Event Presentation: Digital Times Summit – Understanding the Digital User (March 2015, Istanbul)
In March 2015, I made a presentation about “Digital User Behaviour” in Digital Times Summit 2015 as a guest speaker of Bogazici University.
What were the key take aways from my presentation?
- Although Descartes said humans are rational beings and all economic theories have been shaped based on this assumption, lots of decisions of people are based on irrational judgments.
- 42% of world population (3 billion people) have access to Internet.
- Half of the population that have access to Internet (1.5 billion people) are constantly connected which means they can connect to the internet whenever they want.
- 24/7 connectivity enabled by mobile phones. There are 5x as many cellphones in the world as there are PCs.
- Internet user penetration is lowest in South Asia (19%) and in Africa (26%).
- By 2020, 5 billion new connected users are expected to join to the game. Mobile will play a key role in providing access to these 5 billion people.
- Role of the Internet in the purchase journey is powerful. Today, more than 65% of decisions start on mobile devices but then go on to convert someplace else.
- Today, people are visiting stores less than they used to but spending more when they are there. Thanks to Internet and digital research, consumers are much better informed and know what they want to buy before they enter a store.
- Nearly half of marketers say, the most frustrating challenge is “Acting on data to improve marketing performance.”
- The winning brands of tomorrow will be those who will make sense of data and act on data insights.
- To be successful, brands need to apply 10/90 rule: If 10 dollars are invested in tools, 90 dollars should be invested in humans.
You can find the full presentation below: