5 ways technology is changing consumer behaviors

5 ways #technology is changing consumer behaviors  #VR #AR #AI

  • In the meantime, some of the major opportunities for brands to engage with consumers is through the creation of high-quality VR and AR content, such as Nike’s VR experience where viewers can feel like they are Neymar juggling a soccer ball with Nike cleats.
  • Simply put, people are now addicted to consuming social media content and brands need to understand how to fit within this new social world.
  • Even if you choose not to use so>cial media content for advertising, take note how it can quickly evolve consumer tastes and how products now fit into social media.
  • This means in the next few years consumers will have a drastic increase in expected quality of customer service from companies and problems will need to be solved effectively.
  • Companies ought to take this time to prepare their consumer relations departments to ensure they have chatbots established on social media, customer helplines if needed, and overall orient customer service as a priority.

While it’s easy to sing the praises of technology, it is important to understand what innovation is significant and what will largely be uninfluential.

The emergence of the personal computer and cell phone in the 1990s and the smartphone in the 2000s are some of the drastic changes the business world has seen in recent decades. Technology has caused businesses to be run differently, established new prerequisites for success, and influenced the way consumers act. However, while it’s easy to sing the praises of technology, it is important to understand what innovation is significant and what will largely be uninfluential.

Forecasting future technological standards and their effect on consumers is difficult, but typically can be done with a degree of accuracy. This process starts with a “cone of uncertainty” or a graph that tracks the expansion of technological capabilities alongside critical milestones.

For instance, predicting the viability of driverless cars might include a list of important milestones, such as a certain amount of testing, government regulation, reaching a critical mass of consumers, and how much time each of these would take.

As we look to the future, these are the important technological innovations that are or will be influencing consumer habits.

Evolving ad networks

Google changed the world of advertising with the introduction of various digital ad networks, but Facebook quickly came along and introduced a comparably powerful ad network. Furthermore, the gradual growth of Snapchat Ads and Instagram Ads offer more options for consumers to engage with.

While this may seem harmless, the implications for consumers are interesting. First off,…

5 ways technology is changing consumer behaviors