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How has Covid-19 transformed the digital consumer dynamic?

Mar 08 2021

How has Covid-19 transformed the digital consumer dynamic?

As the world takes baby steps towards post-pandemic recovery, the drastic shifts in consumer behaviour grow more pronounced, and businesses cannot afford to retreat into their comfort zones. From proffering streamlined omnichannel strategies to artificial intelligence propelling digital revenue, here are the main threads woven through this intricate ecosystem.

Heralding a Digital Revolution

A significant silver lining amidst the widespread detriment caused by Covid-19 is the emergence of a more “conscious” consumer and investor mindset across the globe. Millennials, in particular, are growing more vocal about the environmental conservation, community development, and stakeholder equality practiced by companies via social media platforms.  Both nations and organizations recognize that technology-driven innovation is necessary for sectors to adopt sustainable economic “reset” strategies, whether concerning hazardous waste management, eco-tourism, or “green” infrastructure. When zooming in on the buying patterns across international markets, it’s clear that digital solutions prevail due to enhanced engagement, personalization, and convenience. For example, telemedicine consultations in the UK have proven more to aid clinical decision-making with an intimate look into the patient’s lifestyle, and high-quality “digital therapy” apps proved invaluable in boosting the mental health of patients.

Demand for customized experiences

According to McKinsey, digitally-enabled management practices have led to speeding up processes like supply-chain and cybersecurity enhancement by 20 to 25 times. Additionally, the Deloitte CMO online survey indicates that businesses have doubled the marketing dollars invested in social media and mobile campaigns, considering customer retention a top priority. As a result of the superior virtual engagement, customers prefer interactive online experiences, with 33% claiming they would not return to post-pandemic habits. Therefore, any premier digital marketing company in the UK will confirm that satisfying higher consumer expectations requires a fool-proof strategy guided by smart objectives and data-driven personalization at each tier of the purchasing funnel. For instance, a minimalistic yet sophisticated website proffering an intimate sensory interface and customized incentives is crucial to adding value.

Building contactless connections

The post-Covid investment world favours companies with strong ESG-themed policies and a holistic approach to achieving long-term objectives, which goes beyond short-term gains that compromise stakeholder relationships. Additionally, research shows that 68% of customers get disillusioned with a brand and switch because of half-hearted customer relationship management. Therefore, a professional web development company would urge you to embrace inbound marketing strategies while assessing target audience insights.  For instance, this could take the form of interactive webinars, informative eBooks, consumer-generated content, as well as exclusive behind-the-scenes glimpses and hashtag-driven challenges that build a solid rapport.

Decline in brand loyalty

The above tactics are quintessential because the lockdown circumstances facilitated increased brand switching due to stock-outs or budget constraints. Therefore, brands have to revamp their customer loyalty program using predictive analytics, closing the ‘experience gap’ by consistently adding value.  You can also elect a customer advisory committee who will test out product prototypes and air their opinions; this will serve the dual purpose of avoiding costly mistakes while also making customers feel a valued part of your corporate family.  Additionally, any reputed app development company would tell you that there’s a high demand for mobile amenities for selecting, customizing, and tracking orders, where tech-powered streamlining is required to make sure customers aren’t kept waiting. Fortunately, remote working tools, contactless operational models, and sophisticated 5G networks have also led to greater workforce flexibility and efficiency, translating into consumer-centric service and customer satisfaction.

Necessity for data-driven decision-making

To enhance the effectiveness of their customer retention efforts, digital companies must constantly track relevant metrics to make sure they are progressing in the right direction. For instance, if you’re a tour operating company, analytics tools are imperative to identify target market trends and preferences, be eco-adventures, authentic culture-based experiences, or both. And your next step could be developing a user-friendly app where tourists can customize their itineraries according to their requirements.

 

 

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