Being able to influence consumer behavior is a very powerful asset one can bring to their business. But what does it mean to influence consumer behavior? Does it simply mean to get Billy to buy Snickers over Twix, or does it mean to get Billy to buy the Snickers and then encourage him to run and tell his friends how amazing his experience was? Or more importantly, how can you get him to purchase Snickers to begin with?
Unless the consumer is already a loyal customer, there must some sort of incentive to trigger him or her. These types of incentives often consist of coupons, buy one get one free sales, or some way in which the consumer is saving a nickel. But does this type of influence last?
The enormous growth of technology has allowed businesses to have access to outlets that facilitate social influence. Further, it has allowed consumers to avail themselves to be influenced, as well as influence.Social influence is dominating the marketing world because of the desire of people, alone, who want to be influenced, who want to gain knowledge and people who WANT to feel connected to brands and businesses. This is the best kind of influence: the type that is already created by the consumers themselves. The trick now is to keep them influenced, not only for an instance or two, but for as long as your company remains intact.
In order to create long last influence, you must make long last impressions. And knowing who you are up against helps you in refining the game plan.
As Jim Weldon mentioned, "Without key knowledge of who your competitors are, you are automatically reduced to "guess-marketing" If Twix is already giving away coupons, then you know you have to surpass that competitor by using a stronger tactic to influence your audience. Not only stronger, but one that can endure the rocky roads of the business world over a wide span of time.
You have to create a long lasting influence and what better time to do so than when you already have consumers availing themselves to you. The time is of the essence, and as fast as technology is moving, I wouldn't wait another minute.
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