On 12 March 1989, Sir Tim Berners-Lee submitted his proposal for the World Wide Web.
Sir Berners-Lee proposed a way of structuring and linking all the information (like a web) available on CERN’s computer network that made it quick and easy to access. This concept of a ‘web of information’ would ultimately become the World Wide Web.
The launch of the Mosaic browser in 1993 opened up the web to a new audience of non-academics. By 1995, the internet and the World Wide Web were established phenomena. In 1995, the Internet had less than 40 million users globally. In contrast, Facebook had 2.9billion monthly active users in January 2022.
While in its early days, the internet was structured on the basis of decentralisation (think p2p file sharing sites like Napster), these days, most use the internet for social media (Twitter, Instagram, TikTok etc), entertainment (think Netflix, Spotify) and for updates on current events, whether fake or not.
Why are we blogging about the internet today?
The internet has had an outsized impact on sales and predictability of sales since inception. While its early (negative) impact was on sales of music, books and movies, due to sites like Napster and Bittorrent, its later impact was on sales of consumer goods, both every day and luxury. This is largely due to social media.
Current events(‘news’) have always influenced our buying decisions. Prior to the advent of the internet, this was restricted to watching the news once a day or to the daily newspaper. So the influence was sporadic. These days, there are several websites (some legitimate, some not), that people can go to for their current events update. This has made the world a lot smaller and influences choices.
Influencer marketing has been around since Roman times, when gladiators endorsed products (Source: Forbes.com). According to Forbes.com, the first well known influencer collaboration was when Thomas Wedgwood made a tea set in 1760 for the wife of King George III and marketed his brand as having ‘royal approval’.
In the early 2000s, mommy bloggers were the influencers sought out by various brands to popularise and talk about their products. But the term ‘influencer marketing’ was popularised by social media.
Of all the websites and apps on the internet, social media has the biggest impact on sales. This is not just owing to the influencers on the internet and what they post, but also due to what regular people like you and me post. With content now going ‘viral’, it is viewed not by 100s of thousands of people, but a few million or billions of people.
In June 2021, Musk tweeted a heartbreak emoji and a Linkin Park referenced meme while talking about Bitcoin. The result: The price of Bitcoin dipped 3.6%.
Another, rather infamous twitter post, was by Weetabix and Heinz. The post was polarising enough that other brands, retailers and even foreign embassies got in on it. Within just a week of posting this, Weetabix sales was up by 15% in Sainsbury’s alone (Source: The Grocer)
Increased information on brands/companies
As information has become the new currency of today, any actions taken by companies are fodder for news, which eventually makes its way to social media.
With Gen Z & Millennials now forming the bulk of shoppers and given how their views on purpose have influenced how Gen X and Baby boomers think about consumption choices as well, this increased availability of information has the power to change brand preferences, based on the information on decisions taken by these companies.
Following the start of the conflict in Ukraine, when Unilever, Pepsi & Coca Cola did not initially pause Russian operations, consumer responses influences sales enough that they then decided to pause operations in the country.
How can sales people predict changes in preferences and prepare for it?
- Make it a point to stay updated on current events through legitimate sources.
- Check social media sites regularly to keep an eye on what posts are trending.
- If your view or preference has been impacted by a particular event, news or a social media post, you can be sure that there are several more whose preference has changed as well.
- Join different social groups and ensure you regularly talk to people across different generations. Each generation reacts differently (or does not react).
People have always been influenced by the opinions of others. This has been so since times immemorial. Technology has magnified this and will continue to do so as people search for human connection on the internet instead of ‘in real life’.