Effect of Advertisement on social media

By: Vignesh & Vishak

When brands and companies start working there is something that everyone values highly. It is called consumer behaviour. And that is the main reason why companies like Kellogs which was highly successful around the world but failed to gain ground in India initially. Consumer behaviour changes accordingly with time. As people develop the choice of consumption of goods highly depends on the standards of life they live at the time. For a company to be successful it has to understand the psychology of the consumers and tick the right boxes.

Earlier when this process took years for a company to find out their working strategy, technology these days made it easier. With all those developments becoming important the data or the information shared is the gold. That data is used by various companies in some way or other which is used to provide a personalized consumer experience. And the technologies that the companies use is what we are focusing which changed the consumer experience in a revolutionary way.

Online Shopping
A new tide of online shopping has swept away the market control towards the digital platform where buyers can purchase products with a single click on their mouse. With the dynamicity in the purchasing powers, even the producers have been readily shifting to the online portals so as to lure customers and earn revenue to the fullest. While the online forums have captured a lot of the market, yet the store-to-store shopping has not lost the essence. The primary reason for it is that the consumers have the opportunity to get their desired product trial and tested before buying it. This is the only drawback which online shopping has that is yet to be covered.

Social media Ads
It is not any news to the millennial generation of how lucrative and surplus advantage advertising on social media has. Instagram, the trendiest social media site, has provided a platform for the producers to advertise their merchandise on their profile and similarly promote it on a large scale basis simply by paying a handful of tribute to the app at par. The particular page then gets sponsored on the feed of almost every other Instagram user, thereby attracting a new consumer every minute.

Rise of Cryptos

A new era of computing technology was born in the fintech sector in 2008. Using this technology called blockchain people could make transactions in the cyber world more transparent and rightful. With the traction of digital goods like legendary arts videos memes etc that are seen as valuable and comparable to the painting s of the ancient history, the value for cryptocurrencies sky rocketed. People started to invest in it and these are in track to replace themselves as the world currency which can be used to buy online goods or virtual goods in the form of NFts. This shift is also mainly due to change in consumer behaviour towards virtual goods which were once useless but now fetch millions. This helps thousands of people earn a living as digital artist or any other related stuff.

Conclusion

Barter system in the olden times to introduction of currency in the medievial times the concepts of world trade and economics revolves around consumer beahviour. If we break it down to final piece the system revolves around human trust and consumer beahviour which fluctuates the demand and supply which makes things valuable and useless. As times changes the use of technology will interfere in this process in the vision to make things perfect and convincing. In the olden times the technology of carefully converting precious metals to valuable coins kick started this process. Now it has evolved to social media , personalized ads augmented reality machine learning and now at cryptocurrency. This process goes on forever and the technology is going to get more and more involved.