What is the recipe for a good digital strategy?
With ever increasing Brands fighting for limited consumer time and more and more brand going Share of Voice route (SOV) The amount of information that consumer gets exposed have increased multi-fold.
Digital marketing experts suggest that daily we get exposed to 4,000 to 10,000 ads.
Excessive info, more choices have made life difficult for marketers. In a famous experiment conducted by doctoral student Sheena S Iyengar who set out pots of jam on supermarket tables in groups of either 6 or 24. The purchase numbers dropped from 30% to 3% when choices increased to 24.
This experiment has a great insight for digital marketers; make decision making easier for consumer. Reduce the no of choices in every interaction with client so that probability of purchase goes up.
Aggregator companies like travel portals, hotel booking portals etc exist on exactly this principal.
Hence, how can individual brands use this insight?
Key to success lies in understanding consumer purchase cycle and how you can enable decision making with your digital presence. Brands role is to make consumer feel confident of their choices. To enable that they need to simplify choice making.
For example, certification is one way in which brands reduce the decision points, by certifying gold from independent body brands they take one decision point question out of consumer mind and let them focus on design and other charges.
However, we very often notice digital marketing strategies going wrong, example is the telecom service providers, with so many packs to sell it just leaves the consumer overwhelmed and they most of the time end up postponing their buying decision.
So, what is the recipe for a good digital strategy? Some pointers below,
• decode the decision process
• reduce the stages of decision making and
• enable decision making.
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