How do Groundswell Technologies impact on Consumers
There are many channels for people like you and me to share information, obtain information, or exchange ideas. We share information such as shopping experience, product reviews, and restaurant reviews. We now rely less on traditional institutions (e.g. calling the company to inquire product information). As a result, we consumers gain more purchasing power from knowing more information. We call this social trend the Groundswell Technology Trend. Today, I want to give examples on two Groundswell Technology–mobile applications and persuasive videos.
Mobile Applications: Smart phones allow customers to obtain and share information at anyplace, at anytime through applications. For example, “Gas Buddy-Find Cheap Gas Prices” , an iPhone app, helps users to save money by permitting users to share where to find cheap gas. Gas Buddy classifies gas stations into different geographical areas (e.g. Richmond, Vancouver, Surrey) and by gas type (e.g Regular, midgrade, premium). You can search by city, state, or zip. It is widely popular because it actually helps people saving people without any hurdles. Customers are empowered by this kind of applications because they can now easily compare gas prices. They can choose to fill up their gas at the possible cheapest price at no searching cost.
Persuasive Videos: Consumers are also empowered by spreading influence through creating persuasive videos. Online channels such as Youtube enable consumers to cheaply create commentary videos. There are many fashion gurus who frequently post videos about product reviews and shopping hauls to share their opinion. For example, if they had a good shopping experience at Forever 21, they would create videos about their shopping experience and comment on their shopping haul. If consumers hears negative comments about certain brands or companies, these companies will be out of their consideration when they need to buy something.
Persuasive videos also give companies an opportunity to listen to their real customers. For example, if customer A has a dissatisfied shopping experience at Store ABC and shared his/her experience in Youtube channel, companies can improve on their customer service.
Alternatively, companies can create their own videos to provide information to their customers. For example, Bobbi Brown frequently updates its customers of its new products and teaches its customers how to apply these products. This way, customers can have a rough idea about Bobbi Brown’s products before checking them out at physical stores.