Consumer behavior is undergoing a significant shift.
Gavin Lionheart's insight:
This article explains the ideas of how media has transitioned from text to pictures, meaning the public media is making images the new currency of social media engagement. I believe this is an excellent idea and could have many possitive factors, one being visual appeal to consumers. Personally I enjoy seeing pictures/images other than text, with so many phones and new technology have cameras on them can easily create very creative images. This can relate to IMC by building brand awareness by using pictures as logo's, creative brands can encourage consumers to buying your product.
Americans are increasingly using their phones to avoid a trip to the bank, but they still have little interest in having mobile devices replace their wallets.
The cellphone users tapping into banking services increased 33% during 2012, according to a Federal Reserve survey released Wednesday. Nearly half of those with smart phones accessed a banking app or mobile website in the past year, the survey of 2,600 consumers found.
“It is the future,” technology analyst Jeff Kagan said. “Five years ago we didn’t have iPhones… soon we may be using our phones for nearly all banking and monetary needs.”
The Fed survey found Americans are increasingly checking balances, paying bills and depositing checks on their phones, but they’re reluctant to use their iPhones, Galaxies and other gadgets to pay at retailers and restaurants.
Only 6% of smart phone owners used their device to make a purchase in the past 12 months, and less than a quarter say that they’re even interested in such services, the Fed said.
Needless to say smartphones are becomming a rapidly popular to everyday use. Advantages of smartphones can somewhat save you time doing daily or weekly chores, as for example this article talks about saving time by using a smartphone than making a trip to the bank. Personally I find using smartphones very useful in relating to this situation, I use my banking app frequently to pay for certain things that the app can supply me with. I guess in some cases, for workers such as bank workers will have less occupants visiting. It's all up to the phone user how they use the phone and how they decide to maintain its benefits and flaws.
Despite cautionary spending last year, retailers may have good reason to be optimistic in 2013 – consumers are trying more fashion retailers for the first time, and most are making purchases during those visits. According to a study by Market Force Information, a worldwide leader in customer intelligence solutions, four in 10 (39%) of consumers surveyed reported trying a new fashion retailer over the past 90 days – a 22% gain from 2011, and a 179% increase from 2010 when just 14% of consumers said they’d tried a new retailer. H&M is the retailer that consumers reported visiting for the first time most often, followed by Kohl’s, Macy’s, Abercrombie & Fitch and Forever 21.
The Market Force study, conducted in February, was designed to uncover consumer shopping trends and behaviors, including how they’ve shifted over the past three years.
Out of the top-ranking retailers in the study, H&M did the best job of attracting new customers for the second time in a row. The Swedish retailer received the highest ranking when the survey votes were indexed to account for number of locations per chain. Kohl’s secured the No. 2 spot, up from its sixth-place finish in Market Force’s previous retail study in late 2011, and Macy’s moved from No. 11 up to third place. Coldwater Creek and White House | Black Market both fell significantly this year from their top-five ranking in 2011. See Graph 1.
This article explains the insight of consumers purchase behaviours to brand switching, in this case the topic is on fashion retailing. Studies according to Market Force Information discovered 10 (39%) of consumers surveyed reported trying new fashion retail, this large change could be based on changing in the behaviour of their fashion. Most people, including me are afraid of change, personally I cant adapt to change I strongly rely on advice from friends and family on my decision making over changing to different brands. This can relate to IMC and all market consumers who are or have had experience with brand switching.
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