Are you still running your business from the brick-n-mortar store? The futuristic eyes view digital business ahead. Climbing on the digital bandwagon is the only way out to survive in the digital future. Could you think why the economy of Singapore, Finland, Sweden, Norway and the US are developing by leaps and bounds? Digitization takes away all the credit.
What’s in it that pushes any economy to the rapid pace of growth? Can inter-connectivity of all systems the real game changer? If yes, then how?
Well, all these questions end up at drilling the data. With handy data that has the touch-up of real-time, any entrepreneur can get insight of the market and consumers. Thereby, convincing marketing strategies are sprung up straightaway from the mind of the expert data analysts and veteran marketers.
Be it the sale-n-purchase of products or services, apps are at the centerpiece. Stacked data of online traffic unearths what the consumers prefer; which trend is worn out; how to redirect a ruined deal; which bait-n-switch technique could do miracle and so on.
Let’s check how online apps extract real-time information and how it is used for market research.
Online for Window Shopping: The developed countries, like US or Singapore, enjoy seamless flow of rich data. Smooth transmission of accurate information unlocks many doors to get leads and great ROI. E-commerce has its history laid in 1994 with the kick-starting of Sting Album sale. Later, wine, flowers and chocolates stores jumpstarted to e-tailing. The soaring revenue and profit margin continued promoting this landscape of evolutionary marketing.
Since then, the apps consistent to desktop, mobile phones, tablets and laptops have changed the market research scenario. But this fact has nothing to do with the popularity of physical stores. A study of A.T. Kearney over eCommerce reveals this fact.
Offline for Real-Shopping: Online shopping is just one or two decade old story. With the surging up love for the digital shopping, a new trend is emerging. It illustrates an ideal combo of online and offline shopping fashion.
By capitalizing on audience’ love for window shopping, the stuffing of the latest trends tempts them to explore. After preferring, the buyer shifts to physical stores for real-time buying experience. None can ever fade away the ever-lasting power of touch, feel and then buy. So, both online and offline platforms are casting influence on each-other to promote sales & revenue.
Internet Connects: Let’s consider Australia’s online growth structure due to online marketing. Its GDP rose to 3.3 % in 2016 which ranked it on 13th position in the global ambit. Its major share goes to the internet buying trend. It not only derived more business but also the scalable business opportunities. The internet penetration in Australia jumped from 8,933,808 in 2000 to 20,679, 490 in 2016 as per internetlivestats.com. This stat figures out 85.1% growth of internet utility.
Such a tremendous penetration of digital buyers is possible only through internet connectivity. The merchants and retailers put their vigil on every in-and-out of online traffic. As a result, the data for business research gets accumulated for analysis. And when, this data is garnered to market analysts, they configure loyalty programs, offers and discount schemes to lure the potential buyers.
If look at the buyers’ attitude, they jumpstart research of the required product/service. All in all, offline and online stores are coexisting and co-operating to roll up the sale and ROI for industrialists.
Therefore, the online app must have all features to engage the audience. In collation with it, the physical stores must be infused with the variety that can fully justify customers’ expectations.
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