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Essay / The Digital Buyer Approach - The Rules of the Digital Buyer in...
The Earth is moving beneath the supplier's feetAcross the world, business decision-makers and influencers of billions of dollars of commerce are migrating towards a digital shopping experience improving precision and speed. and the convenience of their choices. They are looking for suppliers who understand and support their digital purchasing approach. Over the next decade, not only will more and more buyers turn to digital, but their digital needs will increase not only as buyers but also as customers. Lagging suppliers will certainly lose business as these buyers migrate to more digitalization. When you visit most suppliers' websites, it's easy to see that they haven't thought carefully about this emerging, dominant buyer approach. From time to time, you take on the role of the buyer. When you took on this role as a buyer, did you notice what changed about you? You go digital and you're connected. Magically, the 21st century buyer enjoys the ability to search, create and share information like never before. Shoppers will begin their digital shopping experience before a supplier is contacted. Choosing to accept this fact can make or break your business in the 21st century. The Rise of the Digital Buyer The digital buyer is a term that was created to help the supplier focus on the changes they need to make to improve their revenue efforts. Here's my description: The Digital Buyer – uses 21st century technology to conduct their own goal-oriented research, shares content online, and engages in online conversations with trusted connections before contacting a supplier. Once engaged with specific providers, they expect the provider to actively use technology to improve their experience. Finally, they create their...... middle of paper ...... y, the primary mandate of the marketing department should be to help the buyer be successful in pursuing their goals at each stage. One of the key changes that has occurred is the end of information asymmetry that favored the supplier. The Creation of the Digital Shopper The years 2000 to 2009 could be considered the birthplace of the digital shopper. Events and developments shape behavior. We went through very turbulent socio-economic times as our technologies continued to evolve. We experienced the catastrophe of 9/11 and narrowly escaped an economic collapse brought on by what were supposed to be some of our most trusted institutions. I believe the impact of these events has shaped the overall buyer psyche when it comes to risk and ability to grant trust. On the positive side, during this time, technology has transformed the buyer into a more knowledgeable digital buyer..