The Changes in Consumer Behavior Caused By Higher Fuel Prices and Cheaper Mobile Devices
The past few years have seen climbing fuel prices cause consumers to tighten budgets and adapt spending habits. For some, this means spending less. But for many others, it means spending differently. Businesses need to be aware of these changes in consumer behavior in order to successfully adapt their marketing strategies to maintain their relationship with customers.
Consumers have cited fuel and energy prices as top factors in budget planning and spending decisions. As higher gas prices make each trip more and more expensive, consumers are finding creative ways to limit their trip to the pump. These include consolidating shopping trips and cutting back on unnecessary outings. As people turn to the online marketplace more than ever, Internet marketing has become a crucial component of a businesses’ overall marketing solution.
While gas prices are climbing, prices of mobile devices such as smartphones and tablets are dropping. Mobile devices have fast become an integral part of our lives and are transforming consumer culture. Online sales are booming as people turn to the online marketplace in favor of making expensive outings to physical stores. Mobile devices make it easier than ever to access online shopping venues.
As the online market grows, it is essential that businesses maintain an online presence to avoid losing the business of customers who choose to stay home and make shopping trips using a mouse rather than a car. But it is not enough just to be present online – businesses need to ensure that their presence is effective. This can be accomplished by keeping in mind some of the key ways mobile devices are shaping consumer culture and shopping behavior:
Social media: As use of mobile devices has grown, social media has exploded. Consumers consult social media sites to find reviews and recommendations before making spending decisions. A study by Google reports that 96% of mobile device users check online reviews before making a purchase.
Price comparison and research: Consumers are using smartphones and other mobile devices to make instant price comparisons that used to require visiting multiple stores. They are also researching products more carefully online rather than shopping around in person before going out to make a purchase. Thus prices need to be competitive and information about your business and its products/services readily accessible.
Search Engine Optimization (SEO): Google’s mobile device study reports that 61% of mobile device users only look at the first page of results when searching on their device. Internet marketing strategies should endeavor to maximize SEO so that your business ranks high in search results, garnering more online traffic.
These changes in consumer behavior as a result of the growth of mobile devices are all good news for businesses – it means there are more opportunities to connect with customers. But businesses need to be open to these opportunities by catering their online presence to the changing demands of the mobile market. This means understanding how mobile devices are shaping consumer culture and how to respond to those changes by employing effective Internet marketing strategies.
ProWeb365 is a Minneapolis web design firm, specializing in web design and development, and Internet marketing/SEO. We are a results & relationship-driven company. Every day we strive to meet and exceed our clients’ expectations while only charging for results that we successfully deliver. For web design prices or to see what Internet marketing success looks like for your business, contacts us today at (612) 590-8080.