Three Ways to Adapt To Consumer Behavior Shifts
Since the beginning of the pandemic, our society has changed from what we use to know to a new normal. With social distancing, remote works, different movements, curfews, quarantine, these changes have significantly impacted how people think and consume.
According to EY Future Consumer Index, 42% of respondents believe that the way they shop will fundamentally change as a result of the COVID-19 outbreak. As a business, it is important you adapt to this consumer behavior shift and meet your target audience at their touch-points in order to stay competitive.
Learn how to adapt to consumer behavior through the following steps -
Provide value - This is not another cliche but it should be one of the fundamentals of any business. Why would you be in business if you do not have intentions of providing value to your target audience? The truth is every business has something to offer, you just need to find who needs it and how they want it. What can you offer to your target audience that can give you leverage over your competitors? Answer and apply to your business.
Identify your target audience expectations - How do your customers think and how do they want to be served? Do not make assumptions when you can interview them to know their perspective. This will inform your decision-making about how you can sell better to them because you can put yourself in their shoes and see through their eyes. You can also put a system around how you carry out this survey to effectively adapt to it.
Evaluate your data - Are you still using the same processes and data you have when your business started? No. You have to embrace change and move with your consumers. The data you gathered or you’re gathering should be made to good use. Your data will allow you to effectively monitor and respond to your consumers' behavior.
If you’re ready to meet your consumer’s needs and move your business marketing strategy further, you will need to create a system for it to survive.
The effects of COVID-19 is felt by all in different capacities, choosing your clients and making it easier for them to shop or find you should be a priority. Make it worth a while.
Keep winning. We’re rooting for you!