Digital technology & the impact on our lives off consumers and businesses around the world

Hi, I am Mike Regan from Mercatus Media Group UK. I am a freelance digital marketer.

Introduction

Today I'll be discussing how consumers use technology and its impact on their lives. The internet started as a military communication network. It was used to connect computers through Wide Area Networks so data could easily be shared. In the 1980s & was being developed into the infinite cyberspace that we know today

In December 1995 16 Million People had access to the internet today this has increased to 48 Billon and an increase of 62% of the world population. There is a growing demand for people to access the internet.

The average household now has 10.3 internet-enabled devices (Aviva 2020) this has increased from 4.1 devices ten years ago, showing that more devices are directly connected. The surge in buying smartwatches and speakers have added to this increase

January 2007 Apple had introduced the first iPhone (Business Insider 2019), this made the internet more accessible for consumers, this laid the foundation for future smartphones and changed the way we access the world's information.

How customers search for information

 This chart shows the differences in age groups and how they are research products online. The differences between Millennials and Baby Boomers show the importance of a multi-channel marketing strategy to ensure that you can succeed with your campaigns. Search Engines are one of the "go-to" places when people are searching for information online; Companies will compete and bid on AD Words to ensure that their site is as high up the search results, therefore, driving more traffic to the site. Google is the most popular search engine it can calculate a site's relevance quickly

What customers buy online

Here is a history of how consumers purchase goods online and the growth of eCommerce over the last 40 years (Selz 2020)  The chart shows that internet shopping was developed in 1979, B By 2018 $7.9 Billion of sales on the internet was recorded. Shopify estimates that 22% of all sales globally will occur online and will increase by 2% each year.

Online Video Consumption

The age difference will determine how online video is consumed (Felix Richter 2013)  When running a video-based marketing campaign, it is worth knowing your target an audience so you can reach out and get the right balance to ensure the video is getting the most views possible Video consumption online has seen a growth over the last eight years, with now 46.7% of online video consumption is viewed through a mobile device.  There has been an increase of 17.5% of global video spend in 2018 with a 1.1% increase for linear TV (Cheryl Hunter 2018)

Cloud Computing

Cloud computing has made it easier for companies to function and be more mobile so they can access the databases as efficiently as possible anywhere proving they have internet access,  Before cloud computing, a company was limited people had to work; they can people can work from home. It also enables them to communicate more accessible emails are an excellent example of how communication between employees in a business,

Artificial Intelligence

AI is defined as Intelligence that has been demonstrated by machines. The first machines were built in the mid-1950s with scientists pre-programming computers with human behaviour Today we use AI as part of our every day lives with voice recognition devices to such as Alexa based products, Smart Speakers

 eCommerce

eCommerce has essentially changed the way we shop as mobiles, tablets and Laptops have improved with technology over time so has the shopping platforms, People have moved from the high street to shopping online using the desktops and PC's to purchase goods. eCommerce is growing faster than retail 2017 10.4% of the global eCommerce sales, In 2020 this has increased to 16.1% By 2023 is estimated to increase to 22%

Social Media

Social Media was introduced in 1997 with a site called "Six Degrees In 2006, Facebook was introduced 14 years later is still one of the most essential and popular social network platforms on the internet. In 2019 the average time that people spend on social media is 144 minutes per day this is up from 142 minutes the year before (Statista 2020) Today Social Media has a significant influence on shoppers with 74% of purchasing decisions being made through these channels, Hubspot reports that 71% of Consumers are more likely to make purchases based on social media referrals#

Summary

The rise of techology over the last 25 years has been nothing short of astonishing from the Dial-up internet to superfast fibre-optic broadband. From the PCs to the flagship smartphone with more than ten times the computing power in our pockets. The impact the internet has on us has essentially changed our lives and the way we operate as humans. The fact that we are so intertwined with the internet and technology means it won't be stopping or slowing down anytime soon, driverless cars, 3D Printing, Virtual Reality will be more readily available not just with gaming platforms, but social media are developing virtual chatroom. Whereas we look back 20 years ago and see Dial-up internet and large PC's in 20-year time will be a very different picture, I feel we haven't yet scratched the surface.

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