV Advertising
- 18% of traditional TV advertising managed to generate a positive return
When you read these stats it is very clear that we are now living in a people driven economy and companies have to re-design themselves around people rather than their process and systems.
What Is The Internets Role?
Here is some research conducted by Google and Keller Fay to see the effects of the Internet and Internet enabled devices on word of mouth conversations about brands. It is research based on the US market and the numbers are staggering:
- There are 2.4 billion conversations that involve a brand per day.
- There are 3.3 billion mentions of brands in a day.
- This is about 1.4 per conversation.
What makes this really interesting for me is how we go through the information gathering process and how we qualify our buying decisions.
This dynamic need state makes me think of how easy business are making it for people to deal with them. How easy is it for a customer to engage the company through each touch point. Certainly in South Africa, I don’t think to many are focusing enough attention in these keys areas.