Tuesday, April 10, 2012
WHEN it comes to today’s consumer, a hard sell approach won’t cut it, an economics professor said in a forum held recently in Cebu.
Jay Bernardo, a professor at the University of Asia and the Pacific (UA&P), said studies have proven that consumers trust their peers more than marketers.
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With this in mind, he said businesses will have no recourse but to engage with their consumers on social media.
“There is no excuse. Consumers are either in Facebook or Twitter. You will have to learn it because you will catch your customers better in social networks,” he said.
He added that entrepreneurs can sell their products better if they know their consumers well and know how to catch their attention.
He told those present that 40 percent of those who use Facebook are looking at photos. With this knowledge, he said an entrepreneur can be sure that he needs to use pictures to connect with the market.
“They don’t like advertising. They like pictures,” Bernardo said. He added that businesses like real estate should know how to use social media to get users to interact creatively and talk about their product, rather than just try to sell it.
“People hate a hard sell. But they will believe their friends and their family. Your type of selling should be experiential and engaging.”
He said getting the consumer involved in the product is a great way to get their attention.
After social media, Bernardo said entrepreneurs should anticipate the next big thing--mobile.
“You should anticipate what you can do with it as early as now,” he said.
He explained that the new consumer is increasingly digital and media-rich. They want instant access and are constantly connected. They are also natural navigators, learning things on their own but have an attention span of at most 15 minutes.
The challenge for entrepreneurs, he said, is to be able to deliver and satisfy such a consumer.
Technology, he said, is the answer for entrepreneurs who need to engage the modern consumer. Without the quickness of technology, Bernardo believes businesses face a greater risk of closing shop.
“The person who will replace you is a person with better technology.”
Rather than find out what a business can do with certain types of technology, Bernardo suggested that an entrepreneur find out what technology can do for his business.
Published in the Sun.Star Cebu newspaper on April 10, 2012.
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