The Age of The Consumer
Introduction
Too often, marketers make the mistake of focusing on the product rather than the consumer. They'll understand what their products do, how they work, and what they want to say about them, but they don't consider who will be reading or listening to their message. This is where developing buyer personas come in. A buyer persona is a representation of your ideal customer based on market research and real data about your existing customers. When creating your buyer persona(s), consider including customer demographics, behavior patterns, motivations, and goals. The more detailed you are, the better you'll be able to deliver content that resonates with your audience.
Demographics
Demographics are a key component of market research. Demographic data can be used to determine the age, gender, income, education level, location, and household size of consumers. This information is then compared with other characteristics such as occupation or marital status to help companies understand how different segments of the population might respond differently to various products or services.
Psychographics
Psychographics is a marketing term that refers to how consumers think and feel. It's the part of the consumer's identity that can't be easily measured, like their values, beliefs, behaviors and attitudes. Psychographic factors influence what consumers want and need—and it’s important for brands to identify these aspects of their target audience in order to better understand them.
For example: if you're targeting millennials (a specific generation born between 1980-2000), then your psychographic research may look at social media usage patterns: do they use Snapchat a lot? Are they heavy Instagram users? Do they live on Facebook? All these bits of info will help you better serve those customers by knowing how they behave when interacting with your brand online versus offline.
Behavioral Traits
What are the habits and patterns of the consumer?
The consumer is constantly in a state of change. This means that they need to be able to adapt quickly to what’s new, but also take time to understand how things work, or have worked in the past. It’s important for brands to keep up with these changes if they want their products to remain relevant and interesting.
How do they make decisions?
Consumers make decisions based on their own needs and wants, but also by comparing products against each other within certain categories (e.g., cars). This can include price comparisons as well as more qualitative factors like color or brand recognition - even though those attributes may not directly affect how well something works when you need it most! Remembering this will help guide us when we look at data later on: knowing why someone chose one product over another allows us to determine whether there was any value added by user experience design (UX/UI) practices within those categories versus others outside of them which might've been cheaper overall but less favorable than expected due its lackluster quality control measures.
Customer Segments
The concept of segmentation is simple. It involves dividing a market into distinct segments, or groups of customers who have similar needs, wants, and behaviors. Segmentation lets you find the right customers to target, which lets you give them the best experience possible—and that's what makes all the difference in the world.
Value Proposition
A value proposition is a promise that you make to your customers. It’s what makes them want to buy from you, not your competitors.
In a way, it's a promise of how much better/easier/more fun something is going to be than doing things the old way. In our case, we could say: “this software will make it easier for you to run a successful business” or even simpler: “this software will help your business grow faster!”
The most important thing about creating a value proposition for your company is that it should be believable and compelling enough so that people can clearly see how their lives will change when they start using your product or service.
Role in the Buying Process
The buyer journey is a framework that helps marketers understand the customer's journey through the sales funnel. It focuses on what motivates customers to engage in a purchase, from identifying needs and wants, to researching and evaluating different options, and finally buying.
The buyer journey starts with awareness. At this point, people know about your brand but may not realize how it could help them solve their problems or make their lives better in some way. They may have heard of you through ads or word of mouth but not fully understood what you do or why they need it.
The next step is consideration—where these people start looking into your products and services more closely because they’re interested in learning more about what you offer before they decide whether or not they want it enough to buy (or at least try). The consideration phase is also when prospects begin forming opinions based on things like price, quality of product/service promises made by sellers during previous stages such as advertising campaigns where companies told consumers why buying from them was worth paying extra $$$ over other competitors vying for same market share within same niche category; information provided online by third-party sources like blogs written by others who have used product recently which review pros/cons associated w/ using specific brand name product versus another one sold under same category umbrella term (but may actually fall under different subtypes).
Goals/Why Buy? (the why behind the purchase)
The goals and why buys are the reasons for your purchase. They’re the reason you buy something.
For example, I might be thinking about buying a new pair of running shoes. The goal is that I want to go running more often, which means that I need to have the proper footwear for it. So my goal would be “run more often” and my why buy would be “get new running shoes."
It's important to understand the consumer when creating a marketing plan.
The age of the consumer is upon us. Understanding the consumer—who they are, what they want, and why they make decisions—is key to marketing success. With this in mind, it's important to understand the consumer when creating a marketing plan.
When developing a market strategy, marketers need to consider their target audience: who will be using their product or service? What type of person are they? What do they value? How can you appeal to them?
To answer these questions, it's essential that marketers conduct market research on their target audience. Market research helps marketers learn about consumers' needs and behaviors so that they can create products and services that address those needs more effectively than those available from competitors.
Conclusion
Here’s the bottom line: If you truly want to understand your target consumers and develop better marketing plans, you need to stop thinking about them as an “audience” or a “market segment.” Instead, think about them as the people they are in their everyday lives—as customers.