Brands must communicate in very local and precise terms, targeting specific consumers based on their circumstances and what is most relevant to them. That means truly understanding the situation on the ground, country by country, state by state, postcode by postcode.
For some businesses, such as banks, restaurants, or retailers, it may even mean tailoring communications store by store.
The EY Future Consumer Index, which has conducted five waves of research with 14,500 individuals in 20 countries since the start of the pandemic, has identified five different cohorts of consumers:
1. HEALTH FIRST (25%): Protecting their health and that of their family, choosing products they trust to be safe and minimising risks in the way that they shop.
2. PLANET FIRST (16%): Trying to minimise their impact on environment and buying brands that reflect their beliefs.
3. SOCIETY FIRST (15%): Working together for the greater good, buying from organisations they find to be honest and transparent.
4. EXPERIENCE FIRST (12%): Living in the moment to make the most of life, often making them open to new products, brands, and experiences.
Beyond geography, we have learned marketing messages need to be personally relevant, aligned to an individual’s situation and values, as opposed to demographics, such as age and gender. Creating a personal, human connection within any commercial message requires defining consumer segments that describe people according to multiple dimensions that influence their purchasing behaviour — from their psychographics to attitudinal characteristics.
Utilising customer segmentation and personas can bring deeper insights to media strategies and creative marketing approaches. Better still, these insights can be carried through to inform the full customer journey.
Ref: Harvard Business Review
Alan Macdonald
alan@duncrahill.com
How can Duncrahill Marketing help?
If you are looking for some guidance on segmentation we can help. Email at alan@duncrahill.com or call 0417 285 938 and we’ll organise a free 90-minute consultation with yourself and/or your staff.