Insights and Strategies on Ever-Changing Consumer Behaviour

In the modern marketing landscape, preferences change as often as the weather. There are a myriad of different variables that affect a consumer’s wants and needs, and these preferences are often influenced by external factors thanks to the omnipresence of things like social media. With consumer behaviour shifting at any given moment, is there a way to predict a pattern that can help marketers navigate every uncertainty?  

Before delving in, let’s break down the definition of consumer behaviour. It’s a blanket term that refers to the evolving wants and needs of any given audience - from their preferences, purchasing habits, to their decision-making processes. It’s important for marketers to understand the ins and outs of these shifts in behaviour due to the crucial role they play in how products and services should be marketed and sold.  

Shifts in consumer behaviour acts as a mirror to reflect on how the zeitgeist reacts to changes in the world around them. In addition, understanding the intricacies of consumption patterns can and will help businesses stay relevant and competitive even in a heavily saturated market environment. At Acorn Strategy, we understand that analysing these factors will enable companies to meet ever-changing consumer demands and enhance customer satisfaction in the process. 

An Inside Look: 

The world has transformed significantly in recent years, and these shifts are reflected in the marketing landscape. Our team of professionals have curated some key factors that have been a mainstay in post-pandemic consumer behaviour and what makes them tick. Let’s take a moment to examine each one. 

1. Google as ground zero 

Gartner Market Guide’s stats have shown that over 87% of consumers turn to the internet to learn about the products they’re interested in purchasing. After all, Google processes over  40,000 search queries every second for a reason. On companies’ side, this puts emphasis on the importance of search engine optimisation to establish a solid foundation in search engine results. In turn, ranking high in organic search results should remain a priority for digital marketing objectives.  

2. Omnichannel seamlessness 

Considering the endless possibilities of devices and channels a customer might want to use, expecting a smooth and consistent experience above all is a given. By ensuring a smooth ride throughout the path to purchase, consumer engagement and loyalty will continue to rise boasting a frictionless and personalised experience from end-to-end.  

3. Prioritising CX 

As the age-old marketing adage has said: customer is king – and the sentiment hasn’t changed much. Today’s consumers are hyper-connected and highly empowered by technology as well as unlimited access to options and information. What this means for brands is, it’s tougher to retain loyalty with consumers having all the options in the world at their fingertips. In the age of disruption where product shelf-life and relevance are becoming increasingly smaller, companies have to be customer-centric to stay in their game.  

The above insights show current trends in consumer behaviour that will impact the way marketers navigate the landscape in the years to come. With consumers and companies being more connected than ever, these key points need to be taken into account when formulating a framework to keep up with evolving consumer behaviour.  

Applicable Strategies 

After understanding the insights above, let’s explore some actionable strategies that can be implemented to meet the constant shifts in consumer behaviour. 

1. Raising the bar on digital expectations 

Consumer habits have transformed dramatically in recent years, accelerated by the digital age. Higher tech literacy means a heightened expectation towards businesses to offer strong online platforms. According to research conducted by McKinsey, consumers tend to seek out brands offering specific experiences that are well-integrated into their digital habits. This revelation compels companies to step up and adapt to emerging habits with tech-forward solutions. 

2. Recognising the shift 

Adapting to changing consumer behaviours serves as a testament to your brand’s resilience, especially considering how the landscape is now more heavily influenced by digital transformations. Recognising these shifts is key to staying ahead of the curve and meeting your customers’ evolving needs. 

3. Nurture consumer expectations 

In recent years, there has been a fundamental shift in the relationship between brands and consumers. Expectations have gone beyond simple transactions – consumers seek out experiences that are engaging and personalised. What’s more, these key points need to be delivered seamlessly across platforms. As a renowned data-led agency, we understand that nurturing these expectations will lay out the framework where your business can thrive despite ever-changing consumer behaviour. 

4. Leveraging AI  

At Acorn Strategy, we take pride in our well-thought out, data driven approach to decision making. We recognise the endless potential of AI and how it can uncover carious patterns in vast amounts of customer data, bringing insights into the always-shifting consumer preferences and trends. By harnessing AI to help, not replace, strategy curation, brands can use these analytics to increase personalisation and build long-term customer loyalty. 

With these strategy touchpoints in mind, it can be concluded that in order to create a remarkable experience that secures a spot in the consumers’ top-of-mind, a profound understanding of consumer demand is crucial. Furthermore, utilising the correct technologies to deliver personalised CX should also be a priority to drive positive business outcomes.  

At Acorn Strategy, we believe that every consumer touchpoint is meaningful and it’s more important than ever to focus on agile approach that’s driven by data and analytics. While the path may not always be in a straight line, positioning ourselves to #MakeMightyMoves will significantly boost relevance in the most competitive of markets.