digital consumer trends. where are we? technology peak of trough of slope of plateau of trigger...
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Digital Consumer Trends
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Where Are We?
Technology Peak of Trough of Slope of Plateau of Trigger Inflated Disillusion Enlightenment Profitability Expectation
1990-1996 1999 2000 2001 2002 2003 2004 2005 2006 Equity times Debt Times Positive Cash Flow
Visibility
Dot-com peak
U.S. Recession
E-Business becomes “just
business”
Source: Gartner Research
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Market Overview
938 million users worldwide (14.6%)
Developed nations = 15% of the world’s population = 88% of all Internet users
U.S. Internet users = 202 million (69 penetration%)
60% of the world’s population say they will never have a use for the Internet
http://www.internetworldstats.com/stats.htm
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Just over 60% of Americans went online in 2002spending 11 hours/week(vs. 8.5% of world pop.)
E-commerce is 5% of all retailing -- $969 million in one week (8/3/2003); up27% from 2002
Source: Business 2.0
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What We Do Online Almost 2/3 of Americans go online. The top 10 things they do online
are:
Activity % of Internet Users
Send e-mail 91%
Use search engine to find out information 88%
Research product/service before buying 83%
Internet search to answer specific question 80%
Search for map/driving directions 79%
Look for info on hobby/interest 76%
Check the weather 75%
Look for info on movie/book/other leisure activities 73%
Get news 69%
Search the web for fun 67%
Source: Pew Research Center, Report on Internet Activities, http://www.pewinternet.org/reports/chart.asp?img=Internet_Activities_1.14.04.htm
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Seven Emerging Trends
1. Individuals' interconnectivity is increasing.
2. The information playing field is being leveled.
3. Relevance filtering is growing
4. Niche aggregation is growing
5. Micropublished self-expression is blossoming
6. The "prosumer" is rising
7. It's on-demand everything, everywhere
Source: http://www.clickz.com/experts/brand/capital/article.php/3510081
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Challenges
Digitally empowered customers are harder to find and attract
Audiences filter through the abundance of available information, seeking personally relevant content
Individuals spend more time interconnected with peers
Digitally empowered consumers expect more and are hard to satisfy
Source: http://www.clickz.com/experts/brand/capital/article.php/3520841
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How to Build Closer Relationships Marketers must shift their strategic thinking Invite your audience to participate in your
campaigns – e.g. Dove’s Campaign for Real Beauty
Allow customers to co-create – e.g. Sony Playstation’s Freedom campaign
Enable and facilitate connections among your audience – e.g. GM’s FastLane Blog
Hand over control to consumers wherever possible