The rate of change in consumer behaviours is accelerating over time. Imagine if we brought a consumer, let’s call her Tiffany, from the year 1950 to the year 2000, she wouldn’t notice an extraordinary change. The way consumers consume media, make purchase decisions, buy goods, are mostly similar between the two times.
But imagine for a second, if we brought Tiffany from the year 2000 to the year 2019. It would blow her mind to know that she could tap her fingers on a panel of glass and get food delivered to her in under 30 minutes. It would blow her mind that she can communicate with anyone on earth instantaneously for free. It would blow her mind that she can find nearly all knowledge in human history in seconds.
It would blow her mind. And her behaviour will be in a constant state of flux.
We anticipate the rate of change will accelerate faster. Consumers went from information poor to information rich. Gone are the days of the on-the-ground salesperson acts as a trusted confidant to the consumer, the panel of glass replaced it with an army of real consumers reviews. Gone are the days where media consumption is dominated by TVs, the panel of glass replaced it with an algorithmic feed for dopamine hits.
Advertising costs are now variable rather than fixed. Dynamics of ads distribution has changed too. A good piece of content now distributes itself through the virality of consumers. Great ideas now have close to unbounded asymmetric upsides, pitfalls of ideas that alienate consumers spread fast like wildfires that you can’t extinguish.
Combine these fundamental changes with a dropping barrier of entry to start a business? You have a recipe for disruption. Large CPG companies are losing share to small brands. Dollar Shave Club built a billion-dollar brand in 5 years, without manufacturing their own products. Gillette lost 16% market share since the founding of DSC and Harry’s.
Consumers are now the de facto kingmaker.
Depending on your organisation’s culture, facts laid out above can either be exciting, or frightening. How can we defend, or better, exploit the change in consumer behaviour to win loyalty and grow market share?
You create products, marketing campaigns, and brands to win consumers’ hearts, but how often do you talk to your consumers to understand what they want?
We believe the answer is to put consumers at the heart of your decision-making process. The answer is to become a Consumer-First organisation.
Consumer-First is how we bridge the gap between what consumers want versus what organisations are creating. Consumer-First is combining empirical evidence with anecdotal experience to make rock-solid decisions. Consumer-First is a mindset shift throughout the entire organisation that needs to happen to win consumers in this cutthroat world of change.
That’s why we created Vase.ai. Vase.ai is the fastest way to know what your consumers are thinking. We answer any questions you have on your mind as fast as 2 hours by collecting answers from consumers across the nation.
We put consumers at the heart of your decision-making process. It’s like having an always-on consumer group at your fingertips, allowing you to squash assumptions timely and make decisions confidently.