Remember when the most sought-after gift had the grand technological capabilities of a banana?
We don’t really, either. It seems like even in the early stages, the presents lusted over the most were items like a Walkman or Game Boy. Technology has a captivating way of making us feel as though we constantly need the next big thing.
That truth is only becoming more evident as advancements in the consumer electronics industry continue to emerge. Consumers want to keep up with the increasing capabilities and newest models, which explains why electronics are said to be among the most wanted gifts in 2012.
Consumer electronics sales are expected to exceed a record $206 billion this year, a 5.9% jump from 2011. Nearly a third of all gift spending will go toward the industry and about 76% of gift-giving adults plan to purchase consumer electronics products this year.
As a marketer in the consumer electronics industry, it’s critical to understand the product and purchase trends. Recently, the industry has focused more on optimization and improvement of existing products, versus innovation. This is likely a result of financial times, as price will play a significant factor in purchase decisions. Smaller, sleeker, smarter versions of existing electronics are in high demand.
A recent study found that one of the best ways for consumer product retailers to influence the purchase path of social media users is through social networks. 81% of social media users report using networks to find information about products such as consumer electronics.
Social media is influential because of instantaneous connections and access to information. Most people trust “word-of-mouth” product recommendations over less personal methods such as mass advertising.
Product sharing abilities on sites like Facebook and Twitter gives gift ideas credibility and increases visibility. Although still in testing, the Facebook “Collections” feature – with a “Want” button leading to a wish list – will be extremely beneficial for those in the consumer electronics industry.
Pinterest, expected to account for 40% of all social media driven purchases this year, also presents opportunities for consumers to create entire boards in which to pin their electronic desires. The “Gift” category further allows for pricing breakdown.
Similar to the connection cultivated in social media, reviews allow users to express opinions in a slightly more constructive format. Wherever the reviews are – on a brand or retailers site – they contribute to SEO rank as well. Increasing your digital presence on search engines further reinforces your social media buzz.
Social media optimization (SMO) is greatly complemented by SEO efforts. As the holiday season descends upon us, it’s crucial that consumer electronics products are easily researched and found in order to increase traffic and sales.
Contact ZOG Digital for an SMO or SEO audit today.