6 Modern Marketing Strategies For Today’s Consumers

Traditional marketing strategies, including TV commercials and newspaper inserts, are less and less effective today, as well as becoming more and more expensive. Before buying, today’s customers look beyond these to find what is being touted by trusted sources on the internet, via social media and recent reviews. Your marketing needs to be there to get everyone’s attention.

Customers for new products want to feel they have the support and positive feedback from recent purchasers and people they know, as well as confirmation of desired features and value. They don’t have time to do all the research they need on traditional channels to root out the many misleading advertisements and questionable deals prevalent in recent decades.

In my consulting with small businesses and entrepreneur mentoring, I always recommend the following new marketing strategies to get the attention of the current generation of consumers, as well as new attention from an emerging global demographic that now has instant access to the Internet through their smartphones and tablets:

1. Contact influencers and connect to Internet trends. With the wealth of information instantly available globally via the Internet on smartphones and computers, consumers are quick to see what others are doing before they make a buy decision. My experience tells me that most customers check with friends and co-workers before trying something new.
2. Get recommendations by celebrities and known experts. People are always inclined to do business with people they respect, admire, and wish to emulate. Today the Internet, as well as conventional advertising, is filled with pitches by your favorite TV or movie star, or self-proclaimed expert. We see the pitches so often that we feel a bond with the seller.
3. Appear on trusted online sources and social media. Everyone has their favorite trusted source, and it changes on a regular basis. Today’s favorites now include TikTok, Instagram, or a long-term association with Facebook and YouTube. Consumers are looking for a community of advocates, as well as trend leaders with bold new interests.
4. Attract with special deals and fun promotions. Everyone loves big discounts and one-time offers to try something new. They feel the risk is minimal and they get bragging rights for being an early adopter. A higher value is given to deals that are aimed at selected demographics, or associated with a higher cause, such as saving the environment.
5. Play to human tendency to support high-level causes. Everyone wants to help others in need or support their favorite cause, such as saving the environment. For example, Bombas donates a pair of sox for every pair purchased. This commitment to charity is a form of reciprocity for product satisfaction, and is a powerful marketing strategy.
6. Recognize that customers follow personal beliefs. The reality is that consumers do not like change, so they look for consistency with past activity, to get minimal risk of having to learn something new. That Is what drives brand loyalty, so your business must bridge new offerings via marketing and pricing to prior ones to minimize consumer fear of change.

I believe that buy decisions are made today more on psychology than product facts and figures. Even if your product or service is highly technology-based, don’t assume that the power of your technology will speak for itself and win customer advocacy. This only works with early adopters and technology aficionados.

Consumers today assign maximum value to their whole experience, as well as the experience of peers and people they trust, before assessing loyalty. I urge you to stay in constant contact with your customers and listen carefully to their feedback to assess whether your new marketing strategy is working. The long-term success of your business and your legacy depends on it.