The US tech sector is the largest in the world, accounting for 33% of the total industry and having all tech companies generating a combined total of $1.6 trillion in revenues. The average American owns more than one gadget, and households are filled with everything from kitchen appliances to personal computers, radios, and smart speakers.
Currently, there are more gadgets on the planet than people, which is an astonishing fact.
It’s apparent that tech companies don’t have a problem selling their products and services. Still, as a consumer who invests in their goods, it’s worth understanding how they appeal to your better nature. Then, you can sort out the strong purchases from the weak, and unnecessary items.
Leveraging Trust
With billions of devices on the planet, not to mention tons of digital services, it’s essential to stand out from the crowd. However, even when companies do, they have to make sure they are trustworthy and reliable. Otherwise, shoppers will get cold feet and bounce.
Review sites are the key as people trust them more than personal recommendations from their friends. A massive 84% of customers prefer review websites as they are unbiased.
No industry highlights the success of these platforms better than the digital casino sector. Generating an enormous $60 billion in the US alone, its providers rely on fair evaluations to keep new customers landing on websites and signing up to accounts.
This site showcases the effectiveness of review sites perfectly as it follows the latest compliance guidance to ensure its readers can trust in the platform.
Collecting Data
Everyone understands the importance of big data now, yet tech companies have been using it for years to their advantage. By collating things that consumers once took for granted, such as an email address or metadata, businesses can gain an insight into your shopping habits and tweak their products and services to match their base’s preferences.
Netflix is an excellent example. With over 100 million subscribers, it needs to know what to promote to individuals to get them to continue watching.
This article says that, thanks to its algorithm, it can influence 80% of the content consumed by its viewers. That means 8 out of 10 people watch TV series and movies through recommendations that are based on their habits.
Keeping It Simple
Never underestimate the power of simplicity. If you think about the biggest brands in the world, of which tech companies dominate the top five or ten, you’ll notice that their products and services are pretty basic.
Apple is notorious for ensuring its design strategy is clean and crisp, making it elegant and classy.
On the other hand, Spotify doesn’t clutter your listening experience with annoying adverts when you pay for a subscription.
These are tactics that make sure people understand exactly what they are getting when they invest in these platforms. Therefore, it’s no surprise that, as you can read here, Apple is worth $506 billion – more than the GDP of some countries – and Spotify has 124 million Premium subscribers, growing at a rate of 3 million per month.
One thing’s for sure – tech companies don’t wait for their products and services to sell themselves. If you find yourself proceeding to the checkout, it’s probably because you like the simplicity, trust, or data the businesses utilize.
