According to Sandy Jap, 93% of purchases are still offline, however 55% are digitally influenced. She was invited to Marketing Day 2018 where she shared how does these tendencies in how people buy, change the dynamic for brands and marketers who want to go to market in the 21st century.
She explains people have found better activities to invest their time in, rather than going shopping to stores; this forces marketers to think more on HOW they want to buy and not WHAT they want to buy.
In marketing, we need to think about new sources of value beyond the product itself. New sources of value can be found in how they wanna buy, not what customers wanna buy”.
The key is to make it easier for buyers to purchase your products. Sandy gives a few great examples of companies that have understood this, and changed their purchasing processes to facilitate the way you choose your product, buy it, get it home and install it. This channel benefits provides tremendous value for the customer and will determine how people want to buy.
Later she describes the most common channel benefits you as an entrepreneur should take in consideration for your startup:
Jap talks about Coca-cola, where people buy it through different channels that make it cost differently, but people still pay it.
If you provide these important channel benefits, make sure you prize for them.”
Later she says, “how I buy” should be frictionless, meaning, giving customers the benefits they want when they need it. Learn some examples on key actions to make buying frictionless.
Finally learn about demographic trends that could guide your strategy, how digital enters the purchase decision and why you shouldn’t forget word of mouth and social media, because how your brand responds to customers will ultimately its survival.
Professor of marketing, author and B2B expert
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Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.
Universidad Francisco Marroquín